AP微观经济学3

5.GovernmentInterferenceFrameworkTypesofgoodsPrivategoodsPublicgoodsQuasi-publicgoodsMeasuresofefficiencyTechnologicalefficiencyAllocativeefficiencyParetoefficiencyGovernmentinterferenceMarketfailureExternalitiesOtherbasesPrivategoodsExclusioncharacteristic:onewhoisunwillingorunabletobuyagoodisdenieditsbenefits.Onemoregoodformemeansonelessgoodforyou.Distributivecharacteristics:canbedividedintoseveralunitstosell.PublicgoodsNon-exclusion:availableforallpeopleregardlessofrefusingtopayforthem,suchasnationaldefense.Thecostofonemoreunitofapublicgooddoesn’tresultinonelessunitavailabletoothers.Non-distributive:arenotmarketablesincebenefitscannotbedeniedandtheunitsofapublicgoodarenotdivisible.Quasi-publicgoodsThesegoodsareclassifiedaspublicgoodswithsomeprivategoodsattributes.Suchascongestiblepublicgoods:apublictunnelatnon-rushhours:publicgoodatrushhours:privategood,andonemorecaronthecongestedtunnelmeansthatmuchlessspaceforothercars.TechnologicalandallocativeefficiencyTechefficiency:whenhavethegreatestoutputsonperdollarcostofinputs.(max:output/input)Anyimprovementinthevalueofthisratiowillallowustoincreaseourproductivity,ortomakemoreefficientuseofresources.Theindustriesandfirmsthathavethehighestproductivityarerewardedwithhigherprofits;theirprofitsarethemotivationtocontinuetoproduce.ParetoefficiencySocietyreachesanoptimalpointwhenanyfurtherimprovementforsomecomesattheexpenseofothers,ornoonecangainwithoutotherslosingtheirbenefits.MarketfailureMeansthatthebuyerandsellerarenotableorwillingtoagreeonthetermsofthetransaction(buyerscan’tbuyandsellerscan’tsell).Marketfailurealsoreferstofailureofthemarketmechanismstoachieveoptimaloutcomes.ThereasonsformarketfailurePublicgoodsMonopolyAsymmetricinformationExternalitiesPositiveexternalitiesPriceQuantityD=marginalbenefit(private)S=marginalsocialcostP1P2Q2Q1D’=marginalsocialbenefit1.Apositiveexternalitymeansbenefitsoutsidetheexchange.2.MSB=MBP+positiveexternality3.Positiveexternality=subsidy4.MSB=MSCNegativeexternalitiesPriceQuantityS=marginalcost(private)S’=marginalsocialcostP1HigherpriceLowerQQ1D=marginalsocialbenefit1.Anegativeexternalitymeanscostsburdenedbyothers.2.MSC=MCP+negativeexternality3.Negativeexternality=tax4.MSB=MSCOthergovernmentinterferencesProducersaremandatorytoreleasetheirproductinformationforsocialbenefit.Whenpublicgoodbenefits/publicgoodcosts1privategood/privategoodcosts,publicgoodsvalue!Transferpaymentstohelpthepoor.Thegovernmentpenalizesdeceptivesalesorunfaircompetition,orlaunchantitrust.Thegovernmentstabilizespricesortheeconomythroughfiscalandmonetarymeasures.6.Costs,production,supplyAnalysisofRevenueandCost(Economic)profitTotalrevenueminustotaleconomiccost;(TR—TC)Totalrevenue(TR)Pricetimesquantity(P*Q),orthesumofindividualunitssoldtimestheirrespectiveprices;∑Pi*Qi)Averagerevenue(AR)Totalrevenuedividedbyquantity;(TR/Q)Marginalrevenue(MR)Changeintotalrevenuedividedbychangeinquantity;(⊿TR/⊿Q)CostsTotalfixedcost(TFC)Sumofallfixedexpenses;heredefinedtoincludeallopportunitycostsTotalvariablecost(TVC)Sumofallvariableexpenses,orperunitvariablecosttimesquantity;(perunitVC*Q)Totalcosts(TC)Totalfixedcostplustotalvariablecost;(TFC+TVC)Averagefixedcost(AFC)Totalfixedcostdividedbyquantity;(TFC/Q)Averagevariablecost(AVG)Totalvariablecostdividedby'quantity;(TVC/Q)Averagetotalcost(ATC)Totalcostdividedbyquantity;(TC/Q)or(AFC+AVG)Marginalcost(MC)Changeintotalcostdividedbychangeinquantity;(⊿TC/⊿Q)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&shorttermTheshortterm/runisdefinedasatimeperiodforwhichquantitiesofsomeresourcesarefixed,suchasbuildings,technologyandequipment.Thetechnologyofproductionisfixedintheshortrunandisaconstraintonafirm’sabilitytoincreaseproduction.Typically,economiststreatlaborandrawmaterialsasvariableintheshortrun,holdingplantsize,capitalequipment,andtechnologyconstant.Allofthesefactorsbecomevariableinthelongrun.LawofdiminishingmarginalproductivityTotaloutputVariableinputs(labor)Inputsareresourcesusedintheproduction.Suppose,variableinputsareaddedwhilefixedinputsareconstant(intheshortrun).IncreaseatanincreasingrateToofewvariableinputsIncreaseatadecreasingrateToomanyvariableinputs,LessefficientDecreaseintotaloutputMarginal/averagephysicalproductcurveAPPMPPVariableinputs(labor)TotaloutputTotal,Average,Marginal,Fixed,andVariablecostsTotalfixedcost(TF