Market- Structure-and- Equilibrium课件

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第三章市场结构(Market Structure)

4、寡头垄断市场 oligopoly market
贝恩的市场结构分类
贝恩指出，在一个市场中，若持续存在超额利润，一般就反映了垄断的因素。超额利润越高，市场垄断性越强。因此，贝恩通过对企业超额利润的衡量来判断市场垄断或竞争的强度。贝恩指数的计算公式为： BI=πe／V ，其中πe=（R-C-D）－iV，式中： ★V为投资总额， ★πe为经济利润。其中，超额利润就是总收入R减去当期成本C、折旧额D和正常投资收报酬iV。贝恩指数实际上代表的是行业的超额利润率。贝恩指数越高，表示行业的垄断力量越强。
3.3 产品差异化 product differentiation
典型案例：消费者对特定品牌的产品的偏好，有一个值得讨论的例子。可口可乐公司经过长期的努力，形成了强大的饮料产业进入壁垒，其中，消费者的品牌忠诚是一个十分重要的因素。如果忽视这一因素，就会产生意想不到的后果。80年代，可口可乐公司耗资400万美元动用20万人进行市场调查，并耗巨资开展了声势浩大的广告宣传和促销活动，制定周密的计划，试图改变配方，将一种新型的可口可乐饮料推向市场。1985年开始实施这一新配方计划，以新配方的可口可乐代替原先的产品，不到一个月，事情完全出乎可口可乐公司的预料，消费者发出了一片反对声。每天大约有5000次电话打进消费热线，指责、抱怨可口可乐公司的这一举措。公司还受到约千万封抗议信、怒斥可口可乐公司对消费者感情的背叛。此时，可乐可乐所铸造的进入壁垒被打破，百事可乐趁虚而入，—度占据了饮料市场销售第一的地位。这一被动局面直到可口可乐重新恢复老可口可乐配方之后才得以扭转。
3.2.1 市场结构的概念
市场结构是规定构成市场的卖者（企业）相互
之间、买者相互之间以及买者和卖者集团之间诸关系的因素及其特征。包括两层含义：

Unit 3 Market Structure and Competition_H

• Long run average cost – the total cost divided by the level of output
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© NCC Education Limited
Market Structure and Competition Unit 3 - 3.11
Example: Long Run Average Cost Curve
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© NCC Education Limited
Market Structure and Competition Unit 3 - 3.4
Words you must know
Perfect Competition:
Imperfect Competition:
Monopoly:
A situation where the actions of individual buyers and sellers have no effect on the market price.
Unit 3 – Market Structure and Competition
Accounting and Economics
Accounting and Economics
Unit 3: Market Structure and Competition
V1.0
© NCC Education Limited
How Costs Affect Supply
•Economists tend to be pretty imprecise about the short term and the long term
•Working definition:

03 市场结构

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（三）实践方面
美国司法部的SSNIP方法（small but significant non-transitory 方法（美国司法部的方法 increase in price））
如果假定的垄断者在非短暂的、连续的时期内将价格提高到“ 如果假定的垄断者在非短暂的、连续的时期内将价格提高到“小的但是很重要的程度” 一般在1年以内价格提高5%），有足年以内，），有足的但是很重要的程度”（一般在年以内，价格提高），够多的消费者转向购买其他产品从而使得假定的垄断者无利可图那么就可以判定市场还没有完全包括，，那么就可以判定市场还没有完全包括，该厂商并不具备为获利而提高价格的垄断势力。这时，而提高价格的垄断势力。这时，需要加进替代产品或者地理区域作进一步的检验，直到假定的垄断者可以获利为止。作进一步的检验，直到假定的垄断者可以获利为止。 SSNIP检验法目前被美国、加拿大、欧盟采用并广泛应用到反垄检验法目前被美国、加拿大、检验法目前被美国断诉讼中。断诉讼中。
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供给价格弹性
供给交叉价格弹性：供给交叉价格弹性：是指某种产品供给量的变化对其他产品价格变化的敏感程度。他产品价格变化的敏感程度。
dqi / qi θij = dp j / p j
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（二）需求方面
产业组织理论用来界定市场的主要方法是考察需求方特别是消费者对企业提供的产品需求的替代程度。特别是消费者对企业提供的产品需求的替代程度。
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2.1集中率CRn 集中率
集中率（）：是产业中规集中率（Concentration Ration, CRn ）：是产业中规模最大的前n家企业的市场份额的和家企业的市场份额的和。模最大的前家企业的市场份额的和。

