曼昆微观经济学第五版 第十六章 课文PPT英文版
微观经济学-曼昆英文版本
A Firm’s Long-Run Decision to Exit
• Cost of exiting the market: revenue loss = TR
• Benefit of exiting the market: cost savings = TC (zero FC in the long run) • So, firm exits if TR < TC
Because of 1 & 2, each buyer and seller is a
“price taker” – takes the price as given.
The Revenue of a Competitive Firm
• Total revenue (TR)
• Average revenue (AR)
Qa Q 1 Qb
Q
MC and the Firm’s Supply Decision
If price rises to P2, then the profitmaximizing quantity rises to Q2.
Costs MC P2 MR2 MR
The MC curve determines the firm’s Q at any price. P1 Hence,
Introduction: A Scenario
• Three years after graduating, you run your own business. • You must decide how much to produce, what price to charge, how many workers to hire, etc. • What factors should affect these decisions?
微观经济学曼昆第五版课件市场效率
How Price Affects Producer
Surplus
Price
原来生产者额外的 生产者剩余
Supply
P2 D
E F
P1
B
原先的生
C
产者剩余
新生产者的生产者剩余
A
0
Q1
Q2
Quantity
经济福利和总剩余 Economic WellBeing and Total
Surplus
总剩余 = 消费者剩余 + 生产者剩余
用供给曲线衡量生产者剩余
Price of House
Painting
$900 800
600 500
Price = $800
总生产者剩余 ($500)
Supply
王五的生产者剩余 ($200) 赵六的生产者剩余来自($300)01
2
3
4
Quantity of
Houses Painted
价格如何影响生产者剩余
这种完全放开的政策就是自由放任 政府不必对市场结果加以干预
政府干预的评价
政府干预通常具有效率损失;如：
价格上限 价格下限
效率损失的大小用经济剩余来表示
市场失灵
市场失灵：市场结果无效率;即不能使总 剩余最大化 市场势力：不完全竞争 外部性
总消费者剩余 ($40)
Demand
0 1234
Quantity of Albums
用需求曲线衡量消费者剩余
•需求曲线以下和价格以上的面积衡 量市场的消费者剩余 The area below the demand curve and above the price measures the consumer surplus in the market
微观经济学英文课件
Edited by Yong, E.L.
Continuously,
Microeconomics is also used for evaluating broad question in regards to government policy (although this is more to macroeconomics).
Edited by Yong, E.L.
Continuously,
If the firm produces 6 units of apple and 12 units of apple pie wants to increase the production of apple pie by one unit to the 13th unit. It has to forgo 2 units of apple so that resources can be shifted to produce the additional apple pie; Opportunity Cost is thus 2.
Edited by Yong, E.L.
Continuously,
If the firm produces 10 units of apple and 6 units of apple pie wants to increase the production of apple pie by one unit to the 7th unit. It has to forgo 1 unit of apple so that resources can be shifted to produce the additional apple pie; Opportunity Cost is thus 1.
曼昆微观经济学英文版
to accompany
Principles of Economics, Third Edition
N. Gregory Mankiw
Prepared by Mark P. Karscig, Central Missouri State University.
Copyright © 2004 South-Western/Thomson Learning
TEN PRINCIPLES OF ECONOMICS
• How people interact with each other.
• Trade can make everyone better off. • Markets are usually a good way to organize
Principle #1: People Face Tradeoffs.
To get one thing, we usually have to give up another thing.
• Guns v. butter • Food v. clothing • Leisure time v. work • Efficiency v. equity
produced? • What resources should be used in production? • At what price should the goods be sold?
Copyright © 2004 South-Western/Thomson Learning
TEN PRINCIPLES OF ECONOMICS
TEN PRINCIPLES OF ECONOMICS
微观经济学英文版PPT课件
10
2.2 the definition of microeconomics
The starting point of economics searching The definition of Microeconomics People how to make decision Why need to bargain Why need to build market economics
Economics is a study, learning selection of scarce resources with different uses; The goal is effective allocation of scarce resources to produce goods and services, and in the present or future, let them reasonable allocated to social members or group for consumption.
8
Production possibilities curve
PPC is a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.
16oligopoly 曼昆 微观经济学课件
Copyright © 2004 South-Western
The Equilibrium for an Oligopoly
• When firms in an oligopoly individually choose production to maximize profit, they produce quantity of output greater than the level produced by monopoly and less than the level produced by competition.
Copyright © 2004 South-Western
BETWEEN MONOPOLY AND PERFECT COMPETITION
• Imperfect competition includes industries in which firms have competitors but do not face so much competition that they are price takers.
Number of Firms?
Many firms Type of Products?
