The Power of Markets II: Market Structure and Firm Behavior

University of Rochester

Об этом курсе

In order to maximize profits, firms must ensure that any given output level is produced at least cost and then select the price-output combination that results in total revenue exceeding total cost by the greatest amount possible. With this in mind, this second module of the Power of Markets course addresses how firms can most effectively convert inputs into final output and then covers determining the best price-output combination for a firm and how this varies depending on whether the firm is operating in a perfectly competitive or imperfectly competitive market setting.

Только онлайн-курсы

Начните сейчас и учитесь по собственному графику.

Approx. 6 hours to complete

Предполагаемая нагрузка: 3-5 hours/week

English

Субтитры: English

Только онлайн-курсы

Начните сейчас и учитесь по собственному графику.

Approx. 6 hours to complete

Предполагаемая нагрузка: 3-5 hours/week

English

Субтитры: English

Syllabus - What you will learn from this course

1

Section

2 hours to complete

Week 5 - Production

The Production Process: How Firms Convert Inputs into Final Outputs....

8 videos (Total 57 min), 1 quiz

8 videos

Production in the Short Run7m

Total, Average, and Marginal Product Curves 7m

The Law of Diminishing Marginal Returns 4m

Production in the Long Run 5m

Trading Off Inputs in Production 5m

Returns to Scale 7m

Short-run Cost of Production7m

The Relationship Between Cost Curves 11m

1 practice exercises

Week 5 Quiz40m

2

Section

2 hours to complete

Week 6 - Cost Minimization

How Firms Minimize the Cost of Producing Output....

9 videos (Total 87 min), 1 quiz

9 videos

Marginal-Average Cost Relationships10m

The Golden Rule of Cost Minimization 11m

Applying the Golden Rule of Cost Minimization14m

Long Run Cost Curves13m

The Importance of Cost Curves to Market Structure and Efforts to Abate Pollution 8m

Perfect Competition: Key Assumptions6m

Short-run Profit Maximization 4m

The Competitive Firm’s Short-Run Supply Curve and the Shutdown Condition 12m

Output Response to Input Price Changes5m

1 practice exercises

Week 6 Quiz40m

3

Section

2 hours to complete

Week 7 - Profit Maximization in Perfectly Competitive Markets

How Firms Maximize Profits in Perfectly Competitive Markets....

10 videos (Total 92 min), 1 quiz

10 videos

Short-run Competitive Equilibrium6m

Long-run Competitive Equilibrium 10m

The Long-run Industry Supply Curve 12m

Key Points About the Long-run Industry Supply Curve 9m

Producer Surplus 3m

Competition Maximizes Total Surplus 9m

Who Bears the Burden of Excise Taxes?14m

The Deadweight Loss of Excise Taxes 5m

City Taxicab Markets 7m

The Net Gains From Trade 11m

1 practice exercises

Week 7 Quiz40m

4

Section

2 hours to complete

Week 8 - Monopoly Power: Its Sources and How to Use It

The Sources and Uses of Monopoly Power....

10 videos (Total 95 min), 1 quiz

10 videos

Monopoly: An Introduction6m

Monopoly and Profit Maximization 5m

Monopoly Price and Its Relationship to Elasticity of Demand 8m

Further Implications of Monopoly Analysis 11m

The Measurement and Sources of Monopoly Power 5m

The Sources of Monopoly Power 11m

The Efficiency Effects of Monopoly8m

Public Policy Toward Monopoly 11m

Price Discrimination 12m

Three Necessary Conditions for Price Discrimination 12m

1 practice exercises

Week 8 Quiz40m

Instructor

Mark Zupan

Professor of Economics and Public Policy

About University of Rochester

The University of Rochester is one of the nation's leading private universities. Located in Rochester, N.Y., the University provides exceptional opportunities for interdisciplinary study and close collaboration with faculty through its unique cluster-based curriculum. Its College, School of Arts and Sciences, and Hajim School of Engineering and Applied Sciences are complemented by its Eastman School of Music, Simon School of Business, Warner School of Education, Laboratory for Laser Energetics, School of Medicine and Dentistry, School of Nursing, Eastman Institute for Oral Health, and the Memorial Art Gallery....

Frequently Asked Questions

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The Power of Markets II: Market Structure and Firm Behavior