管理经济学ppt课件

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Schedule
Section I : Preliminaries & Demand Theory Section II : Production & Cost Of Production Section III: Theory Of Market Structure Section IV: Application Of Game Theory
X
Y
*
*
例
U（X，Y）=X2+2XY+Y2=（X+Y）2 则，MRS=MUX/MUY=1
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*
二．消费者选择
预算线：收入I，商品X与Y的价格为（PX，PY），则预算约束为：PX X+PY Y≤I
X
Y
斜率=-PX/PY
*
*
预算线的移动
收入变动价格变动
PX下降
PX上升
*
*
消费者剩余
Customer Surplus
Q
P
10
9
8
1
2
3
◇消费者愿意为第一个产品支付10元；为第二个产品支付9元；为第三个产品支付8元；… ◇现在按市场价格P=8购买 3个产品，实际支付24元，所以，获得剩余为（10-8）+（9-8）=3 ◇若连续变动，则剩余为 ∑（Pi-P*）=∫∞P*D（P）dP
产品消费者
土地所有者
管理人员
劳动力的提供者
工程技术人员
体力劳动者
资本所有者
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三．企业理论
企业的边界企业本质上是将监督外部交易活动转化为内部控制交易成本 Vs．代理成本 Coase定理（1937）：

中级宏观经济学-Market_Equilibrium

ε= (Δq / q ) / (Δp / p)
= ( p / q ) / (Δp /Δq), or
ε= ( d q / q ) / ( d p / p)
= ( p / q ) / ( d p / d q) = slope of ray / slope of curve .
A good has an
Special cases of equilibrium p286
PRICE PRICE
Supply curve Demand curve
Demand curve
p*
p*
Supply curve
q*
QUANTITY
q*
QUANTITY
A
B
Algebra
of the equilibrium. Comparative statics. Shifting both curves. p289
PRICE
Demand Supply
A C B D
Amount Pp of tax revenue: Pr A+C
QUANTITY Q* The deadweight loss of the tax: B+D
elastic ( inelastic, unitary) demand
if
|ε| > 1 ( |ε| < 1 , |ε| = 1 ).
Elasticity and revenue.
R = pq, ΔR = qΔp + pΔq , and then ΔR/ Δp = q [ 1 +ε(p) ] where ε( p ) = ( pΔq ) / (qΔp).
The The
market supply curve. competitive equilibrium. efficiency.

管理经济学课件Chapter02

MANAGERIAL ECONOMICS
Figure
2.2
MAURICE
THOMAS
Shifts in Demand
M, PR , J, Pe , N
McGraw-Hill/Irwin
© 2002 The McGraw-Hill Companies, Inc. All rights reserved.
2.1 需求(Demand)
• 导致市场需求移动的变量
导致市场需求曲线移动的变量
变量值的增加……
互补品的价格
导致需求曲线向右移动
因为消费者购买的互补品会减少，该产品会减少消费者把它们较高收入中较少的部分用于购买该产品
收入（且该产品是劣质品）
•惠普公司估计amount of a good that will be purchased for a given price – Maximum price consumers will pay for a specific amount of the good
2.需求函数(Demand Functions)
使惠普公司打印机的需求量比预测的要低很多
Qd a bP cM dPR e fPe gN
Variable Relation to Qd
Inverse Direct for normal goods Inverse for inferior goods Direct for substitutes
化

收入效应

产品价格变化对消费者购买力的影响所导致
的对这种产品需求量的变化
4.需求曲线的移动(Shifts in Demand)
当商品的价格发生变化时，消费者对此种商品的需求量也就会发生相应的变化，它表现为沿着确定的需求曲线移动。

Bodie2e_Chapter13 Capital Market Equilibrium 英文版PPT金融学(第二版) 教学课件

• Confidence improves with the number of observations
• In practice the parameters have time dependence, so old data introduces error
• For 2,000 shares, and a 99% confidence, about 20,000 parameters will be in error
– diversifiable or individual risk – Nondiversifiable or market risk
13 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Specifying the Model
– The problem is similar to knowing the position and velocity of every star in the Milky Way, and attempting to predict their futures by computing ind1i0vidual interactions
return
15 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Specifying the Model: Assumptions
• Company-specific return on any stock x
– is not correlated to the company-specific return on any other stock y

市场结构PPT课件讲义

What is a “MARKET” ?
In Economics, a Market is defined as a context in which exchange of goods and services between sellers and buyers takes place.
A Market exists whenever a transaction is made.
Concept Tour
Market 市場
Market Structure 市場結構
Perfect Competition 完全競爭
Monopoly 壟斷
Imperfect Competition 不完全競爭
Oligopoly 寡頭壟斷
Monopolistic Competition 壟斷性競爭
What is a “MARKET” ?
Similar but Differentiate Products
• the products are close substitutes to one another
Entry is Restricted
• it is difficult because of government regulation/huge capital/technological requirements
No Close Substitutes
• buyers are difficult to find another goods to satisfy the same want
Highly Difficult (even impossible) to entry • it is because of monopoly power

