西方經(jīng)濟學課件

Economics

2Tenprinciple(原則)1、peoplefacetradeoffs(權衡)2、thecostofsomethingiswhatyougiveuptogetit3、rationalpeoplethinkatthemargin(邊際)4、peoplerespondtoincentives(刺激)3Tenprinciple(原則)5、Trade(貿(mào)易）canmakeeveryonebetteroff（更美好）6、Marketsareusuallyagoodwaytoorganizeeconomicactivity7、Governments（政府）cansometimesimproveeconomicoutcome4Tenprinciple(原則)8、Thestandardoflivingdependsonacountry’sproduction.9、Pricesrisewhenthegovernmentprintstoomuchmoney10、Societyfacesashort-runtradeoff（權衡）betweeninflation(通貨膨脹)andunemployment(失業(yè))5TenprincipleSchool1、classic(古典的）economic2、KNSeconomicClassiceconomic’assumption(假定）1、rationalman2、perfectcompetition（完全競爭）3、certainty(確定性）6Part1StudyobjectofeconomicsScarcity(稀缺性)ReasonofscarcityPeople‘swantisunlimited(無限的)Goods、serviceandneedsislimitedEconomiccreation(產(chǎn)生)Scarcityofresourcesleadstoeconomiccreation7Part1StudyobjectofeconomicsMaslowtheory

BasicphysicalneedsNeedsofsecuritySocialneedsNeedsofstatusSelf-realization

8Part1StudyobjectofeconomicsHowtochoose

HowtochoosecurrenteconomicresourcesHowtouselimitedtimeHowtochoosewaystosatisfypeople’swants

Howtogiveupsomewantstosatisfysomeotherwants9Part1StudyobjectofeconomicsEconomicdefinition

Choose。ProduceDistributeConsume

10Part1Studyobjectofeconomics

Opportunitycost

Produceproduction

AbandonotherproductionsThemostprofit11Part1StudyobjectofeconomicsProductionpossibilityfrontier(生產(chǎn)可能性邊界)DefinitionItdemonstratesthateconomyreachesthemostproductivecombinationundergiveneconomicresourcesandtechnologycondition(是指一個社會用其全部資源和當時最好的技術所能生產(chǎn)的各種產(chǎn)品的數(shù)量的組合)Meaning:1、Limitation2、choice3、opportunitycost

12Part1Studyobjectofeconomics

Micro-economyandmacro-economy

Differencebetweenmicro-economyandmacro-economyMicro-economyregardsindividualeconomicunitasstudyobject,whilemacro-economyregardsnationaleconomicactivityasstudyobject.(微觀經(jīng)濟學把單個經(jīng)濟單位作為研究對象,而宏觀經(jīng)濟學把國民經(jīng)濟活動作為研究對象.)Individualeconomicvariableoutput,cost,profit,factor’squantityMacro-economicvariable

1、GDP（國內(nèi)生產(chǎn)總值）2、economicgrowthrates3、unemploymentrates4、aggregatelevelofprice

13Part1Studyobjectofeconomicsresearchsubjectofmicro-economics1、Howdidfamilydistributeitsincome2、howtogetthemost14Part1Studyobjectofeconomics一、researchsubjectthewholenationaleconomic1、economicgrowth(經(jīng)濟增長)2、economicfluctuation(波動)3、employment(就業(yè))4、inflation（通貨膨脹）5、exportandimport(進口和出口)6、internationalpayment(國際支付)7、nationalfiscalincome(國家財政收入)15Part2OrganizationformOrganizationform

SoleproprietorshipPartnershipCorporation16Part2OrganizationformAdvantageofcorporationcomparedwithotherorganizationformsLimitedliabilityPermanencyFlexibilityAbilitytoraisecapital17Part3Maximizationofshareholderwealth

WhatistheFundamentalgoaloffinancialdecisionsThegoalistomaximizeshareholderwealthItsadvantage

1、timeandriskfactorisconsidered2、strongoperation3、noindividualfactor18Part4AgencyproblemsOrganizationcostControlcostPromptingcostOpportunitycost19Chapter2Demand、supplyandequilibriumprice

Micro-economyhandlesthepricemechanism(機制)tostudydistributionofresources.Thepricetheoryisthecoreofmicro-economy.