One firm
Few firms
Differentiated products
Identical products
Monopoly (Chapter 15)
Oligopoly (Chapter 16)
Monopolistic Competition (Chapter 17) • Novels • Movies
Copyright © 2004 South-Western
A Duopoly Example
经济学原理第5版16-presentation
The inefficiencies of monopolistic competition are
subtle and hard to measure. No easy way for policymakers to improve the market outcome.
MONOPOLISTIC COMPETITION
downward-sloping part of its ATC curve, produces less than the cost-minimizing output.
Under perfect competition, firms produce the
quantity that minimizes ATC.
MONOPOLISTIC COMPETITION
8
A Monopolistic Competitor in the Long Run
Entry and exit occurs until P = ATC and profit = zero.
Price
MC ATC
Notice that the P = ATC firm charges a markup of price markup over marginal cost and does not MC produce at minimum ATC.
MONOPOLISTIC COMPETITION
D MR Q Quantity
9
Why Monopolistic Competition Is Less Efficient than Perfect Competition
1. Excess capacity
The monopolistic competitor operates on the
5elasticity 曼昆 微观经济学课件
0
50
100
Quantity
2. . . . leads to a 67% decrease in quantity demanded.
Figure 1 The Price Elasticity of Demand
(e) Perfectly Elastic Demand: Elasticity Equals Infinity
Copyright © 2004 South-Western/Thomson Learning
Computing the Price Elasticity of Demand
(100 - 50)
Price $5
ED
(100 50)/2 (4.00 - 5.00) (4.00 5.00)/2
• Example: If the price of an ice cream cone increases from $2.00 to $2.20 and the amount you buy falls from 10 to 8 cones, then your elasticity of demand would be calculated as:
P e rc e n ta g e c h a n g e in q u a n tity d e m a n d e d P e rc e n ta g e c h a n g e in p ric e
P ric e e la s tic ity o f d e m a n d =
Copyright © 2004 South-Western/Thomson Learning
The Midpoint Method: A Better Way to Calculate Percentage Changes and Elasticities • Example: If the price of an ice cream cone increases from $2.00 to $2.20 and the amount you buy falls from 10 to 8 cones, then your elasticity of demand, using the midpoint formula, would be calculated as:
曼昆经济学原理第5版微观经济学精品PPT课件
▪ 在许多情况下，价格引导自利的家庭与企业做
出使社会经济福利最大化的决策
人们如何相互交易
原理 7: 政府有时可以改善市场结果
▪ 政府的重要作用: 保护产权 (通过警察，法庭) ▪ 如果人们的财产存在很大的被侵犯的风险，那么他
们便不愿意工作，生产，投资或者购买物品
人们如何相互交易
间学习
▪ 想要更多的收入需要工作更长时间，这就使得休
息时间减少
▪ 保护环境意味着生产消费物品的资源减少
人们如何做出决策
原理 1: 人们面临权衡取舍
▪ 社会面临一种重要的权衡取舍:
效率 vs. 平等
▪ 效率: 社会能从其稀缺资源中得到的最大利益 ▪ 平等: 经济成果在社会成员中平均分配 ▪ 权衡取舍：为使社会更加平等, 需要在富人与穷人
在下面的情形中，你应该把变速器修好吗？并解 释
A. 如果变速器正常，汽车价值是$6500 。如果不 正常，则是$5700
B. 如果变速器正常，汽车价值是$6000 。如果不 正常，则是$5500
11
主动学习 1
参考答案
修理变速器的成本= $600
A. 如果变速器正常，汽车价值是$6500 。如果不正 常，则是$5700
▪ 人们决定购买什么, 工作多长时间，储蓄多少，
消费多少
▪ 企业决定生产多少，雇佣多少工人 ▪ 社会决定如何在国防，消费物品，环境保护和其
他需求之间分配资源
人们如何 做出决策
人们如何做出决策
原理 1: 人们面临权衡取舍
所有决策都面临着权衡取舍。比如:
▪ 参加期中考试前一天晚上的聚会意味着更少的时
人们如何相互交易
原理 6:市场通常是组织经济活动的一种好方法
曼昆《微观经济学》答案(英文版)_Chapter_1~5[1]
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Chapter 1Problems and Applications1. a. A family deciding whether to buy a new car faces a tradeoff between the cost of thecar and other things they might want to buy. For example, buying the car mightmean they must give up going on vacation for the next two years. So the real costof the car is the family's opportunity cost in terms of what they must give up.b. For a member of Congress deciding whether to increase spending on national parks,the tradeoff is between parks and other spending items or tax cuts. If more moneygoes into the park system, that may mean less spending on national defense or on thepolice force. Or, instead of spending more money on the park system, taxes couldbe reduced.c. When a company president decides whether to open a new factory, the decision isbased on whether the new factory will increase the firm's profits compared to otheralternatives. For example, the company could upgrade existing equipment orexpand existing factories. The bottom line is: Which method of expandingproduction will increase profit the most?d. In deciding how much to prepare for class, a professor faces a tradeoff between thevalue of improving the quality of the lecture compared to other things she could dowith her time, such as working on additional research.2. When the benefits of something are psychological, such as going on a vacation, it isn't easy tocompare benefits to costs to determine if it's worth doing. But there are two ways to think about the benefits. One is to compare the vacation with what you would do in its place. If you didn't go on vacation, would you buy something like a new set of golf clubs? Then you can decide if you'd rather have the new clubs or the vacation. A second way is to think about how much work you had to do to earn the money to pay for the vacation; then you can decide if the psychological benefits of the vacation were worth the psychological cost of working.3. If you are thinking of going skiing instead of working at your part-time job, the cost of skiingincludes its monetary and time costs, plus the opportunity cost of the wages you're giving up by not working. If the choice is between skiing and going to the library to study, then the cost of skiing is its monetary and time costs plus the cost to you of getting a lower grade in your course.4. If you spend $100 now instead of investing it for a year and earning 5 percent interest, youare giving up the opportunity to spend $105 a year from now. The idea that money has a time value is the basis for the field of finance, the subfield of economics that has to do with prices of financial instruments like stocks and bonds.5. The fact that you've already sunk $5 million isn't relevant to your decision anymore, sincethat money is gone. What matters now is the chance to earn profits at the margin. If you spend another $1 million and can generate sales of $3 million, you'll earn $2 million in marginal profit, so you should do so. You are right to think that the project has lost a total of $3 million ($6 million in costs and only $3 million in revenue) and you shouldn't have started it. That's true, but if you don't spend the additional $1 million, you won't have any sales and your losses will be $5 million. So what matters is not the total profit, but the profit you can earn at the margin. In fact, you'd pay up to $3 million to complete development; any more than that, and you won't be increasing profit at the margin.6. Harry suggests looking at whether productivity would rise or fall. Productivity is certainlyimportant, since the more productive workers are, the lower the cost per gallon of potion.Harry wants to look at average cost. But both Harry and Ron are missing the other side of the equation−revenue. A firm wants to maximize its profits, so it needs to examine both costs and revenues. Thus, Hermione is right−it’s best to examine whether the extra revenue would exceed the extra costs. In addition, Hermione is the only one who’s thinking at the margin.7. a. Since a person gets fewer after-tax Social Security benefits the greater is his or herincome, there's an incentive not to save for retirement. If you save a lot, yourincome will be higher, and you won't get as much after-tax Social Security income assomeone who didn't save as much. The unintended consequence of the taxation ofSocial Security benefits is to reduce saving; yet the Social Security system arosebecause of worries that people wouldn’t save enough for retirement.b. For the same reason, you'll tend not to work (or not work as much) after age 65.The more you work, the lower your after-tax Social Security benefits will be. Thusthe taxation of Social Security benefits discourages work effort after age 65.8. a. When welfare recipients who are able to work have their benefits cut off after twoyears, they have greater incentive to find jobs than if their benefits were to lastforever.b. The loss of benefits means that someone who can't find a job will get no income atall, so the distribution of income will become less equal. But the economy will bemore efficient, since welfare recipients have a greater incentive to find jobs. Thusthe change in the law is one that increases efficiency but reduces equity.9. By specializing in each task, you and your roommate can finish the chores more quickly. Ifyou divided each task equally, it would take you more time to cook than it would take your roommate, and it would take him more time to clean than it would take you. By specializing, you reduce the total time spent on chores.Similarly, countries can specialize and trade, making both better off. For example, suppose it takes Spanish workers less time to make clothes than French workers, and French workers can make wine more efficiently than Spanish workers. Then Spain and France can both benefit if Spanish workers produce all the clothes and French workers produce all the wine, and they exchange some wine for some clothes.10. a. Being a central planner is tough! To produce the right number of CDs by the rightartists and deliver them to the right people requires an enormous amount ofinformation. You need to know about production techniques and costs in the CDindustry. You need to know each person's musical tastes and which artists theywant to hear. If you make the wrong decisions, you'll be producing too many CDsby artists that people don't want to hear, and not enough by others.b. Your decisions about how many CDs to produce carry over to other decisions. Youhave to make the right number of CD players for people to use. If you make toomany CDs and not enough cassette tapes, people with cassette players will be stuckwith CDs they can't play. The probability of making mistakes is very high. Youwill also be faced with tough choices about the music industry compared to otherparts of the economy. If you produce more sports equipment, you'll have fewerresources for making CDs. So all decisions about the economy influence yourdecisions about CD production.11. a. Efficiency: The market failure comes from the monopoly by the cable TV firm.b. Equityc. Efficiency: An externality arises because secondhand smoke harms nonsmokers.d. Efficiency: The market failure occurs because of Standard Oil's monopoly power.e. Equityf. Efficiency: There's an externality because of accidents caused by drunk drivers.12. a. If everyone were guaranteed the best health care possible, much more of our nation'soutput would be devoted to medical care than is now the case. Would that beefficient? If you think that currently doctors form a monopoly and restrict healthcare to keep their incomes high, you might think efficiency would increase byproviding more