《经济学market》课件

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市场供给曲线
市场内供应者在特定时间内为特定商品不同价格提供的商品数量总和。它是某一价格下的数量必然正相关的，例如：当商品价格上升时，供给量增加。
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市场均衡点
市场的均衡点是市场需求和市场供给相遇的地方。在这个价格和数量上，市场供应和需求相等。
市场结构和竞争
完全竞争市场
市场供方数量众多，其影响力都很小，定价能力有限，可以充分竞争。
《经济学market》PPT课件
市场经济是一种基于供给和需求之间相互交互的经济体系。在本课件中，我们将探讨市场定义和概述，市场的供给和需求关系，市场结构和竞争，市场失灵与政府干预，市场规模扩张和市场营销，市场调研和消费行为分析以及市场风险管理和市场预测。
市场定义和概述
市场的基本概念
市场是指有买卖行为的场所和交易的对象，是通过供求关系协调商品和服务分配的机制。
垄断市场
市场上只有一个供应者或供方组织占据主导地位，定价能力最大。
垄断竞争市场
市场供方数量众多，但是个别供方专有一种或几种不同的产品，销售区域有限。相对于完全竞争，他们的定价能力更大。
寡头垄断市场
市场上只有几个有较大定价能力的供应者或供方组织。
市场失灵与政府干预
1
政府干预
2
市场失灵使政府参与来恢复社会经济效率。政府可使用4种政策来修正市场失灵：补贴、税收、管制和公共物
市场营销策略
市场营销策略包括市场分析、策划、执行和评估。策略的目的是满足客户需求，同时提高企业利润。
广告与宣传
广告与宣传是市场营销中最为重要的因素之一，有助于向客户展示产品特点和价值，提高知名度。
市场调研和消费行为分析

中级微观经济学课件.ppt

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Expectations
▪ Expectations affect consumers’ buying
decisions.
▪ Future income and future prices ▪ Examples:
▪ If people expect their incomes to rise,
their demand for meals at expensive restaurants may increase now.
▪ If people expect the price of gold to rise,
their demand for gold may increase now.
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$6.00 $5.00 $4.00 $3.00 $2.00 $1.00
Price of chocolate
(USD)
Quantity of
chocolates demanded
$0.00
16
1.00
14
2.00
12
3.00
10
4.00
8
5.00
6
6.00
4
$0.00 0
Quantity of
5
10
15 chocolates
▪ If any of these other factors change, the
demand curve will shift.
9
Demand Curve Shifters
P
An increase in
demand is
represented by a
shift of the demand
curve to the right.

