管理经济学英文版
管理经济学(英文)Ch02 Demand, Supply, and Equilibrium Prices
© 2005 Prentice Hall, Inc.
2.6
Demand Curves
Figure 2.1
P1 P2 0
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© 2005 Prentice Hall, Inc.
2.15
Non-Price Factors Influencing Supply
State of technology Input prices
Prices of goods related in
production
Future expectations
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2.20
Changes (Increase) in Supply Figure 2.5
S1 S2 P1 0
A change in supply occurs when one or more of the factors held constant in defining a given supply curve change
A B
The demand curve shows the relationship between price of a good and quantity demanded, all else constant
Demand Q1 Q2 Quantity
2.7
More About Demand Curves
P1
DB DA 0 Q1 Q2 Q3 Q4 Quantity DM = DA + DB
管理经济学ManagerialEconomics
Q
例：谁支付了奢侈品税？
一些国家对那些只有富人才买得起的奢侈品征收消 费税(如中国对购买轿车征收名目繁多的各种税费), 理由 是调节社会分配。这一类型的税真的是由富人来承担吗？
买者支付的价格 无税收的价格 税 收
价格上限只有低于均衡 价格才有意义。
P0
价格上限通常会导致市
PC
场短缺。
Q
价格下限(Price floor)
价格下限也称为支持价格 P (support price)， 主要用于对某些在竞争中 pf 处于劣势的产业进行支持， p0
如农业、衰退中的产业
Q
2. 间接干预——征税与补贴
P
S2
S0
S1 p2
不会发生变动，只有需求量变动 ——如果商品自身价格以外的因素发生 变动，将
会导致需求发生变动
例：电力需求
P
P
p1
P0
p2
Da Da’
Qa1’
Qa1 Qa0 Q
Db’
Db
Qb0 Qb0’ Qb2
Q
第二节 供给
一. 供给量 在一定时期内、一定条件下，生产者愿
意并且能够向市场提供的商品或劳务的数量。
影响供给量的主要因素： 1. 商品自身的价格(P); 2. 成本(C); 3. 对未来的预期(E);
确定方案。决策意味着选择。必须围绕问题形成两个 以上的合理方案。
选择方案。在考虑各种制约因素的限制下，对每个方 案进行评估，选择其中最优方案。
方案实施。决策只有实施才能取得效果。
目标
行为准则
假设：生产者追求利润最大化
利润最大化与价值（财富）最大化
A 利润最大化是一种短期目标；
管理经济学ManagerialEconomics
3 ．边际收入：每增加销售一个单位商 品带来的总收益的增量。 MR=△TR/△Q=dTR/dQ
完全竞争市场：MR=P
四、 完全竞争条件下，企业的短期决策
P，C MC AC P0
AC0
P，C
AC0
MC
AC
MR Q0 Q
P0 Q0
MR Q
企业是否关门的决策：
P P1 P2 P3 P4 P5
C
五、企业和行业的短期供给曲线
Q
P 企业A
P
P
企业B
行业
QA
Q
QB
Q
QA+QB Q
六、 完全竞争市场企业的长期决策
LMC S0 SMC
S1
S2
P0 P1 P2 Q
LAC
P
= AC（短期和长期） = MC（短期和长期）
七、行业的长期供给曲线 1 成本不变的长期供给曲线 成本不变行业：行业内企业的平均成本不因 行业供应量的变化而变化。
P D2 D3 D4 Q D1
广告决策：
最优的广告费：增加1元广告费引起的毛利
增加数△Q（P-MC）等于1元广告费支出。 即： △Q（P-MC）=1 两侧乘以P/（P-MC），得到： P·△Q=P/（P-MC）， 令MR=MC，并带入第二 章式2—4，得： P·△Q= EP
六、垄断竞争企业的评价
九、完全竞争市场条件下企业行为分析 1 关于企业利润。在完全竞争条件下， 竞争力量叫把价格推向这样的水平，在 这一水平上，企业获得正常利润。
2 关于企业产量。在短期内，企业无力定价，
但能根据市场价格调整自己的产量。从长期看， 企业无法控制产量，只有在长期平均成本曲线 最低点生产，才能获得最大利润。 3 关于企业竞争策略。低成本竞争策略是企业 唯一的也是最佳的竞争策略。
麦圭根《管理经济学》英文版题库Chapter_3___Demand_Analysis
Multiple Choice1. Suppose we estimate that the demand elasticity for fine leather jackets is -.7 at their current prices. Then we know that:a. a 1% increase in price reduces quantity sold by .7%.b. n o one wants to buy leather jackets.c. d emand for leather jackets is elastic.d. a cut in the prices will increase total revenue.e. l eather jackets are luxury items.ANSWER: aPOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Price Elasticity of DemandKEYWORDS: KnowledgeDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM2. If demand were inelastic, then we should immediately:a. c ut the price.b. k eep the price where it is.c. g o to the Nobel Prize Committee to show we were the first to find an upward sloping demand curve.d. s top selling it since it is inelastic.e. r aise the price.ANSWER: ePOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Price Elasticity of DemandKEYWORDS: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM3. In this problem, demonstrate your knowledge of percentage rates of change of an entire demand function (HINT: %ΔQ = E P•%ΔP + E Y•%ΔY). You have found that the price elasticity of motor control devices at Allen-Bradley Corporation is -2, and that the income elasticity is a +1.5. You have been asked to predict sales of these devices for one year into the future. Economists from the Conference Board predict that income will be rising 3% over the next year, and AB’s management is planning to raise prices 2%. You expect that the number of AB motor control devices sold in one year will:a. f all .5%.b. n ot change.c. r ise 1%r.d. r ise 2%.e. r ise .5%.ANSWER: ePOINTS: 1DIFFICULTY: ChallengingQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: Reflective Thinking - BPROG: AnalysisTOPICS: Cross Elasticity of DemandKEYWORDS: BLOOMS: ApplicationDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM4. A linear demand for lake front cabins on a nearby lake is estimated to be: Q D = 900,000 - 2P. What is the point price elasticity for lake front cabins at a price of P = $300,000? [HINT: E p = (∂Q/∂P)(P/Q)]a. EP = -3.0b. EP = -2.0c. EP = -1.0d. EP = -0.5e. EP = 0ANSWER: bPOINTS: 1DIFFICULTY: ChallengingQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: Reflective Thinking - BPROG: AnalysisTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM5. Property taxes are the product of the tax rate (T) and the assessed value (V). The total property tax collected in your city (P) is: P = T•V. If the value of properties rise 4% and if Mayor and City Council reduces the property the tax rate by 2%, what happens to the total amount of property tax collected? [HINT: the percentage rate of change of a product is approximately the sum of the percentage rates of change.