平狄克微观经济学课件（英文）.ppt

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1、CHAPTER14OUTLINE14.1CompetitiveFactorMarkets14.2EquilibriuminaCompetitiveFactorMarket14.3FactorMarketswithMonopsonyPower14.4FactorMarketswithMonopolyPowerMARKETSFORFACTORINPUTS14Wewillexaminethreedifferentfactormarketstructures:1.Perfectlycompetitivefactormarkets;2.M

2、arketsinwhichbuyersoffactorshavemonopsonypower;3.Marketsinwhichsellersoffactorshavemonopolypower.COMPETITIVEFACTORMARKETS14.1DemandforaFactorInputWhenOnlyOneInputIsVariable●marginalrevenueproductAdditionalrevenueresultingfromthesaleofoutputcreatedbytheuseofoneadditi

3、onalunitofaninput.HowdowemeasuretheMRPL?It’stheadditionaloutputobtainedfromtheadditionalunitofthislabor,multipliedbytheadditionalrevenuefromanextraunitofoutput.●deriveddemandDemandforaninputthatdependson,andisderivedfrom,boththefirm’slevelofoutputandthecostofinputs.(

4、14.1)Thisimportantresultholdsforanycompetitivefactormarket,whetherornottheoutputmarketiscompetitive.COMPETITIVEFACTORMARKETS14.1DemandforaFactorInputWhenOnlyOneInputIsVariableInacompetitiveoutputmarket,afirmwillsellallitsoutputatthemarketpriceP.Inthiscase,themarginal

5、revenueproductoflaborisequaltothemarginalproductoflabortimesthepriceoftheproduct:MarginalRevenueProductFigure14.1Inacompetitivefactormarketinwhichtheproducerisapricetaker,thebuyer’sdemandforaninputisgivenbythemarginalrevenueproductcurve.TheMRPcurvefallsbecausethemarg

6、inalproductoflaborfallsashoursofworkincrease.Whentheproduceroftheproducthasmonopolypower,thedemandfortheinputisalsogivenbytheMRPcurve.Inthiscase,however,theMRPcurvefallsbecauseboththemarginalproductoflaborandmarginalrevenuefall.(14.2)COMPETITIVEFACTORMARKETS14.1Deman

7、dforaFactorInputWhenOnlyOneInputIsVariableHiringbyaFirmintheLaborMarket(withFixedCapital)Figure14.2Inacompetitivelabormarket,afirmfacesaperfectlyelasticsupplyoflaborSLandcanhireasmanyworkersasitwantsatawageratew*.Thefirm’sdemandforlaborDLisgivenbyitsmarginalrevenuepr

8、oductoflaborMRPL.Theprofit-maximizingfirmwillhireL*unitsoflaboratthepointwherethemarginalrevenueproductoflaborisequaltothewagerate.