Inaperfectcompetitivemarket，demandandsupplyaretwobasicforcesthatdeterminemarketequilibriumprice.Sowewilldiscussdemandandsupplyfirstly.

微觀經(jīng)濟學運用價格機制來研究資源的配置問題，因此，價格理論是微觀經(jīng)濟學的核心。由於在純粹的市場經(jīng)濟中，需求和供給是決定市場均衡價格的兩大基本力量。因此，我們先討論需求與供給。）

20Chapter2Demand、supplyandequilibriumprice

Part1Demandandchangeindemand一、conceptofdemand

1、definition（定義）Quantityofagoodthatpeoplearewillingandabletopurchase（購買）duringagivenperiod,correspondingtopricesofakindofgoods,2、explanation①willingtopurchase(購買的意願）②abletopurchase（有能力購買）③

twovariablesrelatedtodemand:price（價格）、demandquantity（需求量）3、exampleCar、rice、realestateandsoon21Part1Demandandchangeindemand

Falseandrealdemand(bubble)（泡沫）PotentialdemandEffectivedemand22Part1Demandandchangeindemand

二、demandschedule、demandcurveandlawofdemand1、demandschedule（需求表）individualdemand（個人需求）,marketdemand（市場需求）2、demandcurveItsslopeisnegative（向下傾斜）3、lawofdemandPriceincreases,quantitydemandeddecreases

23Part1Demandandchangeindemand三、Determinants(決定）ofdemand（需求）1、marketprice

（價格）2、consumerincome（收入）normalgoodsinferiorgoods3、taste（偏好）4、priceofrelatedgoods（與之相關的價格）substitutegoodscomplementarygoods5、expectations（期望）24Part1Demandandchangeindemand五、demandfunction（需求函數(shù)）

Qd=f(I、T、P、Pi、E）六、changeinquantitydemanded（需求量的變動vs.changeindemand（需求的變動）25Part1DemandandchangeindemandDemandcurveQPD26Part1DemandandchangeindemandChangindemandＱP2P1Ｑ127Part2Supplyandchangeinsupply一、conceptofsupply

1、definition（定義）quantitythatsellersarewillingandabletosellinagiventime,correspondingtopricesofakindofgoods,

（在相應的價格下，生產(chǎn)者在一定價格水準下願意並且能夠提供的某種商品的數(shù)量）2、explanation①

willingtosell（願意提供）

②

abletoprovide（能夠提供）

③twovariablesrelatedtosupply:price（價格）、supplyquantity（供給量）3、exampleToyota

28Part2Supplyandchangeinsupply二、supplyschedule(表)、supplycurveandlawofsupply（供給定律）1、supplyscheduleindividualsupply,marketsupply2、supplycurveItsslopeispositive3、lawofsupplyPriceincreases,quantitysuppliedincreases29Part2Supplyandchangeinsupply三、determinantsofsupply(供給)1、priceitself

（自身的價格）2、technologyandlevelofmanagement（技術和管理水準）3、priceofproductionfactor（生產(chǎn)要素的價格）4、priceofothercommodity（其他商品的價格）5、expectations

(期望)30Part2Supplyandchangeinsupply四、supplyfunction（供給函數(shù)）

Qs=f(P,Pi,Pj,a,E,…)THereinto:Prepresentspriceitself.Pirepresentspriceofanothercommodity.Pjrepresentspriceofproductionfactor.arepresentstechnologyandlevelofmanagement.Erepresentsexpectation.31Part2Supplyandchangeinsupply

五、changeinquantitysupplied（供給量的變動）vs.changeinsupply（供給的變動）。32Part3EquilibriumpriceDemandincreasesP1ＰD1Ｑ2Ｑ133Part3EquilibriumpriceDemanddecreasesＱP2P1Ｑ1Part1Demandandchangeindemand34Part3EquilibriumpricechangeSupplyanddemand

both

D2P1Ｐ０Q135Part3Equilibriumprices一、taxTaxincidencestudieswhobearstheburdenoftax.Taxesresultinachangeinmarketequilibrium.Buyerspaymoreandsellersgetless,regardlessofwhomthetaxisleviedon.36Tax37Tax38Tax39taxWhatistheimpactoftax?TaxesdiscouragemarketactivityWhenagoodistaxed,thequantitysoldissmallerBuyersandsellerssharethetaxburden40TaxThinking…TheincidenceofTax1、Inwhatproportionsistheburdenofthetaxdivided2、Howdotheeffectsoftaxesonsellerscomparetothoseleviedonbuyers41Part4Elasticityanditsapplication一、Elasticity（彈性）1、definitionElasticityisameasureofhowmuchsellersandbuyersrespondtochangeinmarket

condition(針對市場狀況的變化，買者和賣者如何做出反應，做出多少反應）2、functionElasticityallowsustoanalysesupplyanddemandingreaterprecision