Demand,Supply,andMarketEquilibrium：需求，供给，市场均衡

Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d To o l sO’S u l liva n ,Sh e f f rin,Pe r ez6/e .1of 40Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d T o o l sO’S u l liva n , Sh e f f rin,Pe r ez6/e.2of 40Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. E Demand, Supply, andMarket Equilibriumc on o m ic s:P r inc ipl es ,App l icat ion s ,a n d T o o l sO’S u l liva n , Sh e f f rin, P e r ez6/e.3of 40F ERNANDO Q UIJANO, Y VONN Q UIJANO, AND X IAO X UAN X UP R E P A R E D B Y The price of vanilla is bouncing.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ip l es ,App l ica t ion s ,a n d T o o l sO’S u l liv a n ,Sh e f f rin ,Pe r ez6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium4of 40A P P L Y I N G T H E C O N C E P T S 12How do changes in demand affect prices?Hurricane Katrina and Baton Rouge Housing Prices How do changes in supply in one market affect other markets?Honey Bees and the Price of Ice Cream How does the adoption of new technology affect prices?Electricity from the WindHow do changes in supply affect prices?The Bouncing Price of Vanilla BeansHow do producers respond to higher prices?Drought in Australia and the Price of Rice345Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d T o o l sO’S u l liv a n , Sh e f f rin,Pe r ez6/e. C H A P T E R 4Demand, Supply , and Market Equilibrium DEMAND, SUPPLY, AND MARKET EQUILIBRIUM 5of 40●perfectly competitive market A market with so many buyers and sellers that no single buyer or seller can affect the market price.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. E c o n o m i cs:P r inc ipl es ,App l icat ion s ,a n d T o o l sO’S u l l iva n ,Sh e f f rin, Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 6of 40THE DEMAND CURVE 4.1●quantity demanded The amount of a product that consumers are willing and able to buy.●demand schedule A table that shows the relationship between the price of a product and the quantity demanded, ceteris paribus.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ip l es ,Ap p l ica t ion s ,a n d To o l sO ’S u l liva n ,Sh e f f rin ,Pe r ez6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium 7of 40THE DEMAND CURVE 4.1Here is a list of the variables that affect an individual consumer’sdecision, using the pizza market as an example:•The price of the product (for example, the price of a pizza)•The consumer’s income•The price of substitute goods (for example, the prices of tacos or sandwiches or other goods that can be consumed instead of pizza)•The price of complementary goods (for example, the price of lemonade or other goods consumed with pizza)•The consumer’s preferences or tastes and advertising that may influence preferences•The consumer’s expectations about future prices Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics :P r inc i pl es ,Ap p l icat io n s ,a n d T o o l sO ’S u l liva n , S h e f f rin,Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 8of 40THE DEMAND CURVE 4.1The Individual Demand Curve and the Law of Demand ●law of demand There is a negative relationship between price and quantity demanded, ceteris paribus .●change in quantity demanded A change in the quantity consumers are willing and able to buy when the price changes; represented graphically by movement along the demand curve.●individual demand curve A curve that shows the relationship between the price of a good and quantity demanded by an individual consumer, ceteris paribus .Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. E c o n o m i c s : P r i n c i p l e s ,App l icat ion s , a n d T o o l sO’S u l liva n ,S h e f f rin, Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 9of 40THE DEMAND CURVE 4.1The Individual Demand Curve and the Law of Demand FIGURE 4.1The Individual Demand Curve According to the law of demand, the higher the price, the smaller the quantity demanded, everything else being equal. Therefore, the demandcurve is negatively sloped: Whenthe price increases from $6 to $8, the quantity demanded decreases from seven pizzas per month (point c ) to four pizzas per month (point b ).Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. E c on o m ic s:P r in c ip l es ,Ap p l i cat ion s ,a n d To o l sO ’S u l liv a n ,Sh e f f rin ,P e r e z6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium 10of 40THE DEMAND CURVE 4.1From Individual Demand to Market Demand●market demand curve A curve showing the relationship between price and quantity demanded by all consumers, ceteris paribus .FIGURE 4.2From Individual toMarket DemandThe market demand equals the sum of the demands of all consumers. In this case, there are only two consumers, so at each pricethe market quantity demanded equals the quantity demanded by Al plus the quantity demanded by Bea. At a price of $8, Al’s quantity is four pizzas (point a ) andBea’s quantity is two pizzas(point b ), so the market quantity demanded is sixpizzas (point c ).Each consumer obeys thelaw of demand, so the marketdemand curve is negatively sloped.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ic s:P r in c ipl es ,App l icat io n s ,a n d T o o l sO’S u l li va n , S h e f f r in,P e r ez6/e. C H A P T E R 4Demand, Supply , and Market Equilibrium 11of 40THE SUPPLY CURVE 4.2Suppose you ask the manager of a firm, “How much of your product are you willing to produce and sell?” The manager’s decision about how much to produce depends on many variables, including the following, using pizza as an example:•The price of the product (for example, the price per pizza)•The wage paid to workers •The price of materials (for example, the price of dough and cheese)•The cost of capital (for example, the cost of a pizza oven)•The state of production technology (for example, the knowledge used in making pizza)•Producers’ expectations about future prices•T axes paid to the government or subsidies (payments from thegovernment to firms to produce a product)Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics :P r i nc ip l es ,App l icat ion s ,a n d T o o l sO’S u l liv a n ,Sh e f f rin, Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 12of 40THE SUPPLY CURVE 4.2The Individual Supply Curve and the Law of Supply ●supply schedule A table that shows the relationship between the price of a product and quantity supplied,ceteris paribus.●individual supply curve A curve showing the relationshipbetween price and quantity supplied by asingle firm,ceteris paribus.●quantity supplied The amount of a product that firms are willing and able to sell.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l ic at io n s , a n d T o o l sO’S u l liva n ,S h e f f rin,Pe r ez6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium 13of 40THE SUPPLY CURVE 4.2The Individual Supply Curve and the Law of Supply FIGURE 4.3The Individual Supply Curve The supply curve of an individual supplier is positively sloped, reflecting the law of supply. As shown by point a , the quantitysupplied is zero at a price of $2, indicating that the minimum supply price is just above $2. An increase in price increases the quantity supplied to 100 pizzas ata price of $4, to 200 pizzas at aprice of $6, and so on.