Chapter14利润最大化的高级技巧
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14-11
Managerial Economics
Inverse Demand Curve for Each of 100 Identical Senior Golfers (Figure 14.3)
14-12
Managerial Economics
Demand at NorthvaleFra Baidu bibliotekGolf Club
14-17
Managerial Economics
Allocating Sales Between Markets
(Figure 14.6)
14-18
Managerial Economics
Constructing the Marginal Revenue Curve (Figure 14.7)
14-7
Managerial Economics
First-Degree (Perfect) Price Discrimination (Figure 14.2)
14-8
Managerial Economics
Second-Degree Price Discrimination
• Lower prices are offered for larger quantities and buyers can self-select the price by choosing how much to buy • When the same consumer buys more than one unit of a good or service at a time, the marginal value placed on additional units declines as more units are consumed
(Figure 14.4)
14-13
Managerial Economics
Second-Degree Price Discrimination
• Declining block pricing
• Offers quantity discounts over successive discrete blocks of quantities purchased
14-9
Managerial Economics
Second-Degree Price Discrimination
• Two-part pricing
• Charges buyers a fixed access charge (A) to purchase as many units as they wish for a constant fee (f) per unit
• When consumers have identical demands, entire consumer surplus can be captured by: • Setting f = MC • Setting A = consumer surplus (CS) • Optimal usage fee when two groups of buyers have identical demands is the level for which MRf = MCf
14-23
MRJ = MC
Managerial Economics
Profit-Maximizing Allocation of Production Facilities (Figure 14.9)
14-24
Managerial Economics
Profit-Maximization with Joint Products (Figure 14.11)
Multiple Products
• Related in production as complements
• To maximize profit, set joint marginal revenue equal to marginal cost:
• If profit-maximizing level of joint production exceeds output where MRJ kinks, units beyond zero MR are disposed of rather than sold • Profit-maximizing prices are found using demand functions for the two goods
14-19
Managerial Economics
Profit-Maximization Under Third-Degree Price Discrimination (Figure 14.8)
14-20
Managerial Economics
Multiple Products
• Related in consumption
• For two products, X & Y, produce & sell levels of output for which
MRX = MCX and MRY = MCY • MRX is a function not only of QX but also of QY (as is MRY) -- conditions
• Total expenditure (TE) for q units is:
TE A fq
Average price ( p) is:
TE A fq p q q
A f q
14-10
Managerial Economics
Second-Degree Price Discrimination
Managerial Economics
ninth edition
Thomas Maurice
Chapter 14
Advanced Pricing Techniques
McGraw-Hill/Irwin McGraw-Hill/Irwin Managerial Economics, 9e Managerial Economics, 9e
• Difficulties
• Requires precise knowledge about every buyer’s demand for the good • Seller must negotiate a different price for every unit sold to every buyer
Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.
Managerial Economics
Advanced Pricing Techniques
• Price discrimination • Multiple products • Cost-plus pricing
• Allocate output (sales) so MR1 = MR2 • Optimal total output is that for which
MRT = MC
• For profit-maximization, allocate sales of total output so that
PA PB MC A MCB
14-5
Managerial Economics
Price Discrimination
Three conditions necessary to practice price discrimination profitably:
1) Firm must possess some degree of market power 2) A cost-effective means of preventing resale between lower- and higher-price buyers (consumer arbitrage) must be implemented 3) Price elasticities must differ between individual buyers or groups of buyers
• Price discrimination
14-3
Managerial Economics
The Trouble with Uniform Pricing
(Figure 14.1)
14-4
Managerial Economics
Price Discrimination
• Exists when the price-to-marginal cost ratio differs between two products:
• Optimal level of facility usage in the long run is where MRPT = MC • For profit-maximization:
MRPX = MRPY
MRPT = MC = MRPX = MRPY
14-22
Managerial Economics
must be satisfied simultaneously
14-21
Managerial Economics
Multiple Products
• Related in production as substitutes • For two products, X & Y, allocate
production facility so that
14-25
Managerial Economics
Cost-Plus Pricing
14-6
Managerial Economics
First-Degree (Perfect) Price Discrimination
• Every unit is sold for the maximum price each consumer is willing to pay
• Allows the firm to capture entire consumer surplus
MRT = MC = MR1 = MR2
14-16
Managerial Economics
Third-Degree Price Discrimination
• Equal-marginal-revenue principle
• Allocating output (sales) so MR1 = MR2 which will maximize total revenue for the firm (TR1 + TR2) • More elastic market gets lower price • Less elastic market gets higher price
14-2
Managerial Economics
Capturing Consumer Surplus
• Uniform pricing
• Charging the same price for every unit of the product • More profitable alternative to uniform pricing • Market conditions must allow this practice to be profitably executed • Technique of charging different prices for the same product • Used to capture consumer surplus (turning consumer surplus into profit)
14-14
Managerial Economics
Block Pricing with Five Blocks
(Figure 14.5)
14-15
Managerial Economics
Third-Degree Price Discrimination
