平狄克微观经济学课件(英文)12.ppt

平狄克微观经济学课件(英文)12.ppt

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Fernando&YvonnQuijanoPreparedby:

MonopolisticCompetitionandOligopoly12CHAPTERCopyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.Chapter12:

MonopolisticCompetitionandOligopoly2of35Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.CHAPTER12OUTLINE12.1MonopolisticCompetition12.2Oligopoly12.3PriceCompetition12.4CompetitionversusCollusion:

ThePrisonersDilemma12.5ImplicationsofthePrisonersDilemmaforOligopolisticPricing12.6CartelsChapter12:

MonopolisticCompetitionandOligopoly3of35Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.MonopolisticCompetitionandOligopolymonopolisticcompetitionMarketinwhichfirmscanenterfreely,eachproducingitsownbrandorversionofadifferentiatedproduct.oligopolyMarketinwhichonlyafewfirmscompetewithoneanother,andentrybynewfirmsisimpeded.cartelMarketinwhichsomeorallfirmsexplicitlycollude,coordinatingpricesandoutputlevelstomaximizejointprofits.Chapter12:

MonopolisticCompetitionandOligopoly4of35Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.MONOPOLISTICCOMPETITION12.1TheMakingsofMonopolisticCompetitionAmonopolisticallycompetitivemarkethastwokeycharacteristics:

1.Firmscompetebysellingdifferentiatedproductsthatarehighlysubstitutableforoneanotherbutnotperfectsubstitutes.Inotherwords,thecross-priceelasticitiesofdemandarelargebutnotinfinite.2.Thereisfreeentryandexit:

itisrelativelyeasyfornewfirmstoenterthemarketwiththeirownbrandsandforexistingfirmstoleaveiftheirproductsbecomeunprofitable.Chapter12:

MonopolisticCompetitionandOligopoly5of35Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.MONOPOLISTICCOMPETITION12.1EquilibriumintheShortRunandtheLongRunBecausethefirmistheonlyproducerofitsbrand,itfacesadownward-slopingdemandcurve.Priceexceedsmarginalcostandthefirmhasmonopolypower.Intheshortrun,describedinpart（a）,pricealsoexceedsaveragecost,andthefirmearnsprofitsshownbytheyellow-shadedrectangle.AMonopolisticallyCompetitiveFirmintheShortandLongRunFigure12.1Chapter12:

MonopolisticCompetitionandOligopoly6of35Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.MONOPOLISTICCOMPETITION12.1EquilibriumintheShortRunandtheLongRunInthelongrun,theseprofitsattractnewfirmswithcompetingbrands.Thefirmsmarketsharefalls,anditsdemandcurveshiftsdownward.Inlong-runequilibrium,describedinpart（b）,priceequalsaveragecost,sothefirmearnszeroprofiteventhoughithasmonopolypower.AMonopolisticallyCompetitiveFirmintheShortandLongRunFigure12.1（continued）Chapter12:

MonopolisticCompetitionandOligopoly7of35Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.MONOPOLISTICCOMPETITION12.1MonopolisticCompetitionandEconomicEfficiencyUnderperfectcompetition,priceequalsmarginalcost.Thedemandcurvefacingthefirmishorizontal,sothezero-profitpointoccursatthepointofminimumaveragecost.ComparisonofMonopolisticallyCompetitiveEquilibriumandPerfectlyCompetitiveEquilibriumFigure12.2Chapter12:

MonopolisticCompetitionandOligopoly8of35Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.MONOPOLISTICCOMPETITION12.1MonopolisticCompetitionandEconomicEfficiencyUndermonopolisticcompetition,priceexceedsmarginalcost.Thusthereisadeadweightloss,asshownbytheyellow-shadedarea.Thedemandcurveisdownward-sloping,sothezero-profitpointistotheleftofthepointofminimumaveragecost.ComparisonofMonopolisticallyCompetitiveEquilibriumandPerfectlyCompetitiveEquilibriumFigure12.2（continued）Inbothtypesofmarkets,entryoccursuntilprofitsaredriventozero.Inevaluatingmonopolisticcompetition,theseinefficienciesmustbebalancedagainstthegainstoconsumersfromproductdiversity.Chapter12:

MonopolisticCompetitionandOligopoly9of35Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.MONOPOLISTICCOMPETITION12.1TABLE12.1ElasticitiesofDemandforBrandsofColasandCoffeeBrandElasticityofDemandColasRoyalCrown2.4Coke5.2to5.7GroundcoffeeFolgers6.4MaxwellHouse8.2ChockFulloNuts3.6WiththeexceptionofRoyalCrownandChockFulloNuts,allthecolasandcoffeesarequitepriceelastic.Withelasticitiesontheorderof4to8,eachbrandhasonlylimitedmonopolypower.Thisistypicalofmonopolisticcompetition.Chapter12:

MonopolisticCompetitionandOligopoly10of35Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck