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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
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2,463 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 鈥渞ations鈥� the scarce commodity. You will be able to: 鈥� Describe consumer behavior as captured by the demand curve and producer behavior as captured by the supply curve 鈥� Define equilibrium and explain the impact of taxes and price controls on market equilibrium 鈥� Explain elasticity of demand 鈥� 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鈥� suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your 糖心vlog官网观看 work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/....

Top reviews

S

Feb 17, 2020

Larry is one of my all time favorite professors. No one teaches price theory like him. He makes the material entertaining and creates an enjoyable learning experience. I wish he taught more courses.

KS

Sep 12, 2019

This was awesome. I did not know Firm Level Economics when I joined this course. The explanations were simple and Prof DeBrock explained really difficult concepts in a very easy to understand manner.

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401 - 425 of 574 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Aditya K

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Apr 22, 2025

Great Course

By Aakriti.

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Aug 23, 2022

GOOD COURSE.

By Khoder K T

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Jan 17, 2021

thanks a lot

By R. R K

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Dec 10, 2020

it was great

By Malika P P

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Oct 12, 2020

Great course

By Mancha J S

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Jul 26, 2020

Great course

By Vidushi G

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Jun 23, 2020

Great Course

By Gerardo A J

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Feb 7, 2019

Great course

By Hamada S

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Jan 29, 2019

Great Course

By Nikolaos P

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Mar 5, 2018

Great Course

By Oryngali T

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Apr 14, 2025

good course

By Obaidullah Z

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May 21, 2024

it was good

By Haygen S

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Dec 2, 2022

nice.......

By Keerthana

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Feb 3, 2021

Really good

By Nguy峄卬 T H H

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Dec 8, 2020

many thanks

By Renju P

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Nov 24, 2020

nice course

By Ishara S S

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Oct 30, 2020

Good course

By OLALEKAN O R

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Aug 23, 2020

Nice course

By Dr T K K

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Aug 20, 2020

Very useful

By Henry N

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Jul 31, 2020

nice course

By S S S V

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Jul 28, 2020

Good course

By Dang P L K

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Mar 19, 2021

very good.

By Deleted A

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Dec 21, 2020

Excellent!

By Tong V C

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Dec 19, 2020

Good level

By V农 T H D

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Aug 22, 2020

it's great