（定量化）42Part4Elasticityanditsapplication二、Elasticityofdemandwithrespecttoprice

（需求的價格彈性）

1、definitionThepercentageofchangeinquantitydemanded,givenpercentageofchangeinprice（2、measureAmeasureofhowmuchthequantitydemandedrespondstochangeinpriceofgoods

43Part4Elasticityanditsapplication三、Determinantsofelasticityofdemandwithrespecttoprice（需求彈性的決定）DemandtendstobemoreelasticIfthegoodisaluxury（奢侈品）ThelongerthetimeperiodThelargerthenumberofclosesubstitutes（更多的替代品）Themorewidelydefinedthemarket（更廣擴的市場）44Part4Elasticityanditsapplication

4、CalculatingthePriceElasticityofdemandThepriceelasticityofdemandiscalculatedasthepercentagechangeinthequantitydemandeddividedbythepercentagechangeinpricepriceelasticityofdemand=

45Part4Elasticityanditsapplication5、CalculatingthePriceElasticityofDemandusingtheMidpointFormulaThemidpointformulaispreferablewhencalculatingthepriceelasticityofdemandbecauseitgivesthesameanswerregardlessofthedirectionofthechange.46PartfourElasticityanditsapplication六、RangesofElasticity1、InelasticDemand(缺乏彈性)Quantitydemandeddoesnotrespondstronglytopricechanges.Priceelasticityofdemandislessthan1.2、ElasticDemandQuantitydemandedrespondsstronglytochangesinprice.Priceelasticityofdemandisgreaterthan1.47PartfourElasticityanditsapplicationRangesofelasticity1、PerfectlyInelasticQuantitydemandeddoesnotrespondtopricechanges2、PerfectlyElasticQuantitydemandedchangesinfinitelywithanychangeinprice3、UnitelasticQuantitydemandedchangeswiththesamepercentageastheprice48PartfourElasticityanditsapplication七、VarietyofDemandCurves（需求曲線的變化）Becausethepriceelasticityofdemandmeasureshowmuchquantitydemandedrespondstotheprice,itiscloselyrelatedtotheslopeofthedemandcurve.49PartfourElasticityanditsapplication八、Elasticity（彈性）andTotalRevenue(總收入）Totalrevenueistheamountboughtbybuyersorsoldbysellersofagood.Calculatedasthepriceofthegoodtimesthequantityboughtorsold.50PartfourElasticityanditsapplication九、ElasticityandTotalRevenue（彈性和總收入）Withaninelasticdemandcurve,anincreaseinpriceleadstoadecreaseinquantitythatisproportionatelysmaller，Thustotalrevenueincreases.51PartfourElasticityanditsapplication52PartfourElasticityanditsapplication十、ElasticityandTotalRevenue（Withanelasticdemandcurve,anincreaseinthepriceleadstoAdecreaseinquantitydemandedthatisproportionatelylarger.Thus,totalrevenuedecreases53PartfourElasticityanditsapplication54caseP1=500,Q1=100,adecreaseinpricesis10%,Ed=2,Ed=0.555CaseAnincreaseinsupplyinwheatmarketTaxonluxury5657Part4Elasticityanditsapplication1、Elasticityofdemandwithrespecttoincome.(收入彈性)1.1、measuremeasureofhowmuchquantitydemandedofgoodsrespondstoachangeinconsumer’sincome1.2、calculatingItiscomputingasthePercentageofchangeinquantitydemandeddividedbypercentageofchangeinprice1.3、normalgoodsandinferiorgoodsHigherincomeraisesthequantitydemandedfornormalgoodsbutlowerquantitydemandedforinferiorgoods

