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.
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This course is indeed a helpful one and has helped me to understand the Market Structure in a very eminent way.
The best courses in Coursera, i greatly appreciate the hard work by Professor Zupan, a happy man from China.
This course was great. I strongly recommend buying the recommended book, as it will help a lot.
Excellent course. Well worth the effort Looking forward to Part III.
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