• If a firm sells in two markets, 1 & 2
Managerial Economics
Inverse Demand Curve for Each of 100 Identical Senior Golfers (Figure 14.3)
14-12
Managerial Economics
Demand at NorthvaleFra Baidu bibliotekGolf Club
14-17
Managerial Economics
Allocating Sales Between Markets
(Figure 14.6)
14-18
Managerial Economics
Constructing the Marginal Revenue Curve (Figure 14.7)
14-7
Managerial Economics
First-Degree (Perfect) Price Discrimination (Figure 14.2)
14-8
Managerial Economics
Second-Degree Price Discrimination
• Lower prices are offered for larger quantities and buyers can self-select the price by choosing how much to buy • When the same consumer buys more than one unit of a good or service at a time, the marginal value placed on additional units declines as more units are consumed
(Figure 14.4)
14-13
Managerial Economics
Second-Degree Price Discrimination
• Declining block pricing
• Offers quantity discounts over successive discrete blocks of quantities purchased
14-9
Managerial Economics
Second-Degree Price Discrimination
• Two-part pricing
• Charges buyers a fixed access charge (A) to purchase as many units as they wish for a constant fee (f) per unit
• When consumers have identical demands, entire consumer surplus can be captured by: • Setting f = MC • Setting A = consumer surplus (CS) • Optimal usage fee when two groups of buyers have identical demands is the level for which MRf = MCf
14-23
MRJ = MC
Managerial Economics
Profit-Maximizing Allocation of Production Facilities (Figure 14.9)
14-24
Managerial Economics
Profit-Maximization with Joint Products (Figure 14.11)
Multiple Products
• Related in production as complements
• To maximize profit, set joint marginal revenue equal to marginal cost:
• If profit-maximizing level of joint production exceeds output where MRJ kinks, units beyond zero MR are disposed of rather than sold • Profit-maximizing prices are found using demand functions for the two goods
14-19
Managerial Economics
Profit-Maximization Under Third-Degree Price Discrimination (Figure 14.8)
14-20
Managerial Economics
Multiple Products
• Related in consumption
• For two products, X & Y, produce & sell levels of output for which
MRX = MCX and MRY = MCY • MRX is a function not only of QX but also of QY (as is MRY) -- conditions
• Total expenditure (TE) for q units is:
TE A fq
Average price ( p) is:
TE A fq p q q
A f q
14-10
Managerial Economics
Second-Degree Price Discrimination
Managerial Economics
ninth edition
Thomas Maurice
Chapter 14
Advanced Pricing Techniques
McGraw-Hill/Irwin McGraw-Hill/Irwin Managerial Economics, 9e Managerial Economics, 9e
• Difficulties
• Requires precise knowledge about every buyer’s demand for the good • Seller must negotiate a different price for every unit sold to every buyer
Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.
Managerial Economics
Advanced Pricing Techniques
• Price discrimination • Multiple products • Cost-plus pricing
• Allocate output (sales) so MR1 = MR2 • Optimal total output is that for which
MRT = MC
• For profit-maximization, allocate sales of total output so that
PA PB MC A MCB
14-5
Managerial Economics
Price Discrimination
Three conditions necessary to practice price discrimination profitably:
1) Firm must possess some degree of market power 2) A cost-effective means of preventing resale between lower- and higher-price buyers (consumer arbitrage) must be implemented 3) Price elasticities must differ between individual buyers or groups of buyers
• Price discrimination
14-3
Managerial Economics
The Trouble with Uniform Pricing
(Figure 14.1)
14-4
Managerial Economics
Price Discrimination
• Exists when the price-to-marginal cost ratio differs between two products:
• Optimal level of facility usage in the long run is where MRPT = MC • For profit-maximization:
MRPX = MRPY
MRPT = MC = MRPX = MRPY
14-22
Managerial Economics
must be satisfied simultaneously
14-21
Managerial Economics
Multiple Products
• Related in production as substitutes • For two products, X & Y, allocate
production facility so that
14-25
Managerial Economics
Cost-Plus Pricing
14-6
Managerial Economics
First-Degree (Perfect) Price Discrimination
• Every unit is sold for the maximum price each consumer is willing to pay
• Allows the firm to capture entire consumer surplus
MRT = MC = MR1 = MR2
14-16
Managerial Economics
Third-Degree Price Discrimination
• Equal-marginal-revenue principle
• Allocating output (sales) so MR1 = MR2 which will maximize total revenue for the firm (TR1 + TR2) • More elastic market gets lower price • Less elastic market gets higher price
14-2
Managerial Economics
Capturing Consumer Surplus
• Uniform pricing
• Charging the same price for every unit of the product • More profitable alternative to uniform pricing • Market conditions must allow this practice to be profitably executed • Technique of charging different prices for the same product • Used to capture consumer surplus (turning consumer surplus into profit)
14-14
Managerial Economics
Block Pricing with Five Blocks
(Figure 14.5)
14-15
Managerial Economics
Third-Degree Price Discrimination
• If a firm sells in two markets, 1 & 2