58Part4Elasticityanditsapplication1.4unitelasticinelasticelasticGoodsconsumersregardasnecessitiestendtobeincomeinelasticExamplesincludefood,fuel,clothing,medicalservicesGoodsconsumersregardasluxuriestendtobeincomeelasticExamplesincludesportscars,furs,andexpensivefoods59Elasticityanditsapplication1、ElasticityofdemandwithrespecttopriceofcommodityPercentageofchangeinquantitydemanded,givenpercentageofchangeinpriceofanothercommodity2、equation3、substitutegoodsandcomplementarygoods60ElasticityanditsapplicationElasticityofSupplywithrespecttopricequantitysuppliedrespondtochangeinpricecomputing61sort1、Perfectlyinelasticsupply62sortInelasticsupply63sortUnitelasticsupply64sortElasticsupply65sortPerfectlyelasticsupply66Determinantsofelasticsupply三、DeterminantsofelasticityofsupplywithrespecttopricesupplytendstobemoreinelasticIfproducingthegoodisverydifficultThebiggerscaleandmoredifficultscaleThebiggercostwithproductincreasing67policyAgricultureproductLegalLuxuryExportIncomesupply686970GovernmentpolicyInafree,unregulatedmarketsystem,MarketforcesestablishequilibriumpricesandexchangequantitiesWhileequilibriumconditionsmaybeefficient,itmaybetruethatnoteveryoneissatisfiedOneoftherolesofeconomistsistousetheirtheoriestoassistinthedevelopmentofpolicies71GovernmentpolicyPolicycontrolAreusuallyenactedwhenpolicymakersbelievethemarketpriceisunfairtobuyersorsellersResultingovernment-createdpriceceilingandfloor72GovernmentpolicyPriceceiling(限制性價格)andpricefloor(支持性價格)PriceceilingAlegallyestablishedmaximumpriceatwhichagoodcanbesoldPricefloorAlegallyestablishedminimumpriceatwhichagoodcanbesold73GovernmentpolicyTwooutcomesarepossiblewhenthegovernmentimposesapriceceiling1、thepriceceilingisnotbindingifsetabovetheequilibriumprice,leadingtoequilibrium2、Thepriceceilingisbindingifsetbelowtheequilibriumprice,leadingtoashortage74Governmentpolicy75Governmentpolicy76GovernmentpolicyEffectsofpriceceilingsAbindingpriceceilingcreatesshortagesbecauseQD>QSExample:GasolineshortageofthepresentNonpricerationingLonglineanddiscriminationbysellers77GovernmentpolicyOPECraisedthepriceofcrudeoilinworldmarkets.crudeoilisthemajorinputusedtomakegasoline,thehigheroilpricesreducedthesupplyofgasolineWhatwasresponsibleforthelonggasoline?Economistsblamegovernmentregulationsthatlimitedthepriceoilcouldchargeforgasoline787980GovernmentcontrolRentcontrolsareceilingsplacedontherentsthatlandlordsmaychargetheirtenantsThegoalofrentcontrolpolicy7istohelpthepoorbymakinghousingmoreaffordable818283GovernmentpolicyPricefloorsWhenthegovernmentimposesapricefloor,twooutcomesarepossibleThepricefloorisnotbindingifsetbelowtheequilibriumpriceThepricefloorisbindingifsetabovetheequilibriumprice,leadingtoasurplus848586case1某人擁有1000萬美元，他把這1000萬存入銀行一年可得利息50萬，他把這1000萬用於購買債券可得利息60萬美元，投資房地產(chǎn)可得200萬美元收益。（1）若其存入銀行，這1000萬美元的機會成本是多少？（2）若其購買債券，這1000萬美元的機會成本是多少？（3）若其投資房地產(chǎn)，這1000萬美元的機會成本又是多少？87case2.甲公司生產(chǎn)皮鞋，現(xiàn)價每雙60美元，某年的銷售量每月約10000雙，但其競爭對手乙公司在該年1月份把皮鞋價格從每雙65美元降到55美元，甲公司2月份銷售量跌倒8000雙。試問：（1）這兩個公司皮鞋的交叉彈性是多少（甲公司皮鞋價格不變）？（2）若甲公司皮鞋弧彈性是－2.0，乙公司把皮鞋價格保持在55美元，甲公司想把銷售恢復到每月10000雙的水準，則每雙要降到多少？88case3、人效用函數(shù)為U=4+Y，原來他消費9單位X，8單位Y，現(xiàn)在X減少4單位，問需要消費多少單位Y才能與以前的滿足相同？89case4、假設（1）X商品的需求曲線為直線，QX=40-0.5PX；（2）Y商品的需求函數(shù)亦為直線；（3）X與Y的需求曲線在PX=8的那一點相交；（4）在PX=8的那個交點上，X的需求彈性之絕對值只有Y的需求彈性之絕對值的1/2。請根據(jù)上述已知條件推導出Y的需求函數(shù)。5、假定某消費者的效用函數(shù)為U=X2Y3，他會把收入的多少用於商品Y上？90.已知某消費者每年用於商品1和商品2的收入為540元，兩商品的價格分別為P1＝20和P2＝30元，該消費者的無差異曲線為U＝X2Y3

