Ch16Equilibrium-v.ppt
《Ch16Equilibrium-v.ppt》由会员分享,可在线阅读,更多相关《Ch16Equilibrium-v.ppt(96页珍藏版)》请在冰豆网上搜索。
ChapterSixteenEquilibriumMarketEquilibriumuAmarketisinequilibriumwhentotalquantitydemandedbybuyersequalstotalquantitysuppliedbysellers.MarketEquilibriumpD(p)q=D(p)MarketdemandMarketEquilibriumpS(p)Marketsupplyq=S(p)MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)p*q*MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)p*q*D(p*)=S(p*);themarketisinequilibrium.MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)p*S(p)D(p)S(p);anexcessofquantitysuppliedoverquantitydemanded.pD(p)MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)p*S(p)D(p)S(p”);anexcessofquantitydemandedoverquantitysupplied.p”S(p”)MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)p*D(p”)D(p”)S(p”);anexcessofquantitydemandedoverquantitysupplied.p”S(p”)Marketpricemustrisetowardsp*.MarketEquilibriumuCanwecalculatethemarketequilibriumusingtheinversemarketdemandandsupplycurves?
MarketEquilibriumuCanwecalculatethemarketequilibriumusingtheinversemarketdemandandsupplycurves?
uYes,itisthesamecalculation.MarketEquilibriumuTwospecialcases:
lquantitysuppliedisfixed,independentofthemarketprice,andlquantitysuppliedisextremelysensitivetothemarketprice.MarketEquilibriumMarketquantitysuppliedisfixed,independentofprice.pqq*MarketEquilibriumS(p)=c+dp,sod=0andS(p)c.pqq*=cMarketquantitysuppliedisfixed,independentofprice.MarketEquilibriumS(p)=c+dp,sod=0andS(p)c.pqq*=cD-1(q)=(a-q)/bMarketdemandMarketquantitysuppliedisfixed,independentofprice.MarketEquilibriumS(p)=c+dp,sod=0andS(p)c.pqp*D-1(q)=(a-q)/bMarketdemandq*=cMarketquantitysuppliedisfixed,independentofprice.MarketEquilibriumS(p)=c+dp,sod=0andS(p)c.pqp*=(a-c)/bD-1(q)=(a-q)/bMarketdemandq*=cp*=D-1(q*);thatis,p*=(a-c)/b.Marketquantitysuppliedisfixed,independentofprice.MarketEquilibriumS(p)=c+dp,sod=0andS(p)c.pqD-1(q)=(a-q)/bMarketdemandq*=cp*=D-1(q*);thatis,p*=(a-c)/b.p*=(a-c)/bMarketquantitysuppliedisfixed,independentofprice.MarketEquilibriumS(p)=c+dp,sod=0andS(p)c.pqD-1(q)=(a-q)/bMarketdemandq*=cp*=D-1(q*);thatis,p*=(a-c)/b.withd=0givep*=(a-c)/bMarketquantitysuppliedisfixed,independentofprice.MarketEquilibriumuTwospecialcasesarelwhenquantitysuppliedisfixed,independentofthemarketprice,andlwhenquantitysuppliedisextremelysensitivetothemarketprice.MarketEquilibriumMarketquantitysuppliedisextremelysensitivetoprice.pqMarketEquilibriumMarketquantitysuppliedisextremelysensitivetoprice.S-1(q)=p*.pqp*MarketEquilibriumMarketquantitysuppliedisextremelysensitivetoprice.S-1(q)=p*.pqp*D-1(q)=(a-q)/bMarketdemandMarketEquilibriumMarketquantitysuppliedisextremelysensitivetoprice.S-1(q)=p*.pqp*D-1(q)=(a-q)/bMarketdemandq*MarketEquilibriumMarketquantitysuppliedisextremelysensitivetoprice.S-1(q)=p*.pqp*D-1(q)=(a-q)/bMarketdemandq*=a-bp*p*=D-1(q*)=(a-q*)/bsoq*=a-bp*QuantityTaxesuAquantitytaxleviedatarateof$tisataxof$tpaidoneachunittraded.uIfthetaxisleviedonsellersthenitisanexcisetax.(消费税,货物税,执照(消费税,货物税,执照税)税)uIfthetaxisleviedonbuyersthenitisasalestax.(营业税营业税)QuantityTaxesuWhatistheeffectofaquantitytaxonamarketsequilibrium?
uHowarepricesaffected?
uHowisthequantitytradedaffected?
uWhopaysthetax?
uHowaregains-to-tradealtered?
QuantityTaxesuAtaxratetmakesthepricepaidbybuyers,pb,higherbytfromthepricereceivedbysellers,ps.QuantityTaxesuEvenwithataxthemarketmustclear.uI.e.quantitydemandedbybuyersatpricepbmustequalquantitysuppliedbysellersatpriceps.QuantityTaxesanddescribethemarketsequilibrium.Noticethatthesetwoconditionsapplynomatterifthetaxisleviedonsellersoronbuyers.Hence,asalestaxrate$thasthesameeffectasanexcisetaxrate$t.QuantityTaxes&MarketEquilibriumpD(p),S(p)MarketdemandMarketsupplyp*q*NotaxQuantityTaxes&MarketEquilibriumpD(p),S(p)MarketdemandMarketsupplyp*q*$tAnexcisetaxraisesthemarketsupplycurveby$tQuantityTaxes&MarketEquilibriumpD(p),S(p)MarketdemandMarketsupplyp*q*Anexcisetaxraisesthemarketsupplycurveby$t,raisesthebuyerspriceandlowersthequantitytraded.$tpbqtQuantityTaxes&MarketEquilibriumpD(p),S(p)MarketdemandMarketsupplyp*q*Anexcisetaxraisesthemarketsupplycurveby$t,raisesthebuyerspriceandlowersthequantitytraded.$tpbqtAndsellersreceiveonlyps=pb-t.psQuantityTaxes&MarketEquilibriumpD(p),S(p)MarketdemandMarketsupplyp*q*NotaxQuantityTaxes&MarketEquilibriumpD(p),S(p)MarketdemandMarketsupplyp*q*Ansalestaxlowersthemarketdemandcurveby$t$tQuantityTaxes&MarketEquilibriumpD(p),S(p)MarketdemandMarketsupplyp*q*Ansalestaxlowersthemarketdemandcurveby$t,lowersthesellerspriceandreducesthequantitytraded.$tqtpsQuantityTaxes&MarketEquilibriumpD(p),S(p)MarketdemandMarketsupplyp*q*Ansalestaxlowersthemarketdemandcurveb