}a. I t rises 6 %.b. I t rises 4 %.c. I t rises 3 %.d. I t rises 2 %e. I f falls 2%.ANSWER: dPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: Reflective Thinking - BPROG: AnalysisTOPICS: Cross Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM6. Demand is given by Q D = 620 - 10·P and supply is given by Q S = 100 + 3·P. What is the price and quantity when the market is in equilibrium?a. T he price will be $30 and the quantity will be 132 units.b. T he price will be $11 and the quantity will be 122 units.c. T he price will be $40 and the quantity will be 220 units.d. T he price will be $35 and the quantity will be 137 unitse. T he price will be $10 and the quantity will be 420 units.ANSWER: cPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: BLOOM’S: ComprehensionKEYWORDS: BPROG: AnalyticDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM7. Which of the following would tend to make demand INELASTIC?a. t he amount of time analyzed is quite longb. t here are lots of substitutes availablec. t he product is highly durabled. t he proportion of the budget spent on the item is very smalle. n o one really wants the product at allANSWER: dPOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: KnowledgeDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM8. Which of the following best represents management's objective(s) in utilizing demand analysis?a. i t provides insights necessary for the effective manipulation of demandb. i t helps to measure the efficiency of the use of company resourcesc. i t aids in the forecasting of sales and revenuesd. a and be. a and cANSWER: ePOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Income Elasticity of DemandKEYWORDS: BLOOM’S: KnowledgeDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 7/23/2016 3:14 PM9. Identify the reasons why the quantity demanded of a product increases as the price of that product decreases.a. a s the price declines, the real income of the consumer increasesb. a s the price of product A declines, it makes it more attractive than product Bc. a s the price declines, the consumer will always demand more on each successive price reductiond. a and be. a and cANSWER: dPOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: Demand RelationshipsKEYWORDS: BLOOM’S: KnowledgeDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 7/23/2016 3:15 PM10. An increase in the quantity demanded could be caused by:a. a n increase in the price of substitute goodsb. a decrease in the price of complementary goodsc. a n increase in consumer income levelsd. a ll of the abovee. n one of the aboveANSWER: dPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: Demand RelationshipsKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM11. Goods having a negative calculated income elasticity are...a. s uperior goodsb. p roducers' goodsc. n ondurable goodsd. i nferior goodse. n one of the aboveANSWER: dPOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Income Elasticity of DemandKEYWORDS: BLOOM’S: KnowledgeDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 7/20/2016 12:21 PM12. If the cross price elasticity measured between items A and B is positive, the two products are referred to as:a. c omplementsb. s ubstitutesc. i nelastic as compared to each otherd. b oth b and ce. a, b, and cANSWER: bPOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: Cross Elasticity of DemandKEYWORDS: BLOOM’S: KnowledgeDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 7/23/2016 3:17 PM13. When demand is ____ a percentage change in ____ is exactly offset by the same percentage change in ____ demanded, the net result being a constant total consumer expenditure.a. e lastic; price; quantityb. u nit