health care. But more likely, if the government mandated increasedspending on health care, the economy would be less efficient because it would givepeople more health care than they would choose to pay for. From the point of viewof equity, if poor people are less likely to have adequate health care, providing morehealth care would represent an improvement. Each person would have a more evenslice of the economic pie, though the pie would consist of more health care and lessof other goods.b. When workers are laid off, equity considerations argue for the unemploymentbenefits system to provide them with some income until they can find new jobs.After all, no one plans to be laid off, so unemployment benefits are a form ofinsurance. But there’s an efficiency problem why work if you can get income fordoing nothing? The economy isn’t o perating efficiently if people remainunemployed for a long time, and unemployment benefits encourage unemployment.Thus, there’s a tradeoff between equity and efficiency. The more generous areunemployment benefits, the less income is lost by an unemployed person, but themore that person is encouraged to remain unemployed. So greater equity reducesefficiency.13. Since average income in the United States has roughly doubled every 35 years, we are likelyto have a better standard of living than our parents, and a much better standard of living than our grandparents. This is mainly the result of increased productivity, so that an hour of work produces more goods and services than it used to. Thus incomes have continuously risen over time, as has the standard of living.14. If Americans save more and it leads to more spending on factories, there will be an increasein production and productivity, since the same number of workers will have more equipment to work with. The benefits from higher productivity will go to both the workers, who will get paid more since they're producing more, and the factory owners, who will get a return on their investments. There's no such thing as a free lunch, though, because when people save more, they're giving up spending. They get higher incomes at the cost of buying fewer goods.15. a. If people have more money, they're probably going to spend more on goods andservices.b. If prices are sticky, and people spend more on goods and services, then output mayincrease, as producers increase output to meet the higher demand rather than raisingprices.c. If prices can adjust, then people's higher spending will be matched with increasedprices, and output won't rise.16. To make an intelligent decision about whether to reduce inflation, a policymaker would needto know what causes inflation and unemployment, as well as what determines the tradeoff between them. Because prices are sticky, an attempt to reduce inflation will lead to higher unemployment. A policymaker thus faces a tradeoff between the benefits of lower inflation compared to the cost of higher unemployment.Chapter 2Problems and Applications1. Many answers are possible.2. a. Steel is a fairly uniform commodity, though some firms produce steel of inferiorquality.b. Novels are each unique, so they are quite distinguishable.c. Wheat produced by one farmer is completely indistinguishable from wheat producedby another.d. Fast food is more distinguishable than steel or wheat, but certainly not as much asnovels.3. See Figure 2-5; the four transactions are shown.Figure 2-54. a. Figure 2-6 shows a production possibilities frontier between guns and butter. It isbowed out because when most of the economy’s resources are being used to pr oducebutter, the frontier is steep and when most of the economy’s resources are being usedto produce guns, the frontier is very flat. When the economy is producing a lot ofguns, workers and machines best suited to making butter are being used to makeguns, so each unit of guns given up yields a large increase in the production of butter;thus the production possibilities frontier is flat. When the economy is producing alot of butter, workers and machines best suited to making guns are being used tomake butter, so each unit of guns given up yields a small increase in the productionof butter; thus the production possibilities frontier is steep.b. Point A is impossible for the economy to achieve; it is outside the productionpossibilities frontier. Point B is feasible but inefficient because it’s inside theproduction possibilities frontier.Figure 2-6c. The Hawks might choose a point like H, with many guns and not much butter. TheDoves might choose a point like D, with a lot of butter and few guns.d. If both Hawks and Doves reduced their desired quantity of guns by the same amount,the Hawks would get a bigger peace dividend because the production possibilitiesfrontier is much steeper at point H than at point D. As a result, the reduction of agiven number of guns, starting at point H, leads to a much larger increase in thequantity of butter produced than when starting at point D.5. See Figure 2-7. The shape and position of the frontier depend on how costly it is to maintaina clean environment the productivity of the environmental industry. Gains inenvironmental productivity, such as the development of a no-emission auto engine, lead to