Intermediate Microeconomics: Competition

Overview/Description
To explain how firms maximize profits and the impact this has on consumer and producer welfare, and to investigate the impact of government policies on profit maximization and welfare

Target Audience
Managers and prospective managers seeking to understand the theories and practice of consumer behavior and demand, and of production, cost, and supply

Prerequisites
A familiarity with basic economics

Expected Duration
5:00 Hours

Objectives:

Intermediate Microeconomics: Competition

  • To explain profit maximization in a competitive market
  • To explain profit maximization, shutdown decisions, firm supply curves, and market supply curves of competitive firms in the short run
  • To explain how competitive firms maximize profit in the long run
  • To explain how to measure consumer and producer welfare
  • To describe the impact of government policies on profit maximization


    • Course Number: KME24SE