曼昆微观经济学英文版15monopoly.ppt

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1、15MonopolyWhileacompetitivefirmisapricetaker,amonopolyfirmisapricemaker.Afirmisconsideredamonopolyif...itisthesolesellerofitsproduct.itsproductdoesnothaveclosesubstitutes.WHYMONOPOLIESARISEThefundamentalcauseofmonopolyisbarrierstoentry.WHYMONOPOLIESARISEBarrie

2、rstoentryhavethreesources:Ownershipofakeyresource.Thegovernmentgivesasinglefirmtheexclusiverighttoproducesomegood.Costsofproductionmakeasingleproducermoreefficientthanalargenumberofproducers.MonopolyResourcesAlthoughexclusiveownershipofakeyresourceisapotential

3、sourceofmonopoly,inpracticemonopoliesrarelyariseforthisreason.Government-CreatedMonopoliesGovernmentsmayrestrictentrybygivingasinglefirmtheexclusiverighttosellaparticulargoodincertainmarkets.Government-CreatedMonopoliesPatentandcopyrightlawsaretwoimportantexam

4、plesofhowgovernmentcreatesamonopolytoservethepublicinterest.NaturalMonopoliesAnindustryisanaturalmonopolywhenasinglefirmcansupplyagoodorservicetoanentiremarketatasmallercostthancouldtwoormorefirms.NaturalMonopoliesAnaturalmonopolyariseswhenthereareeconomiesofs

5、caleovertherelevantrangeofoutput.Figure1EconomiesofScaleasaCauseofMonopolyCopyright©2004South-WesternQuantityofOutputAveragetotalcost0CostHOWMONOPOLIESMAKEPRODUCTIONANDPRICINGDECISIONSMonopolyversusCompetitionMonopolyIsthesoleproducerFacesadownward-slopingdema

6、ndcurveIsapricemakerReducespricetoincreasesalesCompetitiveFirmIsoneofmanyproducersFacesahorizontaldemandcurveIsapricetakerSellsasmuchoraslittleatsamepriceFigure2DemandCurvesforCompetitiveandMonopolyFirmsCopyright©2004South-WesternQuantityofOutputDemand(a)AComp

7、etitiveFirm’sDemandCurve(b)AMonopolist’sDemandCurve0PriceQuantityofOutput0PriceDemandAMonopoly’sRevenueTotalRevenuePQ=TRAverageRevenueTR/Q=AR=PMarginalRevenueDTR/DQ=MRTable1AMonopoly’sTotal,Average,andMarginalRevenueCopyright©2004South-WesternAMonopoly’sReve

8、nueAMonopoly’sMarginalRevenueAmonopolist’smarginalrevenueisalwayslessthanthepriceofitsgood.Thedemandcurveisdownwardsloping.Whenamonopolydropsthepricetosellonemoreunit,therevenuerec