平狄克-微观经济学-英文-第7版-课件-ch06

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.ProductionThetheoryofthefirmdescribeshowafirmmakescost-minimizingproductiondecisionsandhowthefirm’sresultingcostvarieswithitsoutput.Theproductiondecisionsoffirmsareanalogoustothepurchasingdecisionsofconsumers,andcanlikewisebeunderstoodinthreesteps:1.ProductionTechnology2.CostConstraints3.InputChoicesTheProductionDecisionsofaFirmChapter6:Production4of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.THETECHNOLOGYOFPRODUCTION6.1TheProductionFunction●factorsofproductionInputsintotheproductionprocess(e.g.,labor,capital,andmaterials).Rememberthefollowing:(,)(6.1)qFKLInputsandoutputsareflows.Equation(6.1)appliestoagiventechnologyProductionfunctionsdescribewhatistechnicallyfeasiblewhenthefirmoperatesefficiently.●productionfunctionFunctionshowingthehighestoutputthatafirmcanproduceforeveryspecifiedcombinationofinputs.Chapter6:Production5of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.THETECHNOLOGYOFPRODUCTION6.1TheShortRunversustheLongRun●shortrunPeriodoftimeinwhichquantitiesofoneormoreproductionfactorscannotbechanged.●fixedinputProductionfactorthatcannotbevaried.●longrunAmountoftimeneededtomakeallproductioninputsvariable.Chapter6:Production6of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.TABLE6.1ProductionwithOneVariableInput0100——11010101021030152031060203041080202051095191561010818137101121648101121409101081241010100108PRODUCTIONWITHONEVARIABLEINPUT(LABOR)6.2TotalOutput(q)AmountofLabor(L)AmountofCapital(K)AverageProduct(q/L)MarginalProduct(∆q/∆L)Chapter6:Production7of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.PRODUCTIONWITHONEVARIABLEINPUT(LABOR)6.2AverageandMarginalProducts●averageproductOutputperunitofaparticularinput.●marginalproductAdditionaloutputproducedasaninputisincreasedbyoneunit.Averageproductoflabor=Output/laborinput=q/LMarginalproductoflabor=Changeinoutput/changeinlaborinput=Δq/ΔLChapter6:Production8of24Copyright©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:Production9of24Copyright©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:Production10of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.PRODUCTIONWITHONEVARIABLEINPUT(LABOR)6.2TheLawofDiminishingMarginalReturnsLaborproductivity(outputperunitoflabor)canincreaseifthereareimprovementsintechnology,eventhoughanygivenproductionprocessexhibitsdiminishingreturnstolabor.AswemovefrompointAoncurveO1toBoncurveO2toConcurveO3overtime,laborproductivityincreases.TheEffectofTechnologicalImprovementFigure6.2●lawofdiminishingmarginalreturnsPrinciplethatastheuseofaninputincreaseswithotherinputsfixed,theresultingadditionstooutputwilleventuallydecrease.Chapter6:Production11of24Copyright©2009PearsonEducation,Inc.PublishingasPrenticeHall•Microeconomics•Pindyck/Rubinfeld,7e.PRODUCTIONWITHONEVARIABLEINPUT(LABOR)6.2ThelawofdiminishingmarginalreturnswascentraltothethinkingofpoliticaleconomistThomasMalthus(1766–1834).Malthusbelievedthattheworld’slimitedamountoflandwouldnotbeabletosupplyenoughfoodasthepopulationgrew.Hepredictedthatasboththemarginalandaverageproductivityoflaborfellandthereweremoremouthstofeed,masshungerandstarvationwouldresult.Fortunately,Malthuswaswrong(althoughhewasrightaboutthediminishingmarginalretu