elastic; price; quantityc. i nelastic; quantity; priced. i nelastic; price; quantitye. n one of the aboveANSWER: bPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: Reflective Thinking - BPROG: AnalysisTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM14. Marginal revenue (MR) is ____ when total revenue is maximized.a. g reater than oneb. e qual to onec. l ess than zerod. e qual to zeroe. e qual to minus oneANSWER: dPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: Reflective Thinking - BPROG: AnalysisTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM15. The factor(s) which cause(s) a movement along the demand curve include(s):a. i ncrease in level of advertisingb. d ecrease in price of complementary goodsc. i ncrease in consumer disposable incomed. d ecrease in price of the good demandede. a ll of the aboveANSWER: dPOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: Demand RelationshipsKEYWORDS: BLOOM’S: KnowledgeDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM16. An increase in each of the following factors would normally provide a subsequent increase in quantity demanded, except:a. p rice of substitute goodsb. l evel of competitor advertisingc. c onsumer income leveld. c onsumer desires for goods and servicese. a and bANSWER: bPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 7/23/2016 3:19 PM17. Durable goods are:a. c onsumers' goodsb. r aw materials combined to produce consumer goodsc. t hose that must be replaced after each used. t hose that may be stored and repairede. n one of the aboveANSWER: dPOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: Demand RelationshipsKEYWORDS: BLOOM’S: KnowledgeDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 7/20/2016 12:52 PM18. The demand for durable goods tends to be more price elastic than the demand for non-durables.a. t rueb. f alseANSWER: aPOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: Demand RelationshipsKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 7/23/2016 3:27 PM19. A price elasticity (E D) of −1.50 indicates that for a ____ increase in price, quantity demanded will ____ by ____.a. o ne percent; increase; 1.50 unitsb. o ne unit; increase; 1.50 unitsc. o ne percent; decrease; 1.50 percentd. o ne unit; decrease; 1.50 percente. t en percent; increase; fifteen percentANSWER: cPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: KnowledgeDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM20. Those goods having a calculated income elasticity that is negative are called:a. p roducers' goodsb. d urable goodsc. i nferior goodsd. n ondurable goodse. n one of the aboveANSWER: cPOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Income Elasticity of DemandKEYWORDS: BLOOM’S: KnowledgeDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM21. An income elasticity (E y) of 2.0 indicates that for a ____ increase in income, ____ will increase by ____.a. o ne percent; quantity supplied; two unitsb. o ne unit; quantity supplied; two unitsc. o ne percent; quantity demanded; two percentd. o ne unit; quantity demanded; two unitse. t en percent; quantity supplied; two percentANSWER: cPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: Reflective Thinking - BPROG: AnalysisTOPICS: The Income Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM22. When demand elasticity is ____ in absolute value (or ____), an increase in price will result in a(n) ____ in total revenues.a. l ess than 1; elastic; increaseb. m ore than 1; inelastic; decreasec. l ess than 1; elastic; decreased. l ess than 1; inelastic; increasee. n one of the aboveANSWER: dPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM23. Empirical estimates of the price elasticity of demand [in Table 3.4] suggest that the demand for household consumption of alcoholic beverages is:a. h ighly price elasticb. p rice inelasticc. u nitarily elasticd. a n inferior goode. n one of the aboveANSWER: bPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM24. Auto dealers slash prices at the end of the model year in response to deficient demand/excess inventory but restaurants facing the same problem slash production becausea. a uto customers are less price sensitive than restaurant customersb. p rice elasticity of demand (in absolute values) is higher for auto than restaurant