微观经济学原理15章.ppt

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1、MonopolyChapter15Copyright©2001byHarcourt,Inc.Allrightsreserved.  Requestsforpermissiontomakecopiesofanypartoftheworkshouldbemailedto:PermissionsDepartment,HarcourtCollegePublishers,6277SeaHarborDrive,Orlando,Florida32887-6777.MonopolyWhileacompetitivefirmisapricetaker,amonop

2、olyfirmisapricemaker.MonopolyAfirmisconsideredamonopolyif...itisthesolesellerofitsproduct.itsproductdoesnothaveclosesubstitutes.WhyMonopoliesAriseThefundamentalcauseofmonopolyisbarrierstoentry.WhyMonopoliesAriseBarrierstoentryhavethreesources:Ownershipofakeyresource.Thegovernment

3、givesasinglefirmtheexclusiverighttoproducesomegood.Costsofproductionmakeasingleproducermoreefficientthanalargenumberofproducers.MonopolyResourcesAlthoughexclusiveownershipofakeyresourceisapotentialsourceofmonopoly,inpracticemonopoliesrarelyariseforthisreason.Government-CreatedMon

4、opoliesGovernmentsmayrestrictentrybygivingasinglefirmtheexclusiverighttosellaparticulargoodincertainmarkets.Government-CreatedMonopoliesPatentandcopyrightlawsaretwoimportantexamplesofhowgovernmentcreatesamonopolytoservethepublicinterest.NaturalMonopoliesAnindustryisanaturalmonopo

5、lywhenasinglefirmcansupplyagoodorservicetoanentiremarketatasmallercostthancouldtwoormorefirms.NaturalMonopoliesAnaturalmonopolyariseswhenthereareeconomiesofscaleovertherelevantrangeofoutput.EconomiesofScaleasaCauseofMonopoly...AveragetotalcostQuantityofOutputCost0MonopolyversusCo

6、mpetitionMonopolyIsthesoleproducerHasadownward-slopingdemandcurveIsapricemakerReducespricetoincreasesalesCompetitionversusMonopolyCompetitiveFirmIsoneofmanyproducersHasahorizontaldemandcurveIsapricetakerSellsasmuchoraslittleatsamepriceQuantityofOutputDemand(a)ACompetitiveFirm’sDe

7、mandCurve(b)AMonopolist’sDemandCurve0Price0QuantityofOutputPriceDemandDemandCurvesforCompetitiveandMonopolyFirms...AMonopoly’sRevenueTotalRevenuePxQ=TRAverageRevenueTR/Q=AR=PMarginalRevenueDTR/DQ=MRAMonopoly’sTotal,Average,andMarginalRevenueQuantity(Q)Price(P)TotalRevenue(TR=PxQ)

8、AverageRevenue(AR=TR/Q)MarginalRevenue(M