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ic s:P r inc ipl es ,App l i cat io n s , a n d T o o l sO’S u l liv a n , Sh e f f rin,Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 14of 40THE SUPPLY CURVE 4.2The Individual Supply Curve and the Law of Supply ●law of supply There is a positive relationship between price and quantity supplied,ceteris paribus.●change in quantity supplied A change in the quantity firms are willing and able to sell when the price changes; represented graphically by movement along the supply curve.●minimum supply price The lowest price at which a product will be supplied.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,Ap p l ic at io n s ,a n d T o o l sO’S u l liva n ,Sh e f f rin , Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 15of 40THE SUPPLY CURVE 4.2Why Is the Individual Supply Curve Positively Sloped?From Individual Supply to Market Supply ●market supply curveA curve showing the relationshipbetween the market price and quantitysupplied by all firms, ceteris paribus.M A R G I N A L P R I N C I P L EIncrease the level of an activity as long as its marginal benefit exceeds its marginal cost. Choose the level at which the marginal benefit equals the marginal cost.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d To o l sO ’S u l liv a n ,Sh e f f r in,P e r ez6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium 16of 40THE SUPPLY CURVE 4.2From Individual Supply to Market Supply ②FIGURE 4.4From Individual to Market SupplyThe market supply is the sum of the supplies of all firms. In Panel A, Lola is a low-costproducer who produces the first pizza once the price rises above $2 (shown by point a ).In Panel B, Hiram is a high-cost producer who doesn’t produce pizza until the price rises above $6 (shown by point f ).To draw the market supply curve, we sum the individual supply curves horizontally. At a price of $8, market supply is 400 pizzas (point m ), equal to 300 from Lola (point d ) plus 100from Hiram (point g ).Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es , Ap p l ic at io n s ,a n d T o o l sO ’S u l liva n , S h e f f rin,Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 17of 40THE SUPPLY CURVE 4.2From Individual Supply to Market Supply ④FIGURE 4.5The Market Supply Curve with Many Firms The market supply is the sum of the supplies of all firms. The minimum supply price is $2 (point a ), and the quantity supplied increases by 10,000 for each $2 increase in price to 10,000 at a price of $4(point b ), to 20,000 at aprice of $6 (point c ), and soon.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l ica t ion s ,a n d T o o l sO’S u l liva n ,Sh e f f rin, Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 18of 40THE SUPPLY CURVE 4.2Why Is the Market Supply Curve Positively Sloped?T o explain the positive slope, consider the two responses by firms to an increase in price:•Individual firm.As we saw earlier, a higher price encourages a firm to increase its output by purchasing more materials and hiring more workers.•New firms.In the long run, new firms can enter the market and existing firms can expand their production facilities to produce more output.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics :P r inc i pl es ,App l ica t ion s ,a n d T o o l sO’S u l liv a n ,Sh e f f rin,Pe r ez6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium 19of 40MARKET EQUILIBRIUM: BRINGING DEMAND AND SUPPLY TOGETHER 4.3Excess Demand Causes the Price to Rise●excess demand (shortage)A situation in which, at the prevailing price, the quantity demanded exceedsthe quantity supplied.Excess Supply Causes the Price to Drop●excess supply (surplus)A situation in which the quantity suppliedexceeds the quantity demanded at the prevailing price.●market equilibrium A situation in which the quantity demanded equals the quantity supplied at the prevailing market price.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es , Ap p l ic at io n s , a n d T o o l sO’S u l liva n , S h e f f rin,Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 20of 40MARKET EQUILIBRIUM: BRINGING DEMAND AND SUPPLY TOGETHER 4.3 FIGURE 4.6Market Equilibrium At the market equilibrium (point a , with price = $8 and quantity = 30,000), the quantity supplied equals the quantity demanded.At a price below the equilibrium price ($6), there is excess demand —the quantity demanded at point c exceeds the quantity supplied at point b .At a price above the equilibriumprice ($12), there is excesssupply —the quantity supplied atpoint e exceeds the quantitydemanded at point d .Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. E c o n o m i c s : P r i n c i p l e s ,Ap p l ic at i on s ,a n d T o o l sO ’S u l liv a n ,Sh e f f rin , P e r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 21of 40MARKET EFFECTS OF CHANGES IN DEMAND 4.4Change in Quantity Demanded versus Change in Demand FIGURE 4.7Change in Quantity Demanded versus Change in Demand●change in demandA shift of the demand curve caused by a change ina variable other than the price of the product.(A) A change in price causes a change in quantity demanded, amovement along a single demand curve.For example, a decrease in price causes a move from point a to point b , increasing the quantity demanded.(B) A change in demandcaused by changes in avariable other than the price of the good shiftsthe entire demandcurve. For example, an increase in demandshifts the demand curve from D to D .Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ic s:P r inc ipl es ,Ap p l i cat i on s , a n d To o l sO ’S u l liva n ,S h e f f rin,Pe r ez6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium 22of 40MARKET EFFECTS OF CHANGES IN DEMAND 4.4Increases in Demand Shift the Demand Curve ●normal good A good for which an increase in income increases demand.●inferior goodA good for which an increase in incomedecreases demand.●substitutesTwo goods for which an increase in theprice of one good increases the demandfor the other good.●complements Two goods for which a decrease in the price of one good increases the demandfor the other good.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d T o o l sO’S u l liva n , Sh e f f rin,Pe r ez6/e. C H A P T E R 4Demand, Supply , and Market Equilibrium 23of 40MARKET EFFECTS OF CHANGES IN DEMAND 4.4Increases in Demand Shift the Demand Curve Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. E c o n o m i c s : P r i n c i p l e s ,Ap p l i cat ion s ,a n d T o o l sO ’S u l liv a n ,S h e f f rin, Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 24of 40MARKET EFFECTS OF CHANGES IN DEMAND 4.4Increases in Demand Shift the Demand Curve FIGURE 4.8An Increase in Demand Increases the Equilibrium PriceAn increase in demand shifts thedemand curve to the right: At each price, the quantitydemanded increases.At the initial price ($8), there is excess demand, with the quantity demanded (point b ) exceeding the quantity supplied (point a ).The excess demand causes the price to rise, and equilibrium isrestored at point c .To summarize, the increase in demand increases the equilibriumprice to $10 and increases theequilibrium quantity to 40,000pizzas.