customersc. p rice elasticity of supply is lower in auto than in restaurantsd. r estaurant food spoils quickly and is much more perishablee. p rice elasticity of supply in autos is smaller than the absolute value of price elasticity of demand but thereverse is true for restaurantsANSWER: ePOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: Reflective Thinking - BPROG: AnalysisTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM25. Songwriters and composers press music companies to lower the price for music downloads becausea. d emand for on-line music is inelasticb. p rofits are maximized where price elasticity of demand is -1.0c. s ongwriter royalties are a percentage of sales revenued. p rofits and total revenue are maximized at different quantitiese. p rofits are maximized at the same prices as sales revenueANSWER: cPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: Reflective Thinking - BPROG: AnalysisTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM26. Which of the following demand factors are under the control of management?a. p rice of productb. a dvertisingc. p rice of competitors' productsd. c ustomer servicee. a ll except cANSWER: ePOINTS: 1DIFFICULTY: EasyQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: KnowledgeDATE CREATED: 7/20/2016 1:19 PMDATE MODIFIED: 7/20/2016 1:25 PM27. Factors affecting the price elasticity of demand include all of these EXCEPT:a. p ercentage of the consumer's budgetb. t he availability and closeness of substitutesc. p ositioning as income inferiord. t ime period of adjustmente. a ll of the above affect the price elasticity of demandANSWER: cPOINTS: 1DIFFICULTY: ModerateQUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPROG: AnalyticTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: ComprehensionDATE CREATED: 7/20/2016 1:19 PMDATE MODIFIED: 7/20/2016 1:30 PMEssay28. The manager of the Sell-Rite drug store accidentally mismarked a shipment of 20-pound bags of charcoal at $4.38 instead of the regular price of $5.18. At the end of a week, the store's inventory of 200 bags of charcoal was completely sold out. The store normally sells an average of 150 bags per week.(a)What is the store's arc elasticity of demand for charcoal?(b)Give an economic interpretation of the numerical value obtained in part (a)ANSWER:(a)Q1 = 150 P1 = $5.18 Q2 = 200 P2 = $4.38(b)A 1 percent increase in price will result in a 1.71 percent decrease in demand for charcoal.POINTS: 1 DIFFICULTY: Challenging QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPRPOG: AnalysisTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: AnalysisDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM29. The Future Flight Corporation manufactures a variety of Frisbees selling for $2.98 each. Sales have averaged 10,000 units per month during the last year. Recently Future Flight's closest competitor, Soaring Free Company, cut its prices on similar Frisbees from $3.49 to $2.59. Future Flight noticed that its sales declined to 8,000 units per month after the price cut.(a)What is the arc cross elasticity of demand between Future Flight's and Soaring Free's Frisbees?(b)If Future Flight knows the arc price elasticity of demand for its Frisbees is −2.2, what price would they have to charge in order to obtain the same level of sales as before Soaring Free's price cut?ANSWER:(a)Q A1 = 10,000 P B1 = $3.49 Q A2 = 8,000 P B2 = $2.59(b)E D = −2.2 Q1 = 8,000 P1= 2.98 Q2 = 10,000POINTS: 1DIFFICULTY: ChallengingQUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPRPOG: AnalysisTOPICS: Cross Elasticity of DemandKEYWORDS: BLOOM’S: AnalysisDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM30. The British Automobile Company is introducing a brand new model called the "London Special." Using the latest forecasting techniques, BAC economists have developed the following demand function for the "London Special":Q D = 1,200,000 − 40PWhat is the point price elasticity of demand at prices of (a) $8,000 and (b) $10,000?ANSWER:(a)(b)POINTS: 1DIFFICULTY: ChallengingQUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPRPOG: AnalysisTOPICS: The Price Elasticity of DemandKEYWORDS: BLOOM’S: AnalysisDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM31. Hanna Corporation markets a compact microwave oven. In 2010 they sold 23,000 units at $375 each. Per capita disposable income in 2010 was $6,750. Hanna economists have determined that the arc price elasticity for this microwave oven is −1.2.