Chevron Left
Back to Firm Level Economics: Consumer and Producer Behavior

Learner Reviews & Feedback for Firm Level Economics: Consumer and Producer Behavior by University of Illinois Urbana-Champaign

4.8
stars
2,534 ratings

About the Course

All goods and services are subject to scarcity at some level, which requires that society develop some allocation mechanism to determine who gets what. Over recorded history, these allocation rules were usually command based, meaning that the king or the emperor would decide. In contemporary times, most countries have turned to market-based allocation systems. In markets, prices act as rationing devices, encouraging or discouraging production and encouraging or discouraging consumption to find an equilibrium allocation of resources. To understand this process, businesses construct demand curves to capture consumer behavior and consider supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity. You will be able to: • Describe consumer behavior as captured by the demand curve and producer behavior as captured by the supply curve • Define equilibrium and explain the impact of taxes and price controls on market equilibrium • Explain elasticity of demand • Describe cost theory and how firms optimize given the constraints of their own costs and an exogenously given price This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/....

Top reviews

R

Oct 3, 2022

T​his is a very powrefull course about Economics, Consumer and Producer. Everyone must go through this course and its not that much easy as much people may guess about this.T​hanks

KS

Jul 27, 2020

Great course that gives you a deep understanding on how the different cost and revenue curves behave. i would especially like to thank the instructor for teaching us. Thank you.

Filter by:

476 - 500 of 593 Reviews for Firm Level Economics: Consumer and Producer Behavior

By rahmat s

•

Dec 26, 2022

Good

By Keella A 2

•

Dec 11, 2022

good

By Miheer K 2

•

Nov 21, 2022

good

By KAWADI M R H

•

Jan 15, 2022

nice

By Yifei L

•

Aug 17, 2021

good

By Upasana p I B

•

Jun 18, 2021

Good

By Trịnh T P

•

Mar 26, 2021

good

By Tran B T

•

Mar 23, 2021

good

By THAKKAR N A

•

Mar 17, 2021

Nice

By PUTAKA R K

•

Mar 17, 2021

nice

By Bui N L

•

Mar 15, 2021

Good

By KESHETTY S 2

•

Mar 14, 2021

Good

By SHANMUKHI G 1

•

Mar 10, 2021

good

By Mạnh H N

•

Mar 3, 2021

Good

By Aniket R

•

Jan 18, 2021

Good

By Ruhim R

•

Dec 19, 2020

good

By Quang T V

•

Dec 14, 2020

good

By Selman S

•

Dec 2, 2020

good

By Nguyen H M S

•

Oct 28, 2020

Good

By KISLEW A Y H

•

Oct 24, 2020

nice

By SARANYA M

•

Oct 1, 2020

Good

By Tuyên L T L

•

Sep 19, 2020

Good

By Ananthasagaram S

•

Jul 29, 2020

good

By SIDDIQA R

•

Jul 28, 2020

Good

By Maheshwari

•

May 25, 2020

Good