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ic s:P r in c ipl es , Ap p l ic at io n s ,a n d T o o l sO ’S u l liva n ,S h e f f rin,Pe r ez6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium 25of 40MARKET EFFECTS OF CHANGES IN DEMAND 4.4Decreases in Demand Shift the Demand Curve ④FIGURE 4.9A Decrease in Demand Decreases the Equilibrium PriceA decrease in demand shifts the demand curve to the left: At each price, the quantitydemanded decreases. At the initial price ($8), there is excess supply, with the quantitysupplied (point a ) exceeding the quantity demanded (point b ).The excess supply causes theprice to drop, and equilibrium isrestored at point c .To summarize, the decrease in demand decreases theequilibrium price to $6 and decreases the equilibriumquantity to 20,000 pizzas.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d T o o l sO’S u l liva n , Sh e f f r i n , P e r e z6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 26of 40MARKET EFFECTS OF CHANGES IN DEMAND 4.4Decreases in Demand Shift the Demand Curve Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. E c o n o m i c s : P r i n c i p l e s ,App l icat ion s ,a n d T o o l sO ’S u l liva n , Sh e f f rin, Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 27of 40MARKET EFFECTS OF CHANGES IN SUPPLY 4.5Change in Quantity Supplied versus Change in Supply ②FIGURE 4.10Change in Quantity Supplied versus Change in Supply (A) A change in price causes a change in quantity supplied, a movement along a single supplycurve. For example, an increase in price causes a move from point a to point b .(B) A change in supply (caused by a change in something other than the price of the product) shifts the entire supply curve. For example, an increase in supply shifts the supply curve from Sto S. For any given price (for example, $6), a larger quantity is supplied (25,000 pizzas at point c instead of 20,000 at point a ). The price required to generate any given quantity decreases. For example, the price required to generate 20,000 pizzas drops from $6 (point a ) to $5 (point d ).Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d To o l sO’S u l liva n ,Sh e f f rin,Pe r ez6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium 28of 40MARKET EFFECTS OF CHANGES IN SUPPLY 4.5Increases in Supply Shift the Supply Curve Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ic s:P r in c ipl es , Ap p l ic at io n s ,a n d T o o l sO ’S u l liva n , S h e f f rin,Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 29of 40MARKET EFFECTS OF CHANGES IN SUPPLY 4.5An Increase in Supply Decreases the Equilibrium Price FIGURE 4.11An Increase in Supply Decreases the Equilibrium Price An increase in supply shifts the supply curve to the right: At each price, the quantity supplied increases. At the initial price ($8), there is excess supply, with the quantity supplied (point b ) exceeding the quantity demanded (point a ). The excess supply causesthe price to drop, andequilibrium is restored at pointc .To summarize, the increase in supply decreases theequilibrium price to $6 and increases the equilibriumquantity to 36,000 pizzas.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d T o o l sO’S u l liva n ,Sh e f f rin, Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 30of 40MARKET EFFECTS OF CHANGES IN SUPPLY 4.5Decreases in Supply Shift the Supply CurveCopyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ic s:P r in c ipl es , Ap p l ic at io n s ,a n d T o o l sO ’S u l liva n ,S h e f f rin,Pe r ez6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium 31of 40MARKET EFFECTS OF CHANGES IN SUPPLY 4.5A Decrease in Supply Increases the Equilibrium Price ④FIGURE 4.12A Decrease in Supply Increases the Equilibrium Price A decrease in supply shifts the supply curve to the left. At each price, the quantity supplied decreases. At the initial price ($8), there is excess demand, with the quantity demanded (point a ) exceeding the quantity supplied (point b ). The excess demandcauses the price to rise, andequilibrium is restored at pointc .To summarize, the decrease in supply increases theequilibrium price to $8 and decreases the equilibrium quantity to 24,000 pizzas.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d T o o l sO’S u l liv a n , Sh e f f rin,Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 32of 40MARKET EFFECTS OF CHANGES IN SUPPLY 4.5Simultaneous Changes in Demand and Supply ②FIGURE 4.13Market Effects of Simultaneous Changes in Demand and Supply (A) Larger increase in demand. If the increase in demand is larger than the increase in supply (if the shift of the demand curve is larger than the shift of the supply curve), both the equilibrium price and the equilibrium quantity will increase.(B) Larger increase in supply. If the increase in supply is larger than the increase in demand (if the shift of the supply curve is larger than the shift of the demand curve), the equilibrium price willdecrease and the equilibrium quantity will increase.Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d T o o l sO’S u l liva n ,Sh e f f rin, Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 33of 40PREDICTING AND EXPLAINING MARKET CHANGES 4.6Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l icat ion s ,a n d To o l sO’S u l liv a n , Sh e f f rin,Pe r ez6/e . C H A P T E R 4Demand, Supply , andMarket Equilibrium 34of 40APPLICATIONS OF DEMAND AND SUPPLY 4.7We can apply what we’ve learned about demand and supply to realmarkets. We can use the model of demand and supply to predictthe effects of various events on equilibrium prices and quantities. We can also explain some observed changes in equilibrium prices and quantities. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. Ec on o m ics:P r inc ipl es ,App l ica t ion s ,a n d T o o l sO’S u l liva n , S h e f f rin, Pe r ez6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 35of 40HURRICANE KA TRINA AND BA TON ROUGE HOUSING PRICES APPLYING THE CONCEPTS #1: How do changes in demand affect prices?④FIGURE 4.14Hurricane Katrina and Housing in Baton Rouge An increase in the population of Baton Rouge increases thedemand for housing, shifting the demand curve to right.The equilibrium price increases from $130,000 (point a ) to $156,000 (point b ) A P P L I C A T I O N 1Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall. E c o n o m i c s : P r i nc ipl es ,Ap p l ica t ion s ,a n d T o o l sO’S u l liva n ,Sh e f f rin, P e r e z6/e. C H A P T E R 4Demand, Supply , andMarket Equilibrium 36of 40②FIGURE 4.15Honeybees and the Price of Ice Cream HONEYBEES AND THE PRICE OF ICE CREAMAPPLYING THE CONCEPTS #2: How do changes in supply inone market affect other markets?A decrease in pollination by bees decreases the output of fruit andnuts, increasing the prices of some ingredients for ice cream. The resulting increase in the cost of producing ice cream shifts the supply curve upward, increasingthe equilibrium price and decreasing the equilibrium quantity.A P P L I C A T I O N 2。