(a)In 2011 Hanna is planning to lower the price of the microwave oven to $325. Forecast sales volume for 2011 assuming that all other things remain equal.(b)However, in checking with government economists, Hanna finds that per capita disposable income is expected to rise to $7,000 in 2011. In the past the company has observed an arc income elasticity of +2.5 for microwave ovens. Forecast 2011 sales given that the price is reduces to $325 and that per capita disposable income increases to $7,000. Assume that the price and income effects are independent and additive.ANSWER:(a)Q1 = 23,000 P1 = $375 P2 = $325(b)Price effectIncome effectY2 = 7,000 Y1 = 6,750Net effect = Price effect + Income effect = .1714 + .0909 = .2623Using the initial quantity (Q1 = 23,000) as the base in computing the percentage change yields:Using the average quantity [(Q1 + Q2)/2] as the base in computing the percentage changeyields:POINTS: 1DIFFICULTY: ChallengingQUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: U nited States - BPRPOG: AnalysisTOPICS: The Combined Effect of Demand ElasticityKEYWORDS: BLOOM’S: AnalysisDATE CREATED: 6/21/2016 8:43 AMDATE MODIFIED: 6/21/2016 8:43 AM。
管理经济学大纲ManagerialEconomicsSyllabus
PEKING UNIVERSITYHSBC BUSINESS SCHOOLProfessor KONG YingCourse OutlineManagerial EconomicsCOURSE DESCRIPTIONManagerial Economics is the application of economic theory and methodology to managerial decision making problems within various organizational settings such as a firm or a government agency. The emphasis in this course will be on demand analysis and estimation, production and cost analysis under different market conditions, advanced topics in business strategy. Students taking this course are expected to have had some exposure to economics and be comfortable with basic algebra. Some knowledge of calculus would also be helpful.COURSE OBJECTIVEIn today's dynamic economic environment, effective managerial decision making requires timely and efficient use of information. The purpose of this course is to provide students with a basic understanding of the economic theory and analytical tools that can be used in decision making problems. Students who successfully complete the course will have a good understanding of economic concepts and tools that have direct managerial applications. The course will sharpen their analytical skills through integrating their knowledge of the economic theory with decision making techniques. Students will learn to use economic models to isolate the relevant elements of a managerial problem, identify their relationships, and formulate them into a managerial model to which decision making tools can be applied. Among the topics covered in the course are: price determination in alternative market structures, demand theory, production and cost functions, and business strategy. In addition, the course will provide a basic introduction to econometric analysis and its role in managerial decision making.TEXBOOKS AND CLASS NOTESThe main textbook is Managerial Economics and Business Strategy, 7th ed. by Michael Baye, McGraw HillClass notes (PPT) and other materials will be posted online for students download.COURSE EVELUATIONMidterm Exam: 30%Final Exam: 50% Consulting Projects: 20%SYLLABUSAll chapters listed below refer to the Baye textbook unless otherwise indicated. You are responsible for materials in the Baye text that correspond to the material covered in class. The Baye text should be viewed as a learning aide, NOT as an independent source of examinable material. However, doing questions end of each chapters will greatly help you to prepare exams.Week 1The Fundamentals of Managerial Economics Ch 1Market Forces: Demand and Supply Ch 2Week 2Quantitative Demand Analysis Ch 3The Theory of Individual Behavior Ch 4Week 3The Production Process and Costs Ch 5Week 4The Organization of the Firm Ch 6The Nature of Industry Ch 7Week 5Midterm ExamManaging in Competitive, Monopolistic,Monopolistically Competitive Market Ch 8Week 6Basic Oligopoly Models Ch 9Game Theory: Inside Oligopoly Ch 10Week 7Pricing Strategies for Firms with Market Power Ch 11Week 8The Economics of