帕金经济学第9版课件Ch12-9e-lecture.ppt

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1、CHAPTER1Airlinesandautomobileproducersarefacingtoughtimes:Pricesarebeingslashedtodrivesalesandprofitsareturningintolosses.Workershavebeenlaidofftemporarilyorletgopermanently.Whatdeterminesthefirm’spriceandprofit?Whydofirmssometimesstopproducingandtemporarilylayofftheirworkers?Tostudycompet

2、itivemarkets,wearegoingtobuildamodelofamarketinwhichcompetitionisasfierceandextremeas.Wecallthissituation“perfectcompetition.”WhatIsPerfectCompetition?PerfectcompetitionisanindustryinwhichManyfirmssellidenticalproductstomanybuyers.Therearenorestrictionstoentryintotheindustry.Establishedfir

3、mshavenoadvantagesovernewones.Sellersandbuyersarewellinformedaboutprices.HowPerfectCompetitionArisesPerfectcompetitionarises:Whenfirm’sminimumefficientscaleissmallrelativetomarketdemandsothereisroomformanyfirmsintheindustry.Andwheneachfirmisperceivedtoproduceagoodorservicethathasnouniquech

4、aracteristics,soconsumersdon’tcarewhichfirmtheybuyfrom.WhatIsPerfectCompetition?PriceTakersInperfectcompetition,eachfirmisapricetaker.Apricetakerisafirmthatcannotinfluencethepriceofagoodorservice.Nosinglefirmcaninfluencetheprice—itmust“take”theequilibriummarketprice.Eachfirm’soutputisaperf

5、ectsubstitutefortheoutputoftheotherfirms,sothedemandforeachfirm’soutputisperfectlyelastic.WhatIsPerfectCompetition?EconomicProfitandRevenueThegoalofeachfirmistomaximizeeconomicprofit,whichequalstotalrevenueminustotalcost.Totalcostistheopportunitycostofproduction,whichincludesnormalprofit.A

6、firm’stotalrevenueequalsprice,P,multipliedbyquantitysold,Q,orP×Q.Afirm’smarginalrevenueisthechangeintotalrevenuethatresultsfromaone-unitincreaseinthequantitysold.WhatIsPerfectCompetition?Figure12.1illustratesafirm’srevenueconcepts.Part(a)showsthatmarketdemandandmarketsupplydeterminethemark

7、etpricethatthefirmmusttake.WhatIsPerfectCompetition?Figure12.1(b)showsthefirm’stotalrevenuecurve(TR)—therelationshipbetweentotalrevenueandquantitysold.WhatIsPerfectCompetition?Figure12.1(c)showsthemarginalrevenuecurve(MR).Thefirmcansellanyquantityitchoosesatth