清华经管IMBA管理经济学课件5

Fernando&YvonnQuijanoPreparedby:Production6CHAPTERCopyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.Chapter6:Production2of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.CHAPTER6OUTLINE6.1TheTechnologyofProduction6.2ProductionwithOneVariableInput(Labor)6.3ProductionwithTwoVariableInputs6.4ReturnstoScaleChapter6:Production3of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.Chapter6:Production4of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.ProductionThetheoryofthefirmdescribeshowafirmmakescost-minimizingproductiondecisionsandhowthefirm’sresultingcostvarieswithitsoutput.Theproductiondecisionsoffirmsareanalogoustothepurchasingdecisionsofconsumers,andcanlikewisebeunderstoodinthreesteps:1.ProductionTechnology2.CostConstraints3.InputChoicesTheProductionDecisionsofaFirmChapter6:Production5of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.THETECHNOLOGYOFPRODUCTION6.1TheProductionFunction●factorsofproductionInputsintotheproductionprocess(e.g.,labor,capital,andmaterials).Rememberthefollowing:(,)qFKL=Inputsandoutputsareflows.Equation(6.1)appliestoagiventechnology.Productionfunctionsdescribewhatistechnicallyfeasiblewhenthefirmoperatesefficiently.●productionfunctionFunctionshowingthehighestoutputthatafirmcanproduceforeveryspecifiedcombinationofinputs.(6.1)Chapter6:Production6of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.THETECHNOLOGYOFPRODUCTION6.1TheShortRunversustheLongRun●shortrunPeriodoftimeinwhichquantitiesofoneormoreproductionfactorscannotbechanged.●fixedinputProductionfactorthatcannotbevaried.●longrunAmountoftimeneededtomakeallproductioninputsvariable.Chapter6:Production7of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.TABLE6.1ProductionwithOneVariableInput0100——110101010210301520310602030410802020510951915610108181371011216481011214091010812−4101010010−8PRODUCTIONWITHONEVARIABLEINPUT(LABOR)6.2TotalOutput(q)AmountofLabor(L)AmountofCapital(K)MarginalProduct(∆q/∆L)AverageProduct(q/L)Chapter6:Production8of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.PRODUCTIONWITHONEVARIABLEINPUT(LABOR)6.2AverageandMarginalProducts●averageproductOutputperunitofaparticularinput.●marginalproductAdditionaloutputproducedasaninputisincreasedbyoneunit.Averageproductoflabor=Output/laborinput=q/LMarginalproductoflabor=Changeinoutput/changeinlaborinput=Δq/ΔLChapter6:Production9of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.PRODUCTIONWITHONEVARIABLEINPUT(LABOR)6.2TheSlopesoftheProductCurveThetotalproductcurvein(a)showstheoutputproducedfordifferentamountsoflaborinput.Theaverageandmarginalproductsin(b)canbeobtained(usingthedatainTable6.1)fromthetotalproductcurve.AtpointAin(a),themarginalproductis20becausethetangenttothetotalproductcurvehasaslopeof20.AtpointBin(a)theaverageproductoflaboris20,whichistheslopeofthelinefromtheorigintoB.TheaverageproductoflaboratpointCin(a)isgivenbytheslopeoftheline0C.ProductionwithOneVariableInputFigure6.1Chapter6:Production10of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.PRODUCTIONWITHONEVARIABLEINPUT(LABOR)6.2TheSlopesoftheProductCurveTotheleftofpointEin(b),themarginalproductisabovetheaverageproductandtheaverageisincreasing;totherightofE,themarginalproductisbelowtheaverageproductandtheaverageisdecreasing.Asaresult,Erepresentsthepointatwhichtheaverageandmarginalproductsareequal,whentheaverageproductreachesitsmaximum.AtD,whentotaloutputismaximized,theslopeofthetangenttothetotalproductcurveis0,asisthemarginalproduct.ProductionwithOneVariableInput(continued)Figure6.1Chapter6:Production11of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.PRODUCTIONWITHONEVARIABLEINPUT(LABOR)6.2TheLawofDiminishingMarginalReturnsLaborproductivity(outputperunitoflabor)canincreaseifthereareimprovementsintechnology,eventhoughanygivenproductionprocessexhibitsdiminishingreturnstolabor.AswemovefrompointAoncurveO1toBoncurveO2toConcurveO3overtime,laborproductivityincreases.TheEffectofTechnologicalImprovementFigure6.2●lawofdiminishingmarginalreturnsPrinciplethatastheuseofaninputincreaseswithotherinputsfixed,theresultingadditionstooutputwilleventuallydecrease.•Whenthelaborinputissmall,MPincreasesduetospecialization.•Whenthelaborinputislarge,MPdecreasesduetoinefficiencies.Chapter6:Production12of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.PRODUCTIONWITHONEVARIABLEINPUT(LABOR)6.2ThelawofdiminishingmarginalreturnswascentraltothethinkingofpoliticaleconomistThomasMalthus(1766–1834).Malthusbelievedthattheworld’slimitedamountoflandwouldnotbeabletosupply