Information Ch 12Advanced Topics in Business Strategy Ch 13Week 9A Manager’s Guide to Government in the Marketplace Ch 14Project Presentation and Hand InFinal Exam (TBD)CONSULTING PROJECTSIn order to help students to build up the managerial economics analysis skill we provide 4 real world consulting projects in the course. Students are required to independently conduct 4 consulting reports regarding to the 4 projects. The exercises require you to apply some of the tools you learned in each chapter covered in the class to make a recommendation based on an actual business scenario. The topics of 4 consulting projects are,·Estimating Industry Demand for Fresh Market Carrots·Estimation and Analysis of Demand for Fast Food Meals·Production Decisions at Harding Silicon Enterprises, Inc.·Pricing and Production Decisions at PoolVac, Inc.Cheating, Plagiarism and Free RiderThe penalties for any form of cheating or plagiarism (whether in exams or project) are severe. Written work submitted must be your own. Any sources of information used in completing your work must be identified. Plagiarized written work will not be accepted and you should be aware that non acceptance of a submission might, in some cases, lead to failure in the course. Since the project is a team work, the final report should identify each student’s contribution. The significant uneven contribution in the work will lead to less mark for the student who made less contribution comparing to his/her team member.。
管理经济学(英文)Ch07 Market Structure Perfect Competition
by Paul Farnham
Chapter 7 Market Structure: Perfect Competition
© 2005 Prentice Hall, Inc.
7.1
Perfect Competition
Characterized by
• A large number of firms in the
© 2005 Prentice Hall, Inc.
7.5
Marginal Revenue
Price equals marginal revenue for
a perfectly competitive firm because the firm does not have to lower the price to sell more units of output The profit-maximizing level of output occurs where marginal revenue equals marginal cost because any other level of output will result in smaller profit
The supply curve shows the
output produced by all perfectly competitive firms in the industry at different prices
The curve will be flatter than the
7.7
The Shutdown Point
The shutdown point for perfectly
麦圭根《管理经济学》英文版PPT-McGuigan-14e-Chapter01- REV COMPA
1
PART I – INTRODUCTION
© 2017 Cengage Learning® May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
assumptions (sensitivity analysis) • Implement the decision
© 2017 Cengage Learning® May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for clar 1 – Introductions and Goals of the Firm
管理经济学ManagerialEconomics-精品
➢ 个体需求（individual demand）
价格 2 4 9
20
需求
需求曲线
(Demand Curve)
2.1 需求(Demand)
➢市场需求（market demand）
在同一价格水平下，所有个体需求量的横向叠加。
➢ 需求规律（Law of demand）
在影响需求的其他因素既定的条件下，整个市场对商 品的需求量与其价格之间存在着反向的依存关系。
研室研究助理 2019-2019 德国柏林洪堡大学经济系，银行、证券及
保险研究所 联合培养奖学金生 2019年7月至今 同济大学经济与管理学院经济与金
融系 讲师，副教授 主要研究方向：金融风险管理，巨灾证券化，
企业风险管理
内容(Content)
1. 经济学及其研究方法(Introduction) 2. 需求、供给与均衡价格(Demand, Supply and Equilibrium) 3. 厂商理论——生产理论 (Theory of Firm – Production Theory ) 4. 厂商理论——成本理论(Theory of the Firm – Cost Theory) 5. 市场及厂商均衡(Market and Firm Equilibrium) 6. 厂商理论——从产权的角度（from aspect of property right） 7. 国际贸易——比较优势原理 (International Trade – Comparative
quantity supplied)
供给量的变化是指当其他因素不变的情况下，随着价格变化 ，供给量沿着需求曲线的变化
供给的变动是指当除价格以外的其他因素变化时，供给曲线 发生移动，例如原材料价格下降
麦圭根《管理经济学》英文版PPT-McGuigan-14e-Chapter04
9
Ch 4 – A Simple Linear Regression Model
• Here, analysis is limited to one independent and one dependent variable, where the form of the relationship between the two variables is linear:
6ቤተ መጻሕፍቲ ባይዱ
Ch 4 – Statistical Estimation of the Demand Function
Specification of the Model (3 of 5)
• Multiplicative Exponential Model • In the Sherwin-Williams example, this model would be:
Managerial Economics
Applications, Strategies and Tactics, 14e
James R. McGuigan R. Charles Moyer Frederick H. deB. Harris
© 2017 Cengage Learning® May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
管理经济学论文 英文
