Chap16Oligopoly(曼昆经济学原理,微观-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?
微观经济学原理(第七版)-曼昆-名词解释(带英文)
微观经济学原理曼昆名词解释稀缺性(scarcity）：社会资源的有限性。
经济学（economics）：研究社会如何管理自己的稀缺资源。
效率（efficiency)：社会能从其稀缺资源中得到最多东西的特性。
平等（equality）：经济成果在社会成员中公平分配的特性。
机会成本（opportunity cost）：为了得到某种东西所必须放弃的东西。
理性人（rational people）：系统而有目的地尽最大努力实现起目标的人。
边际变动(marginal change):对行动计划微小的增量调整。
激励(incentive)：引起一个人做出某种行为的某种东西。
市场经济（market economy）：当许多企业和家庭在物品与劳务市场上相互交易时，通过他们的分散决策配置资源的经济。
产权（property rights)：个人拥有并控制稀缺资源的能力。
市场失灵（market failure）:市场本身不能有效配置资源的情况。
外部性(externality）：一个人的行为对旁观者福利的影响。
市场势力（market power)：一个经济活动者（或经济活动者的一个小集团)对市场价格有显著影响的能力。
生产率（productivity）：一个工人一小时所生产的物品与劳务量.通货膨胀（inflation)：经济中物价总水平的上升。
经济周期（business cycle)：就业和生产等经济活动的波动（就是生产这类经济活动的波动。
)循环流向图(circular-flow diagram）：一个说明货币如何通过市场在家庭与企业之间流动的直观经济模型。
生产可能性边界（production possibilities frontier）：表示一个经济在可得到的生产要素与生产技术既定时所能生产的产量的各种组合的图形.微观经济学（microeconomics）：研究家庭和企业如何做出决策，以及它们在市场上的相互交易.宏观经济学(macroeconomics）：研究整体经济现象，包括通货膨胀、失业和经济增长。
微观经济学原理曼昆英文
Principle #1: People Face Tradeoffs
▪ Society faces an important tradeoff:
efficiency vs. equality
▪ Efficiency: when society gets the most from its
scarce resources
how much to work, save, and spend
▪ how firms decide how much to produce,
how many workers to hire
▪ how society decides how to divide its resources
between national defense, consumer goods, protecting the environment, and other needs
7
HOW PEOPLE MAKE DECISIONS
Principle #3: Rational People Think at the Margin
▪ Equality: when prosperity is distributed uniformly
among society’s members
▪ Tradeoff: To achieve greater equality,
could redistribute income from wealthy to poor. But this reduces incentive to work and produce, shrinks the size of the economic “pie.”
chapter_16 General Equilibrium and Economic Efficiency 平狄克微观英文版课件
Chapter 1
Slide 7
Two Interdependent Markets: Movie Tickets and Videocassette Rentals
Price
Assume the government imposes a $1 tax on each movie ticket.
S*M
QV Q’V
DV
Number of Videos
Two Interdependent Markets: Movie Tickets and Videocassette Rentals
Price
$6.82 $6.75 $6.35
$6.00
The increase in the price of videos increases the
Chapter 1
Slide 20
Efficiency in Exchange
10F
6C
James’s Clothing
A: UJ1 = UK1, but the MRS is not equal. All combinations in the shaded
area are preferred to A.
Chapter 1
Slide 16
The Advantage of Trade
Individual Initial Allocation Trade Final Allocation
James 7F, 1C -1F, +1C 6F, 2C
Karen 3F, 5C +1F, -1C 4F, 4C
Karen’s MRS of food for clothing is 3. James’s MRS of food for clothing is 1/2. Karen and James are willing to trade: Karen trades 1C for 1F. When the MRS is not equal, there is gain from trade. The economically efficient allocation occurs when the MRS is equal.
曼昆经济学原理英文书
曼昆经济学原理英文书The Economics Principles by MankiwChapter 1: Ten Principles of EconomicsChapter 2: Thinking Like an EconomistChapter 3: Interdependence and the Gains from Trade Chapter 4: The Market Forces of Supply and Demand Chapter 5: Elasticity and Its ApplicationChapter 6: Supply, Demand, and Government Policies Chapter 7: Consumers, Producers, and Efficiency of Markets Chapter 8: Application: The Costs of TaxationChapter 9: Application: International TradeChapter 10: ExternalitiesChapter 11: Public Goods and Common Resources Chapter 12: The Design of the Tax SystemChapter 13: The Costs of ProductionChapter 14: Firms in Competitive MarketsChapter 15: MonopolyChapter 16: Monopolistic CompetitionChapter 17: OligopolyChapter 18: The Markets for Factors of Production Chapter 19: Earnings and DiscriminationChapter 20: Income Inequality and PovertyChapter 21: Introduction to MacroeconomicsChapter 22: Measuring a Nation's IncomeChapter 23: Measuring the Cost of LivingChapter 24: Production and GrowthChapter 25: Saving, Investment, and the Financial System Chapter 26: The Basic Tools of FinanceChapter 27: UnemploymentChapter 28: The Monetary SystemChapter 29: Money Growth and InflationChapter 30: Open-Economy Macroeconomics: Basic Concepts Chapter 31: A Macroeconomic Theory of the Open Economy Chapter 32: Aggregate Demand and Aggregate SupplyChapter 33: The Influence of Monetary and Fiscal Policy on Aggregate DemandChapter 34: The Short-Run Trade-Off between Inflation and UnemploymentChapter 35: The Theory of Consumer ChoiceChapter 36: Frontiers of MicroeconomicsChapter 37: Monopoly and Antitrust PolicyChapter 38: Oligopoly and Game TheoryChapter 39: Externalities, Public Goods, and Environmental Policy Chapter 40: Uncertainty and InformationChapter 41: Aggregate Demand and Aggregate Supply Analysis Chapter 42: Understanding Business CyclesChapter 43: Fiscal PolicyChapter 44: Money, Banking, and Central BankingChapter 45: Monetary PolicyChapter 46: Inflation, Disinflation, and DeflationChapter 47: Exchange Rates and the International Financial SystemChapter 48: The Short - Run Trade - Off between Inflation and Unemployment RevisitedChapter 49: Macroeconomic Policy: Challenges in the Twenty - First CenturyEpilogue: 14 Big IdeasNote: The chapter titles have been abbreviated for simplicity and brevity purposes.。
曼昆微观经济学经济学十大原理 英文版
人们如何作出决策？ What are the principles of
how people make decisions?
