ECNC 205 – Fundamentals of Microeconomics, Level B (1.5)
The fundamentals of microeconomics helps firms use production functions and calculations to determine the optimal level of production, costs, and profit. It also provides a deeper understanding of how firms interact in varying markets (competitive, monopolistic, and oligopolistic).
Upon successful mastery of this competency, you will be able to:
- Demonstrate an understanding of how firms use production functions and calculate their optimal level of production, costs, and profits.
- Understand how firms interact in competitive, monopolistic, and oligopolistic markets.