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Course Description

Imagine that a firm is the sole producer in a market, i.e., a monopolist. How does the monopolist behave? How does that behavior differ from the case of a firm in perfect competition? In this course, you will examine how the monopolist behaves. You will examine the cost structure that results in a natural monopoly and the choices that firms put into making pricing decisions in these contexts. Finally, you will analyze a model of monopolistic competition between firms and consider how they fight to reduce new firms from entering their industry. Throughout exploring these new definitions and models, you will work on a course project that will help contextualize these concepts into your life and work.

These courses are required to be completed prior to starting this course:

  • Examining Scarcity and Opportunity Cost
  • Analyzing Price and Equilibrium
  • Conducting Market Analysis and Predicting Price
  • Modeling Perfect Competition

Faculty Author

Thomas Evans

Benefits to the Learner

  • Examine how the monopolist behaves and how that behavior differs from the case of perfect competition
  • Explore the phenomenon of returns to scale
  • Leverage five types of non-linear pricing to learn the ways firms make decisions about pricing to maximize their profits
  • Identify why the most serious threat to long run profits are new entrants into an industry

Target Audience

  • New, emerging, and experienced leaders
  • Individuals seeking to expand their business management skills
  • Consultants
  • Analysts and researchers
  • Entrepreneurs

Accrediting Associations

Applies Towards the Following Certificates

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Type
2 week
Dates
Oct 30, 2024 to Nov 12, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Type
2 week
Dates
Jan 22, 2025 to Feb 04, 2025
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Type
2 week
Dates
Apr 16, 2025 to Apr 29, 2025
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Type
2 week
Dates
Jul 09, 2025 to Jul 22, 2025
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Type
2 week
Dates
Oct 01, 2025 to Oct 14, 2025
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Type
2 week
Dates
Dec 24, 2025 to Jan 06, 2026
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
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