微观经济Lecture10.ppt

微观经济Lecture10.ppt

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2010PearsonEducationCanada2010PearsonEducationCanadaTheinventionoftheWorldWideWebhaspavedthewayforthecreationofthousandsofprofitablebusinesses,suchasGoogle,Inc.HowdoGoogleandtheother2millionfirmsinCanadamaketheirbusinessdecisions?

Mostofthefirmsdontmakethings;theybuyandsellthings.Forexample,AppledoesntmaketheiPod.ToshibamakestheiPodsharddriveanddisplaymoduleandInventecassemblestheiPod.WhydoesntApplemakeitsiPod?

Howdofirmsdecidewhattomakethemselvesandwhattobuyfromotherfirms?

2010PearsonEducationCanadaTheFirmandItsEconomicProblemAfirmisaninstitutionthathiresfactorsofproductionandorganizesthemtoproduceandsellgoodsandservices.TheFirmsGoalAfirmsgoalistomaximizeprofit.Ifthefirmfailstomaximizeitsprofit,thefirmiseithereliminatedorboughtoutbyotherfirmsseekingtomaximizeprofit.2010PearsonEducationCanadaAccountingProfitAccountantsmeasureafirmsprofittoensurethatthefirmpaysthecorrectamountoftaxandtoshowitinvestorshowtheirfundsarebeingused.Profitequalstotalrevenueminustotalcost.AccountantsuseInternalRevenueServicerulesbasedonstandardsestablishedbytheFinancialAccountingStandardsBoardtocalculateafirmsdepreciationcost.TheFirmandItsEconomicProblem2010PearsonEducationCanadaEconomicProfitEconomistsmeasureafirmsprofittoenablethemtopredictthefirmsdecisions,andthegoalofthesedecisionsintomaximizeeconomicprofit.Economicprofitisequaltototalrevenueminustotalcost,withtotalcostmeasuredastheopportunitycostofproduction.TheFirmandItsEconomicProblem2010PearsonEducationCanadaAFirmsOpportunityCostofProductionAfirmsopportunitycostofproductionisthevalueofthebestalternativeuseoftheresourcesthatafirmusesinproduction.AfirmsopportunitycostofproductionisthesumofthecostofusingresourcesBoughtinthemarketOwnedbythefirmSuppliedbythefirmsownerTheFirmandItsEconomicProblem2010PearsonEducationCanadaResourcesBoughtintheMarketTheamountspentbyafirmonresourcesboughtinthemarketisanopportunitycostofproductionbecausethefirmcouldhaveboughtdifferentresourcestoproducesomeothergoodorservice.TheFirmandItsEconomicProblem2010PearsonEducationCanadaResourcesOwnedbytheFirmIfthefirmownscapitalandusesittoproduceitsoutput,thenthefirmincuranopportunitycost.Thefirmincursanopportunitycostofproductionbecauseitcouldhavesoldthecapitalandrentedcapitalfromanotherfirm.Thefirmimplicitlyrentthecapitalfromitself.Thefirmsopportunitycostofusingthecapitalitownsiscalledtheimplicitrentalrateofcapital.TheFirmandItsEconomicProblem2010PearsonEducationCanadaTheimplicitrentalrateofcapitalismadeupof1.Economicdepreciation2.InterestforgoneEconomicdepreciationisthechangeinthemarketvalueofcapitaloveragivenperiod.Interestforgoneisthereturnonthefundsusedtoacquirethecapital.TheFirmandItsEconomicProblem2010PearsonEducationCanadaResourcesSuppliedbytheFirmsOwnerTheownermightsupplybothentrepreneurshipandlabour.Thereturntoentrepreneurshipisprofit.Theprofitthatanentrepreneurcanexpecttoreceiveonaverageiscallednormalprofit.Normalprofitisthecostofentrepreneurshipandisacostofproduction.TheFirmandItsEconomicProblem2010PearsonEducationCanadaInadditiontosupplyingentrepreneurship,theownermightsupplylabourbutnottakeaswage.Theopportunitycostoftheownerslabouristhewageincomeforgonebynottakingthebestalternativejob.EconomicAccounting:

ASummaryEconomicprofitequalsafirmstotalrevenueminusitstotalopportunitycostofproduction.TheexampleinTable10.1onthenextslidesummarizestheeconomicaccounting.TheFirmandItsEconomicProblem2010PearsonEducationCanadaTheFirmandItsEconomicProblem2010PearsonEducationCanadaTheFirmsDecisionsTomaximizeprofit,afirmmustmakefivebasicdecisions:

1.Whattoproduceandinwhatquantities2.Howtoproduce3.Howtoorganizeandcompensateitsmanagersandworkers4.Howtomarketandpriceitsproducts5.WhattoproduceitselfandwhattobuyfromotherfirmsTheFirmandItsEconomicProblem2010PearsonEducationCanadaTheFirmsConstraintsThefirmsprofitislimitedbythreefeaturesoftheenvironment:

TechnologyconstraintsInformationconstraintsMarketconstraintsTheFirmandItsEconomicProblem2010PearsonEducationCanadaTechnologyConstraintsTechnologyisanymethodofproducingagoodorservice.Technologyadvancesovertime.Usingtheavailabletechnology,thefirmcanproducemoreonlyifithiresmoreresources,whichwillincreaseitscostsandlimittheprofitofadditionaloutput.TheFirmandItsEconomicProblem2010PearsonEducationCanadaInformationConstraintsAfirmneverpossessescompletein