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/.