economic-surplus
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economicsurplus经济剩余消费者剩余consumersurplus边际成本surplusproducersurpluscapitalsurplusrevaluationsurplustradesurplus
English PPT Show Economy
JenkinGsome examples?
2. 3. 4. 5.
$500 $2500 $2000 $1000 $11000
Decisions are Made on the Margin(边际)
Rational(理性的) economic choices consider the marginal costs and benefits, not the average costs and benefits from an action. Think about your choices while driving to the Duxinglou every day. Are they made on the margin? (what will happen to me in the next few seconds / minutes… I’d better avoid that walking) Or are they made based on the averages? (what has the average cost of driving been and how will that be affected by an accident if it were to occur…. Crash!)
Opportunity cost considers only your best alternative
Question: You have $10,000 which you could invest the following ways: In stocks which would return $1,000; in a fixed deposit that would return $500; in your own start-up that would return $2,000. What’s the opportunity cost of investing in your start-up?
Could you share some examples?
Decisions are Made on the Margin(边际)
Marginal cost is the increase in total cost from one additional unit of an activity Average cost is total cost divided by(除以) the number of units (提示一下：边际就是微分后的那个~) Marginal benefit is the increase in total benefit from one additional unit of an activity Average benefit is total benefit divided by the number of units
Consider explicit(明显的) and implicit costs(隐成 本)
Examples:
Give up an hour of babysitting to go to the movies Give up watching TV to walk to town
Caution(注意): NOT the combined value of all possible activities
Economic Surplus(剩余)
Benefit of an action minus(减) its costs
Total Benefits Total Costs
Economic Surplus
Opportunity Cost
The value of what must be foregone(放弃) in order to undertake an activity
English PPT Show Economy
JenkinGsome examples?
2. 3. 4. 5.
$500 $2500 $2000 $1000 $11000
Decisions are Made on the Margin(边际)
Rational(理性的) economic choices consider the marginal costs and benefits, not the average costs and benefits from an action. Think about your choices while driving to the Duxinglou every day. Are they made on the margin? (what will happen to me in the next few seconds / minutes… I’d better avoid that walking) Or are they made based on the averages? (what has the average cost of driving been and how will that be affected by an accident if it were to occur…. Crash!)
Opportunity cost considers only your best alternative
Question: You have $10,000 which you could invest the following ways: In stocks which would return $1,000; in a fixed deposit that would return $500; in your own start-up that would return $2,000. What’s the opportunity cost of investing in your start-up?
Could you share some examples?
Decisions are Made on the Margin(边际)
Marginal cost is the increase in total cost from one additional unit of an activity Average cost is total cost divided by(除以) the number of units (提示一下：边际就是微分后的那个~) Marginal benefit is the increase in total benefit from one additional unit of an activity Average benefit is total benefit divided by the number of units
Consider explicit(明显的) and implicit costs(隐成 本)
Examples:
Give up an hour of babysitting to go to the movies Give up watching TV to walk to town
Caution(注意): NOT the combined value of all possible activities
Economic Surplus(剩余)
Benefit of an action minus(减) its costs
Total Benefits Total Costs
Economic Surplus
Opportunity Cost
The value of what must be foregone(放弃) in order to undertake an activity