管理经济学论文英文Title: The Impact of Pricing Strategies on Consumer Behavior Abstract:As markets become more competitive and consumers become more price-conscious, the importance of pricing strategies in influencing consumer behavior has never been more critical. This paper examines how various pricing strategies, such as dynamic pricing, price bundling, and promotional pricing impact consumer behavior. It also explores the role of psychological pricing tactics in shaping consumer perceptions and purchase decisions. Using economic theory and empirical evidence, we analyze the effects of pricing strategies on consumer demand, price sensitivity, brand loyalty, and overall market competitiveness. The findings of this research provide valuable insights for businesses aiming to optimize their pricing strategies to drive sales and enhance profitability.Introduction:Understanding consumer behavior is essential for businesses seeking to gain a competitive edge in the marketplace. Pricing strategies play a crucial role in shaping consumer perceptions and purchase decisions. By setting the right price, businesses can influence consumer demand, increase sales, and maximize profits. In this paper, we will explore the impact of various pricing strategies on consumer behavior and discuss their implications for businesses.Literature Review:Previous research has shown that pricing strategies, such as dynamic pricing, price bundling, and promotional pricing, can have a significant impact on consumer behavior. Dynamic pricing, for example, involves adjusting prices based on demand fluctuations and market conditions. Studies have found that dynamic pricing can increase profits by exploiting consumer willingness to pay. Price bundling, on the other hand, involves offering multiple products or services together at a discounted rate. Research has shown that price bundling can increase sales and enhance customer loyalty. Promotional pricing tactics, such as discounts and coupons, can also influence consumer behavior by creating a sense of urgency and incentivizing immediate purchases.Methodology:To examine the impact of pricing strategies on consumer behavior, we will conduct a literature review of existing studies and analyze empirical data on pricing practices and consumer preferences. We will also utilize economic models and theories to assess the effects of pricing strategies on consumer demand, price sensitivity, and brand loyalty. By combining qualitative and quantitative methods, we aim to provide a comprehensive analysis of the relationship between pricing strategies and consumer behavior.Results:Our analysis shows that pricing strategies have a significant impact on consumer behavior. Dynamic pricing can increase profits bytargeting price-sensitive consumers and capturing surplus value. Price bundling can enhance customer loyalty and encourage cross-selling. Promotional pricing tactics can stimulate demand and increase sales volume. Psychological pricing techniques, such as using odd pricing or reference prices, can also influence consumer perceptions and purchase decisions. Overall, businesses that effectively utilize pricing strategies can gain a competitive advantage and drive profitability.Conclusion:Pricing strategies play a crucial role in shaping consumer behavior and influencing purchase decisions. By understanding the effectsof pricing strategies on consumer preferences and market dynamics, businesses can optimize their pricing strategies to drive sales and enhance profitability. This paper provides valuable insights for businesses seeking to improve their pricing practices and gain a competitive edge in today's competitive market environment.。
管理经济学,英文版1
=
T otalE co no m icC o st
Thetotalopportunitycostsof bothkindsofresources
1-5
Managerial Economics
Types of Implicit Costs
• Opportunity cost of cash provided by owners
• Objective is to maximize economic profit
1-7
Managerial Economics
Maximizing the Value of a Firm
• Value of a firm
• Price for which it can be sold • Equal to net present value of expected
1-17
Managerial Economics
Oligopoly
• Few firms produce all or most of market output
• Profits are interdependent
• Actions by any one firm will affect sales & profits of the other firms
• Large number of relatively small firms
• Undifferentiated product • No barriers to entry
1-15
Managerial Economics
Monopoly
• Single firm • Produces product with no close
管理经济学英文课件 (1)
+ C 1 Q + C 2 Q2 Q 20 15 19 Q2 400 225 361
R-square = .91 Adj R-square = .90 N = 35
Slide 3
PROBLEMS: 1. Write the cost regression as an equation. 2. Find the AC and MC functions.
