微观经济学原理14章.ppt

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1、FirmsinCompetitiveMarketsChapter14Copyright©2001byHarcourt,Inc.Allrightsreserved.  Requestsforpermissiontomakecopiesofanypartoftheworkshouldbemailedto:PermissionsDepartment,HarcourtCollegePublishers,6277SeaHarborDrive,Orlando,Florida32887-6777.TheMeaningofCompetitionA

2、perfectlycompetitivemarkethasthefollowingcharacteristics:Therearemanybuyersandsellersinthemarket.Thegoodsofferedbythevarioussellersarelargelythesame.Firmscanfreelyenterorexitthemarket.TheMeaningofCompetitionAsaresultofitscharacteristics,theperfectlycompetitivemarkethasthe

3、followingoutcomes:Theactionsofanysinglebuyerorsellerinthemarkethaveanegligibleimpactonthemarketprice.Eachbuyerandsellertakesthemarketpriceasgiven.TheMeaningofCompetitionBuyersandsellersincompetitivemarketsaresaidtobepricetakers.Buyersandsellersmustacceptthepricedetermined

4、bythemarket.RevenueofaCompetitiveFirmTotalrevenueforafirmisthesellingpricetimesthequantitysold.TR=(PXQ)RevenueofaCompetitiveFirmTotalrevenueisproportionaltotheamountofoutput.RevenueofaCompetitiveFirmAveragerevenuetellsushowmuchrevenueafirmreceivesforthetypicalunitsold.Rev

5、enueofaCompetitiveFirmInperfectcompetition,averagerevenueequalsthepriceofthegood.RevenueofaCompetitiveFirmMarginalrevenueisthechangeintotalrevenuefromanadditionalunitsold.MR=TR/QRevenueofaCompetitiveFirmForcompetitivefirms,marginalrevenueequalsthepriceofthegood.Total,Av

6、erage,andMarginalRevenueforaCompetitiveFirmProfitMaximizationfortheCompetitiveFirmThegoalofacompetitivefirmistomaximizeprofit.Thismeansthatthefirmwillwanttoproducethequantitythatmaximizesthedifferencebetweentotalrevenueandtotalcost.ProfitMaximization:ANumericalExampleP=A

7、R=MRP=MR1MCProfitMaximizationfortheCompetitiveFirm...Quantity0CostsandRevenueATCAVCQMAXThefirmmaximizesprofitbyproducingthequantityatwhichmarginalcostequalsmarginalrevenue.MC1Q1MC2Q2Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.ProfitMaximizationfortheComp

8、etitiveFirmProfitmaximizationoccursatthequantitywheremarginalrevenueequalsmarginalcost.ProfitMax