shifts of the production-possibilities frontier, like the shift from PPF1 to PPF2 shown in the figure.Figure 2-76. a. A family’s decision about how much income to save is microeconomics.b. The effect of government regulations on auto emissions is microeconomics.c. The impact of higher saving on economic growth is macroeconomics.d. A f irm’s decision about how many workers to hire is microeconomics.e. The relationship between the inflation rate and changes in the quantity of money ismacroeconomics.7. a. The statement that society faces a short-run tradeoff between inflation andunemployment is a positive statement. It deals with how the economy is, not how itshould be. Since economists have examined data and found that there’s a short-runnegative relationship between inflation and unemployment, the statement is a fact,thus it’s a positive statement.b. The statement that a reduction in the rate of growth of money will reduce the rate ofinflation is a positive statement. Economists have found that money growth andinflation are very closely related. The statement thus tells how the world is, and soit is a positive statement.c. The statement that the Federal Reserve should reduce the rate of growth of money isa normative statement. It states an opinion about something that should be done,not how the world is.d. The statement that society ought to require welfare recipients to look for jobs is anormative statement. It doesn’t state a fact about how the world is. Instead, it is astatement of how the world should be and is thus a normative statement.e. The statement that lower tax rates encourage more work and more saving is apositive statement. Economists have studied the relationship between tax rates andwork, as well as the relationship between tax rates and saving. They’ve found anegative relationship in both cases. So the statement reflects how the world is, andis thus a positive statement.8. Two of the statements in Table 2-2 are clearly normative. They are: “5. If the federalbudget is to be balanced, it should be done over the business cycle rather th an yearly” and “9.The government should restructure the welfare system along the lines of a ‘negative income tax.’” Both are suggestions of changes that should be made, rather than statements of fact, so they are clearly normative statements.The other statements in the table are positive. All the statements concern how the world is, not how the world should be. Note that in all cases, even though they’re statements of fact, fewer than 100 percent of economists agree with them. You could say that positive statements are statements of fact about how the world is, but not everyone agrees about what the facts are.9. As the president, you’d be interested in both the positive and normative views of economists,but you’d probably be most interested in their positive views. Economists are on your staff to provide their expertise about how the economy works. They know many facts about the economy and the interaction of different sectors. So you’d be most likely to call on them about questions of fact posit ive analysis. Since you’re the president, you’re the one who has the make the normative statements as to what should be done, with an eye to the political consequences. The normative statements made by economists represent their views, not necessarily ei ther your’s or the electorate’s.10. There are many possible answers.11. As of this writing, the chairman of the Federal Reserve is Alan Greenspan, the chair of theCouncil of Economic Advisers is Martin N. Baily, and the secretary of the treasury is Larry Summers.12. There are many possible answers.13. As time goes on, you might expect economists to disagree less about public policy becausethey’ll have opportunities to observe different policies that are put into place. As new policies are tried, their results will become known, and they can be evaluated better. It’s likely that the disagreement about them will be reduced after they’ve been tried in practice.For example, many economists thought that wage and price controls would be a good idea for keeping inflation under control, while others thought it was a bad idea. But when the controls were tried in the early 1970s, the results were disastrous. The controls interfered with the invisible hand of the marketplace and shortages developed in many products. As a result, most economists are now convinced that wage and price controls are a bad idea for controlling inflation.But it’s unlikely that the differences between economists will ever be completely eliminated.Economists differ on too many aspects of how the world works. Plus, even as some policies get tried out and are either accepted or rejected, creative economists keep coming up with new ideas.Chapter 3Problems and Applications1. In the text example of the farmer and the rancher, the farmer’s opportunity cost of producingone pound of meat is two pounds of potatoes because for every 20 hours of work, he can produce one pound of meat or two pounds of potatoes. With limited time at his disposal, producing a pound of meat means he gives up the opportunity to produce two pounds of potatoes. Similarly, the rancher’s opportunity cost of producing one pound