米什金《货币金融学-英文第12版》PPT课件-第五章-利率行为

FinanceChapter2 Financial MarketsInterest Rates and Calculation of Interest RatesThe Behavior of Interest RatesThe Risk and Term Structure of Interest RatesThe Stock Market, theTheory of Rational Expectations, and the Efficient Market HypothesisLecture 5The Behavior of Interest Rates•Determinants of Asset Demand•Supply and Demand in the Bond Market •Supply And Demand in the Money Market: The Liquidity Preference FrameworkLearning ObjectivesIdentify the factors that affect the demand for assets.Draw the demand and supply curves for the bond market and the money market, identify the equilibrium interest rate.List and describe the factors that affect the equilibrium interest rate in the bond market and the money market.Identify and illustrate the effects on the interest rate of changes in money growth over time.Interest Rate Determination Theory•Asset Demand Theory•Bond Supply and Demand Analysis •Money Supply and Demand Analysis ——(Liquidity Preference Framework)Part 1Determinants of Asset Demand1.1 Determinants of Asset DemandAsset is a piece of property that is a store of value.资产就是具有价值储藏功能的财产Money, bonds, stocks, art, land, houses, farm equipment, and manufacturing machinery are all assets.1.1 Determinants of Asset DemandDeterminants of Asset Demand:•Wealth: total resources owned by the individual, including all assets;•Expected return relative to other assets; (Expected return: the return expected over the next period)•Risk relative to other assets; (Risk: the degree of uncertainty associated with the return)•Liquidity relative to other assets; (Liquidity: the ease and speed with which an asset can be turned into cash)1.2 Theory of Portfolio ChoicePart 2Supply and Demand in the Bond Market2 Supply and Demand in the Bond Market2.1 Demand CurveConsider the demand for one-year discount bonds, which make no coupon payments but pay the owner the $1,000 face value in a year.If the holding period = years to maturity = 1 year, rate of return = interest rateii=RR=FF−PP PPwhere i= interest rate = yield to maturityRR= rate of returnF = face value of the discount bondP = initial purchase price of the discount bond2.1 Demand CurveIf the bond sells for $950, the interest rate and rate of return areii=RR=$1000−$950$950=0.053=5.3%At a price of $900, the interest rate and rate of return areii=RR=$1000−$900$900=0.111=11.1%Each bond price has a corresponding interest rate and expected rate of return2.1 Demand CurveAs predicted by portfolio theory, when the rate of return is higher, with all other economic variables (such as income, expected returns on other assets, risk, and liquidity) held constant, the quantity demanded of these bonds will be higher.根据资产需求的决定因素，当回报率上升时，其他要素不变，资产需求量也随之上升。

Market_Structure_and_Competition

The major market forms are：
• Perfect competition（完全竞争）： in which the ）：, （完全竞争）： market consists of a very large number of firms producing a homogeneous product. • Monopoly（完全垄断）： where there is only one （完全垄断） provider of a product or service. • Monopolistic competition（垄断竞争）： also called （垄断竞争） competitive market, where there are a large number of independent firms which have a very small proportion of the market share. • Oligopoly（寡头竞争）： in which a market is （寡头竞争） dominated by a small number of firms which own more than 40% of the market share.
Market leader: the firm with the largest market share, which is often the first company to have entered the field. The marker leader is frequently able to lead other firms in the introduction of new products, in price changes, in the level or intensity of promotions, and so on.