，求：（1）X1、X2的均衡消費量；（2）消費者每年從中獲得的總效用是多少?91Consumer’sbehaviortheoryutility92FirmandproductiontheoryFirm(公司)anditsgoalProductionfunction(shortandlong)Theshort-runproductionfunctionThelongrunproductionfunctionReturntoscale(規(guī)模)

function(函數(shù))93Thelong-runproductionfunction94Firmandproductiontheory9596Considerwhyproductivityisthekeydeterminantofacountry’sstandardofliving.Analyzethefactorsthatdetermineacountry’sproductivityExaminehowacountry’spoliciesinfluenceitsproductivitygrowth972024-2-1498二、TP、AP

andMP

TP=9L+3L2-L3AP=TP/L=9+3L-L2MP=d(TP)/dL=9+6L-3L299用圖形表示的三者關係：OQLTPAPMPCAB100三、Isoquantcurve(等產(chǎn)量線）KL0204080204080ABCDQ=KL/8Q1=100101要素間的替代邊際技術替代率等於:

MRTS=-資本投入的改變量/勞動投入改變量4.MRTS102

LKQ1Q2Q3ABC103LkL1K1Q1Q2Q3ABC104四、Returntoscale(規(guī)模報酬)Returntoscale(規(guī)模報酬)

1constantreturntoscale

2increasingreturntoscale3decresingreturntoscale105LK102030報酬遞增:等產(chǎn)量線越來越接近510240A106ReturntoscaleLk報酬不變:等產(chǎn)量線間距相等10203015510240A6107ReturntoscaleLK報酬遞減:等產(chǎn)量線間距加大102030520280A108三、等成本曲線（isocostcurve）等成本線：

——

又稱企業(yè)預算線，它表示生產(chǎn)要素價格一定，生產(chǎn)者支出一定時，所能購買的兩種生產(chǎn)要素的各種組合。

C=Pk·K+Pl·L

LK012345246810C2109ProducerequilibriumABLKE1103、(1)C=Pk·K+PL·L

。（2）111PhysicalcapitalworkersaremoreproducegoodsandservicesiscalledphysicalcapitalHumancapitalaseconddeterminantofproductivity.humancapitalistheeconomist’stermfortheknowledgeandskillsthatworkersacquirethrougheducation,training,andexperience.naturalresourcesAthirddeterminantofproductivityisnaturalresources.NaturalresourcesareinputintoproductionthatareprovidedbynatureTechnologicalknowledgethebestwaystoproducegoodsandservices112Itisworthwhiletodistinguishbetweentechnologicalknowledgeandhumancapital.Althoughtheyarecloselyrelated,thereisanimportantdifference.Technologicalknowledgereferstosociety’sunderstandingabouthowtheworldworks.Humancapitalreferstotheresourcesexpendedtransmittingthisunderstandingtothelaborforce.Tousearelevantmetaphor,knowledgeisthequalityofsociety’stextbooks,whereashumancapitalistheamountoftimethatthepopulationhasdevotedtoreadingthem.Worker’sproductivitydependsonboththequalityoftextbookstheyhaveavailableandtheamountoftimetheyhavespentstudyingthem113Casestudy.Arenaturalresourcesalimittogrowth？114EconomicgrowthandpublicpolicySofar,wehavedeterminedthatasociety’sstandardoflivingdependsonphysicalcapital,humancapital,naturalresources,andtechnologicalknowledge.Let’snowturntothequestionfacedbypolicymakeraroundtheworld:whatcangovernmentpolicydotoraiseproductivityandlivingstandards115116DiminishingreturnsthepropertywherebythebenefitfromanextraunitofaninputdeclinesasthequantityoftheinputincreasesCatch-upeffectthepropertywherebycountriesthatstartoffpoortendtogrowmorerapidlythancountriesthatstartoffrich117InvestmentfromabroadEducationPropertyrightsandpoliticalstabilityDistinguishinward-orientedandoutward-orientedControlofpopulationgrowthaneverincreasingpopulationwouldcontinuallystrainsocietytoprovideforitself,thuspeoplewasdoomedtoforeverliveinpovertyResearchanddevelopment118FirmgoalandproductiontheoryCasestudyproductivityslowdown119Quickquiz:describethreewaysinwhichagovernmentpolicymakercantrytoraisethegrowthinlivingstandardsinasociety.arethereanydrawbacktopolicy120Conclusion:Theimportanceoflong-rungrowthAcountry’sstandardoflivingdependsonitsabilitytoproducegoodsandservices121122123CostofproductionCostasopportunitycostsAfirm’scostofproductionincludesalltheopportunitycostsofmakingitsoutputofgoodsandservicesExplicitandimplicitcost(顯性成本和隱性成本）Afirm’scostofproductionincludeexplicitcostsandimplicitcosts.

