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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
stars
2,538 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

SS

Jun 1, 2020

Though being a student in technical field, i was easy for me to become familiar with the subject, as all basics were point to point explained. Larry sir was amazing xD. "I have got the pen"

RS

Aug 23, 2017

Excellent course and very well explained every basic economic concept with real examples.Thanks a lot Professor for allowing me to audit this course, wishing you a great success ahead!!

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451 - 475 of 595 Reviews for Firm Level Economics: Consumer and Producer Behavior

By kyle s

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Jan 5, 2021

Awesome

By Jithin K M R

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Nov 29, 2020

awesome

By Sona R V

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Aug 10, 2020

Is good

By Nitika K

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Jul 23, 2020

Amazing

By NKETIAH E

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Feb 26, 2019

awesome

By Mohd F I

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Jun 10, 2025

Great.

By Do T T N

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Jun 26, 2023

bổ ích

By Visi S

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Dec 21, 2020

Great!

By Aiswarya d S

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Sep 9, 2020

Thanks

By VINOTH.K

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Aug 30, 2020

good ,

By Chris M

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Oct 31, 2017

Badass

By Vikrant T

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Dec 16, 2025

Great

By TANUJA H

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Dec 7, 2023

great

By Marco M

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Jul 16, 2022

great

By MUTHAIAGARI S G 2

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Mar 6, 2021

Super

By Anh N T

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Dec 12, 2020

Great

By Đông N V

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Sep 20, 2020

Great

By Rithika I

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Jul 11, 2019

Great

By Imran Y

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Feb 23, 2017

great

By Abid F F

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Mar 21, 2026

good

By Sachin S

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Nov 11, 2025

Good

By Srikanth N

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Sep 4, 2025

good

By SHREYA R

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Sep 23, 2024

nice

By ANURADHA S R

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Sep 9, 2024

Good

By Soham A 0

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Sep 12, 2023

GOOD