北大微观经济学课件ch16Equilibrium

2
供给增加
价格下降，数量增加。
3
需求减少
价格下降，数量减少。
Partial Equilibrium A nalysis（偏微观经济分析）
偏微观经济分析关注单个市场的均衡和效率。基于特定假设，分析供求之间的关系和对市场的影响。
1 假设1：替代品
假设商品之间没有替代关系。
2 假设2：居民收入不变
假设居民收入在分析期间内保持不变。
3 假设3：其他因素不变
假设其他影响供求的因素不变。
General Equilibrium Analysis（一般均衡分析）
一般均衡分析研究了多个市场之间的相互依赖关系。考虑不同市场之间的影响和调整过程。
Interdependence of Markets（市场相互依存）
静态均衡（Static Equilibrium）
市场供求达到平衡，价格和数量保持不变。
动态均衡（D ynamic Equilibrium）
市场在长期内逐步调整，供求会发生变化。
市场均衡（Market Equilibrium）
市场上买卖的价格和数量达到了一种稳定的状态。
D emand and Sup ply（需求和供给）
降。
3
需求增加（Increase in D emand ）
需求曲线向右移动，导致价格和数量上升。
供给增加（Increase in Supp ly）
供给曲线向右移动，导致价格下降，数量上升。
Changes in Equilibrium（均衡的变化）
需求和供给变化会导致均衡点的变化。价格和数量会调整，以达到新的均衡状态。
北大微观经济学课件 ch16Equilibrium
欢迎来到北大微观经济学课件ch16Equilibrium，让我们探索市场均衡和效率的奥秘。

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• Optimal level of output is where MR = MC = P1
• In long-run P will go to P2 where pure profit is eliminated
。
7
Market Supply Curve
Summation of supply curves for individual firms
Q2 Q1
。
6
Market Equilibrium
Perfect Competition
Individual Firm
Price (P) MC
ATC P1 P2Q2 源自1• All firms are price takers
• Market price (P1) equals marginal revenue (MR) and average revenue (AR)
• Amount and cost information about product price and quality, and
• Conditions for entry into and exit from a market
。
3
Market Equilibrium
Perfect Competition
Q Qm
Demand
Market supply curve = Sum vertically
Qj Qt Qp Qj
。
Janet’s sawmill
Tracy’s sawmill Pete’s sawmill
Joe’s sawmill Pm (same P for all firms and market)
Market Structure and Equilibrium
We will consider the two extreme cases
Perfect Competition Monopoly
。
1
Market Efficiency
• Decision makers in a market behave rationally and have full access to all relevant behavior.
Qs = Qd 30 + 55 P = 230 – 45 P
100 P = 200
P = 2 = MR
• Use P to get equilibrium quantity, Qe
Qe = 230 – 45 x 2 = 230 –90 = 140
。
9
Apply Market Price to Individual Firm – “Pete’s Sawmill”
。
10
Market Equilibrium Monopoly
• Only one producer
– Producer is a price “setter”, not a price taker
• Demand curve restricts ability to set price
– Demand curve determines marginal revenue (MR)
+ +
+
P
8
Perfect Competition - Example
• Given supply and demand functions,
Qs = 30 + 55 P Qd = 230 – 45 P • Determine marginal revenue, MR, i.e. Pe, from supply and demand curves for total market. Calculate Pe from market supply equals demand equilibrium condition,
• Consumer and producer surplus is maximized
。
2
Determinants of Market Structure
• Number and size of buyers, sellers, and potential entrants,
• Degree of product differentiation
• Only way to change quantity sold is to change market price
• Marginal revenue (MR) is not constant
• What forces lead to a monopoly
。
P = $2 from market equilibrium
Determine quantity Pete should produce from Pete’s marginal cost (MC) curve, which is,
Qs = 5 + 5.8 P = 5 + 5.8 x 2 = 16.6
• Supply forces (producers) P and demand forces (consumers) seek a balance
Demand curve
• Price below perceived Pe value increases demand
• Price above ATC provides pure profit, an incentive to increase supply
Perfect Competition
Individual Firm
Price (P) ATC
MC
P1 P2
• Price above ATC provides pure profit, an incentive to increase output
• Pure profit equals
(P1 x Q1) – (P2 x Q2)
Supply
curve
Q
。
4
Individual Firm’s Demand and MR Curve
P
Highly elastic demand
One firm’s change in Q has little effect on price
Pe
∆P
∆Q
。
Q
5
Market Equilibrium