Explicitcostsinvolveadirectmoneyoutlayforfactorsofproduction.

Implicitcostsdonotinvolveadirectmoneyoutlay.124EconomicprofitversusaccountingProfit

Economistsmeasureafirm’seconomicprofitastotalrevenueminusalltheopportunitycosts(explicitandimplicit).

Accountantsmeasuretheaccountingprofitasthefirm’stotalrevenueminusonlythefirm’sexplicitcosts.Inotherwords,theyignoretheimplicitcosts.125EconomicProfitversusAccountingProfit

Whenexplicitandimplicitcosts,thefirmearnseconomicprofit.Economicprofitissmallerthanaccountingprofit.126127costRealprofitandfalseprofit1、Enron2、Dynegy3、worldcom128costProductfunctionDiminishingMarginalproductDiminishingmarginalproductisthepropertywherebythemarginalproductofaninputdeclinesasthequantityoftheinputincreaseExample:asmoreandmoreworkersarehiredatafirm,eachworkersproducelittlebylittle,becausethefirmhasalimitedequipment.129cost130costDiminishingMarginalproductionTheslopeoftheproductofaninput,suchasaworkerWhenthemarginalproductdecline,theproductionfunctionflatter.131costFromtheproductionfunctiontheTotal-costcurveTherelationshipbetweenthequantityafirmcanproduceanditscostsdeterminespricingdecisionsthetotalcurvesshowtherelationshipgraphically132cost133cost134costFixedandvariablecostsFixedcostsarethosecoststhatdonotvarywiththequantityofoutputproducedVariablecostsarethosecoststhatdovarywiththequantityofoutputproduced135costFamilyofTotalcostsTotalFixedCosts(TFC)TotalVariableCosts(TVC)TotalCosts(TC)TC=TFC+TVC136cost137costAverageCostsAveragecostscanbedeterminedbydividingthefirm’scostsbythequantityofoutputproducedTheaveragecostisthecosteachtypicalunitproduct138costFamilyofaveragecostsAverageFixedCosts(AFC)(平均固定成本）AverageVariableCosts(AVC)（平均可變成本）AverageTotalCosts(ATC)（平均成本）ATC=AFC+AVC139cost140cost141costMarginalcostMarginalcost(MC)measurestheamounttotalcostriseswhenthefirmincreasesproductionbyoneunitMarginalcosthelpanswerthefollowingquestions.Howmuchdoesitcostwhenyouincreaseoneunitofproduction.142cost143cost144cost145cost146costCostcurvesandtheirshapesMarginalcostriseswiththeamountofoutputproducedThisreflectsthepropertyofdiminishingmarginalproduct.147costCostcurvesandtheirshapesTheaveragetotal-costcurveisU-shapedAtverylowlevelsofoutputaveragetotalcostishighbecausefixedcostisspreadoveronlyafewunitsAveragecostdeclineasoutputincreaseAveragetotalcoststartsrisingbecauseaveragerisingcostsubstantially148costThreeimportantpropertiesofcostcurvesMarginalcosteventuallyriseswiththequantityofoutputTheaverage-total-costcurveisU-shapedThemarginal-costcurvescrossestheaverage-total-costcurvesattheminimumofaveragetotalcost.149cost150FirmgoalandproductiontheoryDiminishingmarginalreturntocapital(資本的邊際報酬遞減）1、apportiontoproductionfactorsisvariable2、leveloftechnologykeepconstant3、increasingproductionfactorshavesameefficiency3151introductionTheshortrunproductionfunctionProductioncurveLawofdiminishingreturntoproductionfunctionReasonableregionofproductionfactor152introductionThelongrunproductionfunctionIsoquantcurveIsocostcurveProductionequilibriumReturntoscale153FirmgoalandproductiontheoryReasonableregionofproductionfactor

