AP微觀經(jīng)濟(jì)學(xué)3.ppt

5 GovernmentInterference Framework TypesofgoodsPrivategoodsPublicgoodsQuasi publicgoodsMeasuresofefficiencyTechnologicalefficiencyAllocativeefficiencyParetoefficiencyGovernmentinterferenceMarketfailureExternalitiesOtherbases Privategoods Exclusioncharacteristic onewhoisunwillingorunabletobuyagoodisdenieditsbenefits Onemoregoodformemeansonelessgoodforyou Distributivecharacteristics canbedividedintoseveralunitstosell Publicgoods Non exclusion availableforallpeopleregardlessofrefusingtopayforthem suchasnationaldefense Thecostofonemoreunitofapublicgooddoesn tresultinonelessunitavailabletoothers Non distributive arenotmarketablesincebenefitscannotbedeniedandtheunitsofapublicgoodarenotdivisible Quasi publicgoods Thesegoodsareclassifiedaspublicgoodswithsomeprivategoodsattributes Suchascongestiblepublicgoods apublictunnelatnon rushhours publicgoodatrushhours privategood andonemorecaronthecongestedtunnelmeansthatmuchlessspaceforothercars Technologicalandallocativeefficiency Techefficiency whenhavethegreatestoutputsonperdollarcostofinputs max output input Anyimprovementinthevalueofthisratiowillallowustoincreaseourproductivity ortomakemoreefficientuseofresources Theindustriesandfirmsthathavethehighestproductivityarerewardedwithhigherprofits theirprofitsarethemotivationtocontinuetoproduce Paretoefficiency Societyreachesanoptimalpointwhenanyfurtherimprovementforsomecomesattheexpenseofothers ornoonecangainwithoutotherslosingtheirbenefits Marketfailure Meansthatthebuyerandsellerarenotableorwillingtoagreeonthetermsofthetransaction buyerscan tbuyandsellerscan tsell Marketfailurealsoreferstofailureofthemarketmechanismstoachieveoptimaloutcomes ThereasonsformarketfailurePublicgoodsMonopolyAsymmetricinformationExternalities Positiveexternalities Price Quantity D marginalbenefit private S marginalsocialcost P1 P2 Q2 Q1 D marginalsocialbenefit Apositiveexternalitymeansbenefitsoutsidetheexchange MSB MBP positiveexternalityPositiveexternality subsidyMSB MSC Negativeexternalities Price Quantity S marginalcost private S marginalsocialcost P1 Higherprice LowerQ Q1 D marginalsocialbenefit Anegativeexternalitymeanscostsburdenedbyothers MSC MCP negativeexternalityNegativeexternality taxMSB MSC Othergovernmentinterferences Producersaremandatorytoreleasetheirproductinformationforsocialbenefit Whenpublicgoodbenefits publicgoodcosts 1 privategood privategoodcosts publicgoodsvalue Transferpaymentstohelpthepoor Thegovernmentpenalizesdeceptivesalesorunfaircompetition orlaunchantitrust Thegovernmentstabilizespricesortheeconomythroughfiscalandmonetarymeasures 6 Costs production supply AnalysisofRevenueandCost FactorsofProduction Factorsofproduction theinputstotheproductionofgoodsandservices include Land asinthesitelocationofthebusiness Labor whichconsistsoftheinputsofskilledandunskilledworkersaswellastheinputsoffirms managers Capital whichinthiscontextreferstophysicalcapital suchtangiblegoodsasequipment tools andbuildings Capitalgoodsaredistinguishedasinputstoproductionthatarethemselvesproducedgoods Materials whichinthiscontextreferstoanygoodsthebusinessbuysasinputstoitsproductionprocess Foreconomicanalysis weoftenconsideronlytwoinputs capitalandlabor Productionfunction thequantityofoutputthatafirmcanproducecanbethoughtofasafunctionoftheamountsofcapitalandlaboremployedandrepresentedasQ f K L LongRunandShortRun Longterm shorttermTheshortterm runisdefinedasatimeperiodforwhichquantitiesofsomeresourcesarefixed suchasbuildings technologyandequipment Thetechnologyofproductionisfixedintheshortrunandisaconstraintonafirm sabilitytoincreaseproduction Typically economiststreatlaborandrawmaterialsasvariableintheshortrun holdingplantsize capitalequipment andtechnologyconstant Allofthesefactorsbecomevariableinthelongrun Lawofdiminishingmarginalproductivity Totaloutput Variableinputs labor Inputsareresourcesusedintheproduction Suppose variableinputsareaddedwhilefixedinputsareconstant intheshortrun IncreaseatanincreasingrateToofewvariableinputs IncreaseatadecreasingrateToomanyvariableinputs Lessefficient Decreaseintotaloutput Marginal averagephysicalproductcurve APP MPP Variableinputs labor Totaloutput Total Average Marginal Fixed andVariablecosts Totalfixedcost TFC isthecostofinputsthatdonotvarywiththequantityofoutputandcannotbeavoidedovertheperiodofanalysis Totalvariablecost TVC isthecostofallinputsthatvarywithoutputovertheperiodofanalysis Totalcost TC isthesumofallcosts fixedorvariable explicitandimplicit ofproducingaspecificlevelofoutput Totalcost totalfixedcost totalvariablecostMarginalcost changeintotalcost changeinoutputAveragefixedcost totalfixedcost outputAveragevariablecost totalvariablecost outputAveragecost totalcost output AFC AVC Outputandcosts Cost Output shirts Totalvariablecost 10 30 TC TFC TVC TotalCost 20 Totalfixedcost 10 30 20 Outputandcosts Cost Output shirts Avetotalcost TC Q 10 30 ATC AFC AVC Marginalcost 20 Avevariablecost TVC Q 10 30 20 Avefixedcost TFC Q Total Average Marginal Fixed andVariableCosts AFCslopesdownward TheverticaldistancebetweentheATCandAVCcurvesisequaltoAFC MCdeclinesinitially thenincreases MCintersectsAVCandATCattheirminimumpoints ATCandAVCareU shaped MinimumpointontheATCcurverepresentsthelowestcostperunit butitisnotnecessarilytheprofit maximizingpoint TheMCcurveaboveAVCisthefirm sshort runsupplycurveinaperfectlycompetitivemarket Economiesofscale Intheshort run fixedinputs lands factory areconstant onlyvariableinputs labor havetimetoadjusttothechangesindemand Inthelong run allinputsarevariable Economiesofscalearethosesavingsinaveragecostofproductionperunitthatarerealizedasthefirmincreasesproductionofitsgoods Economiesofscale Cost Q Short runATC Short runATC Short runATC Long runATC Economiesofscale Diseconomiesofscale Valueofalarge sizefirm Largerfirmscanbecomemoreefficientthansmallfirmsonthebasisofbeingabletohiremoreexpertise enjoyspecialization IncreaseinvolumeallowslargerfirmstodecreaseitsATC enjoyeconomiesofscale Largerfirmscanusethemostmoderntechnologythatwouldbetooexpensiveforsmallerfirms AccountingProfit EconomicProfitandNormalProfit Accountingprofitmaybereferredtoasnetincome netprofit netearnings orthe bottomline ofthefirm sincomestatement Accountingprofit totalrevenue totalaccounting explicit costEcon