• Ln TC = .03 + .35 Ln W + .65 Ln R + 1.21 Ln Q (.01) (.24) (.33) (.08)
R2 = .563
• parentheses contain standard errors
Slide 11
Discussion
• Cement plants are Constant Returns if the coefficient on Ln Q were 1 • 1.21 is more than 1, which appears to be Decreasing Returns to Scale. • TEST: t = (1.21 -1 ) /.08 = 2.65 • Small Sample, d.f. = 13 - 3 -1 = 9 • critical t = 2.262 • We reject constant returns to scale.
Slide 5
Estimating LR Cost Relationships
• Use a CROSS SECTION of firms
» SR costs usually uses a time series AC
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– Change in total cost (TC) caused by an incremental change in the level of the activity
3-5
Marginal Benefit & Marginal Cost
MB Change in total benefit TB
Optimization
• An optimization problem involves the specification of three things:
– Objective function to be maximized or minimized – Activities or choice variables that determine the
– Activity should be increased to reach highest net benefit
• If marginal cost > marginal benefit
– Activity should be decreased to reach highest net benefit
value of the objective function – Any constraints that may restrict the values of the
choice variables
3-1
Choice Variables
• Choice variables determine the value of the objective function
Level of activity
Panel A – Total benefit and total cost curves
G•
TB
A 1,000
(Figure
Net benefit (dollars)
1,225 1,000
600
0 Panel B – Net benefit curve
M
••
c’’ 200 350 = A*
• Optimal level of activity
– When no further increases in net benefit are possible – Occurs when MB = MC
4,000 3,000
TC
100 F
• 320 •D
100
•D’
820
G•
TB
2,000
• 520
100
B
100
• 640
1,000
C
•B’
520
•C’
100 340
100
A
0
200 350 = A*
600
800
1,000
Level of activity
Panel A – Measuring slopes along TB and TC
3-2
Net Benefit
• Net Benefit (NB)
– Difference between total benefit (TB) and total cost (TC) for the activity
– NB = TB – TC
• Optimal level of the activity (A*) is the level that maximizes net benefit
3-3
Optimal Level of Activity
3.1)
TC
Total benefit and total cost (dollars)
4,000
3,000 2,310
2,000 1,085
1,000
D
•
F•
•
B
D’
•
C•
NB* = $1,225
• B’
•
C’
0
200 350 = A*
600 700
Marginal benefit and marginal cost (dollars)
MC (= slope of TC)
8
c (200, $6.40)
•
d’ (600, $8.20)
6 5.20
• •b
4
•
c’ (200, $3.40)
d (600, $3.20)
•
2
MB (= slope of TB)
0
200 350 = A*
600
•g
800
1,000
A
Panel B – Marginals give slopes of totals
Level of activity
3-8
Using Marginal Analysis to Find Optimal Activity Levels
• If marginal benefit > marginal cost
• Continuous variables
– Can choose from uninterrupted span of variables
• Discrete variables
– Must choose from a span of variables that is interrupted by gaps
•d’’ •f’’
600
Level of activity
NB
1,000
A
3-4
Marginal Benefit & Marginal Cost
• Marginal benefit (MB)
– Change in total benefit (TB) caused by an incremental change in the level of the activity
Change in activity
A
MC Change in total cost TC Change in activity A
3-6
Relating Marginals to Totals
• Marginal variables measure rates of change in corresponding total variables
– Marginal benefit & marginal cost are also slopes of total benefit & total cost curves, respectively
3-7
Relating Marginals to Totals
(Figure 3.2)
Total benefit and total cost (dபைடு நூலகம்llars)