of meat is 1/8 pound of potatoes because for every hour of work, she can produce one pound of meat or 1/8 pound of potatoes. With limited time at her disposal, producing a pound of meat means she gives up the opportunity to produce 1/8 pound of potatoes.2. a. See Figure 3-2. If Maria spends all five hours studying economics, she can read100 pages, so that is the vertical intercept of the production possibilities frontier. Ifshe spends all five hours studying sociology, she can read 250 pages, so that is thehorizontal intercept. The time costs are constant, so the production possibilitiesfrontier is a straight line.Figure 3-2b. It takes Maria two hours to read 100 pages of sociology. In that time, she couldread 40 pages of economics. So the opportunity cost of 100 pages of sociology is40 pages of economics.3. a.Workers needed to make:One Car One Ton of GrainU.S. 1/4 1/10Japan 1/4 1/5b. See Figure 3-3. With 100 million workers and four cars per worker, if eithereconomy were devoted completely to cars, it could make 400 million cars. Since aU.S. worker can produce 10 tons of grain, if the U.S. produced only grain it wouldproduce 1,000 million tons. Since a Japanese worker can produce 5 tons of grain, ifJapan produced only grain it would produce 500 million tons. These are theintercepts of the production possibilities frontiers shown in the figure. Note thatsince the tradeoff between cars and grain is constant, the production possibilitiesfrontier is a straight line.Figure 3-3c. Since a U.S. worker produces either 4 cars or 10 tons of grain, the opportunity cost of1 car is 2½ tons of grain, which is 10 divided by 4. Since a Japanese workerproduces either 4 cars or 5 tons of grain, the opportunity cost of 1 car is1 1/4 tons of grain, which is 5 divided by 4. Similarly, the U.S. opportunity cost of1 ton of grain is 2/5 cars (4 divided by 10) and the Japanese opportunity cost of 1 tonof grain is 4/5 cars (4 divided by 5). This gives the following table:Opportunity Cost of:1 Car (in terms of tons ofgrain given up) 1 Ton of Grain (in terms ofcars given up)U.S. 2 1/2 2/5Japan 1 1/4 4/5d. Neither country has an absolute advantage in producing cars, since they’re equallyproductive (the same output per worker); the U.S. has an absolute advantage in producing grain, since it’s more productive (greater output per worker).e. Japan has a comparative advantage in producing cars, since it has a loweropportunity cost in terms of grain given up. The U.S. has a comparative advantage in producing grain, since it has a lower opportunity cost in terms of cars given up. f. With half the workers in each country producing each of the goods, the U.S. wouldproduce 200 million cars (that’s 50 million workers times 4 cars each) and 500 million tons of grain (50 million workers times 10 tons each). Japan would produce 200 million cars (50 million workers times 4 cars each) and 250 million tons of grain(50 million workers times 5 tons each).g. From any situation with no trade, in which each country is producing some cars andsome grain, suppose the U.S. changed 1 worker from producing cars to producinggrain. That worker would produce 4 fewer cars and 10 additional tons of grain.Then suppose the U.S. offers to trade 7 tons of grain to Japan for 4 cars. The U.S.will do this because it values 4 cars at 10 tons of grain, so it will be better off if thetrade goes through. Suppose Japan changes 1 worker from producing grain toproducing cars. That worker would produce 4 more cars and 5 fewer tons of grain.Japan will take the trade because it values 4 cars at 5 tons of grain, so it will be betteroff. With the trade and the change of 1 worker in both the U.S. and Japan, eachcountry gets the same amount of cars as before and both get additional tons of grain(3 for the U.S. and 2 for Japan). Thus by trading and changing their production,both countries are better off.4. a. Pat’s opportunity cost of making a pizza is 1/2 gallon of root beer, since she couldbrew 1/2 gallon in the time (2 hours) it takes her to make a pizza. Pat has anabsolute advantage in making pizza since she can make one in two hours, while ittakes Kris four hours. Kris’s opportunity cost of making a pizza is 2/3 gallons ofroot beer, since she could brew 2/3 of a gallon in the time (4 hours) it takes her tomake a pizza. Since Pa t’s opportunity cost of making pizza is less than Kris’s, Pathas a comparative advantage in making pizza.b. Since Pat has a comparative advantage in making pizza, she will make pizza andexchange it for root beer that Kris makes.c. The highest price of pizza in terms of root beer that will make both roommates betteroff is 2/3 gallons of root beer. If the price were higher than that, then Kris wouldprefer making her own pizza (at an opportunity cost of 2/3 gallons of root beer)rather than trading for pizza that Pat makes. The lowest price of pizza in terms ofroot beer that will make both roommates better off is 1/2 gallon of root beer. If theprice were lower than that, then Pat would prefer making her own root beer (she canmake 1/2 gallon of root beer instead of making a pizza) rather than trading for rootbeer that Kris makes.5. a. Since a Canadian worker can make either two cars a year or 30 bushels