平狄克《微观经济学》(第七版)08.ppt

平狄克《微观经济学》(第七版)08.ppt

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Fernando&YvonnQuijanoPreparedby:

ProfitMaximizationandCompetitiveSupply8CHAPTERCopyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.Chapter8:

ProfitMaximizationandCompetitiveSupply2of36Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.CHAPTER8OUTLINE8.1PerfectlyCompetitiveMarkets8.2ProfitMaximization8.3MarginalRevenue,MarginalCost,andProfitMaximization8.4ChoosingOutputintheShortRun8.5TheCompetitiveFirmsShort-RunSupplyCurve8.6TheShort-RunMarketSupplyCurve8.7ChoosingOutputintheLongRun8.8TheIndustrysLong-RunSupplyCurveChapter8:

ProfitMaximizationandCompetitiveSupply3of36Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.PERFECTLYCOMPETITIVEMARKETS8.1Themodelofperfectcompetitionrestsonthreebasicassumptions:

（1）pricetaking,

（2）producthomogeneity,and（3）freeentryandexit.PriceTakingBecauseeachindividualfirmsellsasufficientlysmallproportionoftotalmarketoutput,itsdecisionshavenoimpactonmarketprice.pricetakerFirmthathasnoinfluenceovermarketpriceandthustakesthepriceasgiven.ProductHomogeneityWhentheproductsofallofthefirmsinamarketareperfectlysubstitutablewithoneanotherthatis,whentheyarehomogeneousnofirmcanraisethepriceofitsproductabovethepriceofotherfirmswithoutlosingmostorallofitsbusiness.Chapter8:

ProfitMaximizationandCompetitiveSupply4of36Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.PERFECTLYCOMPETITIVEMARKETS8.1FreeEntryandExitfreeentry（orexit）Conditionunderwhichtherearenospecialcoststhatmakeitdifficultforafirmtoenter（orexit）anindustry.WhenIsaMarketHighlyCompetitive?

Becausefirmscanimplicitlyorexplicitlycolludeinsettingprices,thepresenceofmanyfirmsisnotsufficientforanindustrytoapproximateperfectcompetition.Conversely,thepresenceofonlyafewfirmsinamarketdoesnotruleoutcompetitivebehavior.Chapter8:

ProfitMaximizationandCompetitiveSupply5of36Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.PROFITMAXIMIZATION8.2DoFirmsMaximizeProfit?

Theassumptionofprofitmaximizationisfrequentlyusedinmicroeconomicsbecauseitpredictsbusinessbehaviorreasonablyaccuratelyandavoidsunnecessaryanalyticalcomplications.Forsmallerfirmsmanagedbytheirowners,profitislikelytodominatealmostalldecisions.Inlargerfirms,however,managerswhomakeday-to-daydecisionsusuallyhavelittlecontactwiththeowners（i.e.thestockholders）.Inanycase,firmsthatdonotcomeclosetomaximizingprofitarenotlikelytosurvive.Firmsthatdosurviveincompetitiveindustriesmakelong-runprofitmaximizationoneoftheirhighestpriorities.AlternativeFormsofOrganizationcooperativeAssociationofbusinessesorpeoplejointlyownedandoperatedbymembersformutualbenefit.Chapter8:

ProfitMaximizationandCompetitiveSupply6of36Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.PROFITMAXIMIZATION8.2Nationwide,condosareafarmorecommonthanco-ops,outnumberingthembyafactorofnearly10to1.Inthisregard,NewYorkCityisverydifferentfromtherestofthenationco-opsaremorepopular,andoutnumbercondosbyafactorofabout4to1.WhataccountsfortherelativepopularityofhousingcooperativesinNewYorkCity?

Partoftheanswerishistorical.HousingcooperativesareamucholderformoforganizationintheU.S.ThebuildingrestrictionsinNewYorkhavelongdisappeared,andyettheconversionofapartmentsfromco-opstocondoshasbeenrelativelyslow.Thetypicalcondominiumapartmentisworthabout15.5percentmorethanaequivalentapartmentheldintheformofaco-op.ItappearsthatinNewYork,manyownershavebeenwillingtoforgosubstantialamountsofmoneyinordertoachievenon-monetarybenefits.Chapter8:

ProfitMaximizationandCompetitiveSupply7of36Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.MARGINALREVENUE,MARGINALCOST,ANDPROFITMAXIMIZATION8.3profitDifferencebetweentotalrevenueandtotalcost.（q）=R（q）C（q）marginalrevenueChangeinrevenueresultingfromaone-unitincreaseinoutput.ProfitMaximizationintheShortRunFigure8.1Afirmchoosesoutputq*,sothatprofit,thedifferenceABbetweenrevenueRandcostC,ismaximized.Atthatoutput,marginalrevenue（theslopeoftherevenuecurve）isequaltomarginalcost（theslopeofthecostcurve）./q=R/qC/q=0MR（q）=MC（q）Chapter8:

ProfitMaximizationandCompetitiveSupply8of36Copyright2009PearsonEducation,Inc.PublishingasPrenticeHallMicroeconomicsPindyck/Rubinfeld,7e.MARGINALREVENUE,MARGINALCOST,ANDPROFITMAXIMIZATION8.3DemandandMarginalRevenuefo