Market rivalry effects economic decisions, equilibrium prices and measuring productivity inputs in production process.

Describe how goals, constraints, incentives, and market rivalry affect economic decisions.
Analyze demand, supply, equilibrium prices, and price elasticities as a quantitative tool to forecast changes in revenues.
Evaluate alternative ways of measuring the productivity of inputs and the role of the manager in the production process.
Assess the economic trade-offs associated with obtaining inputs through spot exchange, contract, or vertical integration.
CLInvestigate the conditions under which a firm operates as perfectly competitive, monopolistically competitive, or a monopoly.
Explain how beliefs and strategic interaction shape optimal decisions in oligopoly environments.
Identify examples of networks and network externalities, and determine the number of connections possible in a star network with n users.