of wheat, theopportunity cost of a car is 15 bushels of wheat. Similarly, the opportunity cost of abushel of wheat is 1/15 of a car. The opportunity costs are the reciprocals of eachother.b. See Figure 3-4. If all 10 million workers produce two cars each, they produce atotal of 20 million cars, which is the vertical intercept of the production possibilitiesfrontier. If all 10 million workers produce 30 bushels of wheat each, they produce atotal of 300 million bushels, which is the horizontal intercept of the productionpossibilities frontier. Since the tradeoff between cars and wheat is always the same,the production possibilities frontier is a straight line.If Canada chooses to consume 10 million cars, it will need 5 million workers devotedto car production. That leaves 5 million workers to produce wheat, who willproduce a total of 150 million bushels (5 million workers times 30 bushels perworker). This is shown as point A on Figure 3-4.c. If the United States buys 10 million cars from Canada and Canada continues toconsume 10 million cars, then Canada will need to produce a total of 20 million cars.So Canada will be producing at the vertical intercept of the production possibilitiesfrontier. But if Canada gets 20 bushels of wheat per car, it will be able to consume200 million bushels of wheat, along with the 10 million cars. This is shown as pointB in the figure. Canada should accept the deal because it gets the same number ofcars and 50 million more bushes of wheat.Figure 3-46. Though the professor could do both writing and data collection faster than the student (that is,he has an absolute advantage in both), his time is limited. If the professor’s comparative advantage is in writing, it makes sense for him to pay a student to collect the data, since that’s the student’s comparative advantage.7. a. English workers have an absolute advantage over Scottish workers in producingscones, since English workers produce more scones per hour (50 vs. 40). Scottishworkers have an absolute advantage over English workers in producing sweaters,since Scottish workers produce more sweaters per hour (2 vs. 1). Comparativeadvantage runs the same way. English workers, who have an opportunity cost of1/50 sweaters per scone (1 sweater per hour divided by 50 scones per hour), have acomparative advantage in scone production over Scottish workers, who have anopportunity cost of 1/20 sweater per scone (2 sweaters per hour divided by 40 sconesper hour). Scottish workers, who have an opportunity cost of 20 scones per sweater(40 scones per hour divided by 2 sweaters per hour), have a comparative advantagein sweater production over English workers, who have an opportunity cost of 50scones per sweater (50 scones per hour divided by 1 sweater per hour).b. If England and Scotland decide to trade, Scotland will produce sweaters and tradethem for scones produced in England. A trade with a price between 20 and 50scones per sweater will benefit both countries, as they’ll be getting the traded good ata lower price than their opportunity cost of producing the good in their own country.c. Even if a Scottish worker produced just one sweater per hour, the countries wouldstill gain from trade, because Scotland would still have a comparative advantage inproducing sweaters. Its opportunity cost for sweaters would be higher than before(40 scones per sweater, instead of 20 scones per sweater before). But there are stillgains from trade since England has a higher opportunity cost (50 scones per sweater).。
曼昆经济学原理第5版微观PPT课件
十年平均数，1956-2005
16%
进口
14%
(占GDP
12%
的百分
10%
比)
8%
6%
失业 (占劳动
力的百分比)
4%
2%
0%
1956 -65
1966 -75
1976 -85
1986 -95
1996 -2005
19
各种限制贸易的观点
1. 工作岗位论 与其他国家进行贸易消灭了国内的一些工作岗位.
经济学家的回应：
P
无棉谓毛损衫失
=D+F
PS = G
S
总剩余 = A + B
+C+D+E+F+G
关税
A
CS = A + B
$30
B
PS = C + G 政府收入 = E
C $20 G
D
E
F
D
总剩余 = A + B +C+E+G
25 40
70 80 Q
15
对棉衬衫征收关税的分析
D = 衬衫过度生产的 P 无谓损失
F = 衬衫消费不足的 无谓损失
PD > PW 进口 增加 减少 增加
不管一种物品是进口还是出口，都会产生赢家和 输家。但赢家的收益大于输家的损失
10
国际贸易的其他利益
▪ 增加消费物品的多样性 ▪ 生产者将面向一个更多的市场，可以通过规模经
济降低成本
▪ 国外的竞争可以减少国内企业的市场势力，从而
增进总福利
▪ 贸易加强了思想交流，有利于世界范围的技术扩
为他可以在世界市场上以世界价格买进物品
《微观经济学曼昆》PPT课件资料讲解
2
经济学研究什么问题
▪ 稀缺性: 社会资源的有限性 ▪ 经济学: 研究社会如何管理自己的稀缺资源, 比如：
▪ 人们决定购买什么, 工作多长时间，储蓄多少，
消费多少
▪ 企业决定生产多少，雇佣多少工人 ▪ 社会决定如何在国防，消费物品，环境保护和其
▪ “看不见的手”通过价格体系来发挥作用: ▪ 买者与卖者之间的相互作用决定市场价格 ▪ 每个价格即反映了物品对于买者的价值，也反
映了生产物品的成本
▪ 在许多情况下，价格引导自利的家庭与企业做
出使社会经济福利最大化的决策
经济学十大原理
19
人们如何相互交易Biblioteka 原理 7 :政府有时可以改善市场结果
▪ 政府的重要作用: 保护产权 (通过警察，法庭) ▪ 如果人们的财产存在很大的被侵犯的风险，那么他
经济学十大原理
21
人们如何相互交易
原理 7 :政府有时可以改善市场结果
▪ 政府可以改变市场结果以促进公平 ▪ 如果经济福利的市场分配结果不是合意的，税收或
福利政策能改变经济“蛋糕”的分配方式
经济学十大原理
22
主动学习 2
问题讨论
政府在下述情形中发挥何种作用？政府的干预有助 于结果的改善吗？ a. K-12公立学校 b.工作环境安全的监管 c.公共高速公路 d.专利法允许制药公司对急救药索取高价
修理变速器的收益= $800 ($6500 – 5700) 因此，修理变速器是值得的
B.如果变速器正常，汽车价值是$6000 。如果不正 常，则是$5500
修理变速器的收益仅仅为$500
因此花费$600修理变速器是不值得的
曼昆《宏观经济学》(第五版)课堂讲义PPT(英文)Ch04共28页文档
Stock of assets Used for transactions A type of wealth
Self-sufficiency Without Money
Barter economy
Chapter Four
1
Functions of Money
• Store of value • Unit of account • Medium of exchange
Money Velocity = Price Output M V = P Y
Because Y is also total income, V in the quantity equations is called the income velocity of money. This tells us the number of times a dollar bill changes hands in a given period of time.