1、thefirstregion2、thesecondregion3、thethirdregion154ThelongrunproductionfunctionIsoquantcurveOtherthingsbeingequal,trackofcombinationoftwoproductionfactorinordertoproducethequality155FirmgoalandproductiontheoryMarginaltechnologyratesofsubstitutionProperty1、protrudetozero2、nointersection3、slopedown4、MTS=156Producerequilibrium157ReturntoscaleIncreasingreturntoscaleConstantreturntoscaleDecreasingreturntoscaleDistinguishbetweenreturntoscaleandreturntoproductionfactor158EconomicsofscaleandreturntoscaleEconomicsofscaleWithproductionscaleincreasing,averagecostdecreaseDiseconomicsofscaleTheotherwayEconomicsofscale159caseAssume:ACountryisisolatedfromrestoftheworldandproducessteelThemarketforsteelconsistsofthebuyersandsellersinthecountryNooneinthecountryisallowedtoimportorexportsteel160case161caseEquilibriumwithoutinternationaltradeDomesticpriceadjuststobalancedemandandsupplyThesumofconsumerandproducersurplusmeasuresthetotalbenefitsthatbuyersandsellersreceive162caseWorldpriceandcomparativeadvantageIfthecountrydecidestoengageininternationaltrade,willitbeanimporterorexporterofsteel?163caseWorldpriceandcomparativeadvantageTheeffectsoffreetradecanbeshownbycomparingthedomesticpriceofagoodwithouttradeandtheworldpriceofthegood.TheworldpricereferstotheprevailingpriceintheworldmarketsThecountrywilleitherbecomeimporterorexporterofgood.164caseWorldpriceandcomparativeadvantageIfacountryhasacomparativeadvantage,thenthedomesticpricewillbebelowtheworldprice,andthecountrywillbeanexporterofthegood165caseIfthecountrydoesnothaveacomparativeadvantage,thenthedomesticpricewillbehigherthanthattheworldprice,andthecountrywillbeanimporterofthegood166case167case168169case170caseTheareasDshowstheincreaseintotalsurplusandrepresentsthegainsfromtrade.171caseTheanalysisofanexportingcountryyieldsconclusions:Domesticproducersofthegoodarebetteroff,anddomesticconsumersofthegoodareworseoffTraderaisestheeconomicwell-beingofthenationasawhole.172caseInternationaltradeandtheimportingcountryIftheworldpriceofsteelislowerthanthedomesticprice,thecountrywillbeanimporterofthesteelwhentradeispermitted173caseDomesticconsumerswillwanttobuysteelatthelowerworldprice174case175case176case177178case179caseTheanalysisofanimportingcountryyieldstwoconclusions:Domesticproducersofthegoodareworseoff,anddomesticconsumersofthegoodarebetteroffTraderaisestheeconomicwell-beingofthenationasawholebecausethegainsofconsumersexceedthelossesofproducers180caseThegainsofthewinnersexceedthelossesofthelosersThenetchangeintotalsurplusispositive.181caseTariffTariffsaretaxesonimportedgoodsTariffsraisethepriceofimportedgoodsabovetheworldpricebytheamountofthetariff.182case183case184case185186case187188case189caseTheareaD+Fshowsthefallintotalsurplusandrepresentsthedeadweightlossofthetariff190caseEffectoftariffsATariffreducesthequantityofimportsandmovesthedomesticmarketclosertoitsequilibriumwithouttradeWithatariff,totalsurplusinthemarketdecreasesbyanamountreferredtoasadeadweightloss191caseAnimportquotaisalimitonthequantityofimports.192193caseBecausethequotaraisesthedomesticpriceabovetheworldprice,domesticbuyersofthegoodareworseoff,anddomesticsellersoft