Microeconomics: Competition in the Marketplace

Name: Microeconomics: Competition in the Marketplace
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Learn about marketplace competition, externalities and monopolies by completing this free microeconomics course.

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Learning Outcomes

In this free course, you will learn how to:

Define private, external, social costs and Pigouvian taxes
Discuss externalities, both costs and benefits
Explain social surplus, fixed costs, variable costs, marginal costs, zero costs and sunk costs
Compare increasing, decreasing and constant cost industries
Discuss when it is best to enter or exit an industry
Explain the properties of the invisible hand of the market
Discuss creative destruction
Define the elimination principle
Discuss how monopolies create markups

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