Chapter Four
5
Chapter Four
• To expand the Money Supply: The Federal Reserve buys U.S. Treasury Bonds and pays for them with new money.
• To reduce the Money Supply: The Federal Reserve sells U.S. Treasury Bonds and receives the existing dollars and then destroys them.
Chapter Four
8
Let’s now express the quantity of money in terms of the quantity of goods and services it can buy. This amount, M/P is called real money balances. Real money balances measure the purchasing power of the stock of money. A money demand function is an equation that shows what determines the quantity of real money balances people wish to hold. Here is a simple money demand function:
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A Duopoly Example: Demand Schedule for Water
Quantity
Price
0
$120
10
110
20
100
30
90
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Characteristics of an Oligopoly Market
Few sellers offering similar or identical products Interdependent firms Best off cooperating and acting like a monopolist by producing a small quantity of output and charging a price above marginal cost
Competition, Monopolies, and Cartels
Although oligopolists would like to form cartels and earn monopoly profits, often that is not possible. Antitrust laws prohibit explicit agreements among oligopolists as a matter of public policy.
Oligopoly
Chapter 16
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work should be mailed to: Permissions Department, Harcourt College Publishers, Harcourt, Inc. items and derived items copyright © 2001 by Harc6o2u7rt7, ISnce.a Harbor Drive, Orlando, Florida 32887-6777.
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ቤተ መጻሕፍቲ ባይዱ
Competition, Monopolies, and Cartels
The duopolists may agree on a monopoly outcome.
40
80
50
70
60
60
70
50
80
40
90
30
100
20
110
10
120
0
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• Wheat • Milk
Markets With Only a Few Sellers
Because of the few sellers, the key feature of oligopoly is the tension between cooperation and self-interest.
Monopolistic Competition
Many firms selling products that are similar but not identical.
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A Duopoly Example: Price and Quantity Supplied
The socially efficient quantity of water is 120 gallons, but a monopolist would produce only 60 gallons of water. So what outcome then could be expected from duopolists?
100 110 120
Price $120 110 100
90 80 70 60 50 40 30 20 10 0
Total Revenue $0 1,100 2,000 2,700 3,200 3,500 3,600 3,500 3,200 2,700 2,000 1,100 0
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The Four Types of Market Structure
Number of Firms?
One firm
Few firms
Many firms
Type of Products?
Differentiated products
Identical products
Monopoly
Oligopoly
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Types of Imperfectly Competitive Markets
Oligopoly
Only a few sellers, each offering a similar or identical product to the others.
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The Equilibrium for an Oligopoly
When firms in an oligopoly individually choose production to maximize profit, they produce quantity of output greater than the level produced by monopoly and less than the level produced by competition.
Joint output is greater than the monopoly quantity but less than the competitive industry quantity. Market prices are lower than monopoly price but greater than competitive price. Total profits are less than the monopoly profit.
Imperfect Competition
Imperfect competition includes industries in which firms have competitors but do not face so much competition that they are price takers.
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A Duopoly Example: Demand
Schedule for Water
Quantity 0 10 20 30 40 50 60 70 80 90
Collusion
The two firms may agree on the quantity to produce and the price to
charge.
Cartel
The two firms may join together and act in unison.
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Summary of Equilibrium for an Oligopoly
Possible outcome if oligopoly firms pursue their own self-interests:
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The Equilibrium for an Oligopoly
A Nash equilibrium is a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the others have chosen.
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A Duopoly Example