14竞争市场中的厂商

时间:2025-07-06

武汉大学经济学考研资料

Chapter 14 Firms In Competitive Markets

武汉大学经济学考研资料

If your local gas station raised the price it charges for gasoline by 20 percent, it would see a large drop in the amount of gasoline it sold. Its customers would quickly switch to buying their gasoline at other gas stations. By contrast, if your local water company raised the price of water by 20 percent, it would see only a small decrease in the amount of water it sold. People might water their lawns less often and buy more water-efficient shower heads, but they would be hard pressed to reduce water consumption greatly and would be unlikely to find another supplier. The difference between the gasoline market and the water market is obvious: There are many firms pumping gasoline, but there is only one firm pumping water. As you might expect, this difference in market structure shapes the pricing and production decisions of the firms that operate in these markets.

武汉大学经济学考研资料

14.1 What Is A Competitive Market? A perfectly competitive market has the following characteristics: 1. There are many buyers and sellers in the market. 2. The goods offered by the various sellers are largely the same (homogeneous ie identical). 3. Firms can freely or exit the market. (there are no barriers to entry into or exit from the industry). 4. There is perfect knowledge. Firms and buyers are completely informed about the product prices of each firm in the industry. 5. The factors of production are completely mobile.

武汉大学经济学考研资料

14.1 What Is A Competitive Market? As a result of its characteristics, the perfectly competitive market has the following outcomes: The action of any single buyer or seller in the market have a negligible impact on the market price. Each buyer and seller takes the market price as given.

武汉大学经济学考研资料

14.1 What Is A Competitive Market? A competitive market has many buyers and sellers trading identical products so that each buyer and seller is a price taker. Buyers and sellers must accept the price determined by the market.

武汉大学经济学考研资料

14.1.2 The Revenue of a Competitive Firm Total revenue for a firm is the selling price times the quantity sold.TR = ( P×Q) Total revenue is proportional to the amount of the output.

Average revenue tells us how much revenue a firm receives for the typical unit sold. Average revenue is total revenue divided by the quantity sold.

武汉大学经济学考研资料

14.1.2 The Revenue of a Competitive Firm In perfect competition, average revenue equals the price of the good. Total revenue Total revenue Average Revenue = Quantity Price × Quantity =Quantity = Price

武汉大学经济学考研资料

14.1.2 The Revenue of a Competitive Firm Marginal revenue is the change in total revenue from an additional unit sold. MR = △TR/△Q For competitive firms, marginal revenue equals the price of the good.

武汉大学经济学考研资料

Table 1 Total, Average, and Marginal Revenue for a Competitive Firm Quantity(Q) 1 gallon 2 3 4 5 6 7 8

Price(P) $6 6 6 6 6 6 6 6

Total Revenue(TP=P×Q) $6 12 18 24 30 36 42 48

Average Revenue(AR=TR/Q) $6 6 6 6 6

6 6 6

Marginal Revenue(MR=ΔTR/ΔQ ) $6 6 6 6 6

66

武汉大学经济学考研资料

14.2 Profit Maximization and The Competitive Firm’s Supply Curve The goal of competitive firm is to maximize profit. This means that the firm will want to produce the quantity that maximizes the difference between total revenue and total cost.

武汉大学经济学考研资料

Table 2 Profit Maximization: A Numerical ExampleTotal Total Quantity Revenue Cost(Q) (TR) (TC)

Profit(TR-TC)

Marginal Revenue

Marginal Cost

Change in Profit

(MR=ΔTR/ΔQ) (MC=ΔTC/ΔQ) (MR-MC)

0 gallons1 2 3 4 5

$06 12 18 24 30

$35 8 12 17 23

-$31 4 6 7 7

$6 6 6 6 6 6 6 6

$2 3 4 5 6 7 8 9

$4 3 2 1 0 -1 -2 -3

67 8

3642 48

3038 47

64 1

武汉大学经济学考研资料

Figure 1 Profit Maximization for a Competitive FirmCosts and Revenue The firm maximizes profit by producing the quantity at which marginal cost equals marginal revenue.

MC

MC2 ATC P = MR1 = MR2 AVC P = AR = MR

MC1

0

Q1

QMAX

Q2

QuantityCopyright © 2004 South-Western

武汉大学经济学考研资料

Figure 14-1. Profit Maximization for a Competitive FirmCosts and Revenue MC2 P=MR1=MR2 MC1 The firm maximizes profit by producing the quantity at which marginal cost equals marginal revenue.

MC

ATC P=AR=MR AVC

0

Q1

QMAX

Q2

Quantity

武汉大学经济学考研资料

Figure 14-1. Profit Maximization for a Competitive FirmThis figure shows the marginal-cost curve (MC), the average-total-cost (ATC), and the average-variable-cost (AVC). It also shows the market price (P), which equals marginal revenue (MR) and average revenue (AR). At the quantity Q1, marginal revenue MR1 exceeds marginal cost MC1, so raising production increases profit. At the quantity Q2, marginal cost MC2 is above marginal revenue MR2 , so reducing production increases profit. The profit-maximizing quantity QMAX is found where the horizontal price line intersects the marginal-cost curve.

武汉大学经济学考研资料

14.2.2 The Marginal-Cost Curve and The Competitive Firm’s Supply Curve Profit maximization occurs at the quantity where marginal revenue equals marginal cost.

When MR > MC → increase Q When MR < MC → decrease Q

When MR = MC → Profit is maximized The portion of …… 此处隐藏:3698字,全部文档内容请下载后查看。喜欢就下载吧 ……

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