人们如何相互影响？What are the principles of how
people interact?
整体经济如何运行？What are the principles of how
目的） do the best they can to achieve their objectives.（理性人系统而有目的地尽最大努力去实现 其目标；利益最大化）
make decisions by evaluating costs and benefits of
marginal changes – incremental adjustments to an existing plan. 边际变动—对当前行动计划微小的增量调整。
Going to a party the night before your midterm leaves
less time for studying. 聚会 v. 备考 （时间资源决策）
Having more money to buy stuff requires working longer
梁砾译，北京大学出版社
参考书：《经济学原理学习指南》，大卫· 哈克斯著，梁小
民译，北京大学出版社；《曼昆<经济学原理（微观经济学 分册）>笔记和课后习题（含考研真题）详解》，圣才考研 网主编，中国石化出版社
课外阅读：《经济学的思维方式》，保罗· 海恩著，马昕译，
世界图书出版公司 or 机械工业出版社 （13版）
边际是高等数学微分的概念；理性人决策：边际收益>边际成
Chap_16Oligopoly(曼昆微观经济学-江西财大,王秋石)(英文版)
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 chotition, 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.
Game Theory and the Economics of Cooperation
Game theory is the study of how
people behave in strategic situations. Strategic decisions are those in which each person, in deciding what actions to take, must consider how others might respond to that action.
A Duopoly Example: Demand Schedule for Water
Quantity 0 10 20 30 40 50 60 70 80 90 100 110 120 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
微观经济学原理(第七版)-曼昆-名词解释(带英文)
微观经济学原理曼昆名词解释1.需求价格弹性(price elasticity of demand)：2.蛛网模型（）：对于生产周期较长的商品供给的时滞性，需求的不是动态模型分类，画图3.|4.边际效用递减（diminishing marginal utility）——基数效用论不违反边际效用递减规律。
因为边际效用是指物品的消费量每增加(或减少)一个单位所增加(或减少)的总效用的量。
这里的“单位”是指一完整的商品单位，这种完整的商品单位，是边际效用递减规律有效性的前提。
比如，这个定律适用于一双的鞋子，但不适用于单只的鞋子。
对于四轮车而言，必须是有四个轮子的车才成为一单位。
三个轮子不能构成一辆四轮车，因而每个轮子都不是一个有效用的物品，增加一个轮子，才能使车子有用。
因此，不能说第四个轮子的边际效用超过第三个轮子（2）特征：凸向原点越远越大不相交6.边际替代率(marginal rate of ：——序数效用论7.预算线（Budget line/ budget constraint）8.吉芬物品(Giffen good)：价格上升引起需求量增加的物品。
9.柯布道格拉斯生产函数稀缺性（scarcity）：社会资源的有限性。
\经济学(economics)：研究社会如何管理自己的稀缺资源。
效率(efficiency)：社会能从其稀缺资源中得到最多东西的特性。
平等(equality)：经济成果在社会成员中公平分配的特性。
机会成本(opportunity cost)：为了得到某种东西所必须放弃的东西。
理性人(rational people)：系统而有目的地尽最大努力实现起目标的人。
【边际变动(marginal change)：对行动计划微小的增量调整。
激励(incentive)：引起一个人做出某种行为的某种东西。
市场经济(market economy)：当许多企业和家庭在物品与劳务市场上相互交易时，通过他们的分散决策配置资源的经济。
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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.
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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.
Monopolistic Competition
Many
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The Four Types of Market Structure
Number of Firms?
Many firms One firm Few firms
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Competition, Monopolies, and Cartels
The duopolists may agree on a
monopoly outcome.
Collusion
The
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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
• Wheat
• Cable TV
• Crude oil
• Movies
• Milk
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Markets With Only a Few Sellers
Because of the few sellers, the key feature of oligopoly is the tension between cooperation and self-interest.
A Duopoly Example: Demand Schedule for Water
Quantity 0 10 20 30 40 50 60 70 80 90 100 110 120 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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A Duopoly Example: Price and Quantity Supplied
The price of water in a perfectly competitive
market would be driven to where the marginal cost is zero: P = MC = $0 Q = 120 gallons The price and quantity in a monopoly market would be where total profit is maximized: P = $60 Q = 60 gallons
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Summary of Equilibrium for an Oligopoly
Possible
Joint
outcome if oligopoly firms pursue their own self-interests:
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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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The Equilibrium for an Oligopoly
The oligopoly price is less than the monopoly price but greater than the competitive price (which equals marginal cost).
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A Duopoly Example
A duopoly is an oligopoly with only two members. It is the simplest type of oligopoly.
Type of Products?
Differentiated products
Monopolistic Competition
Identical products
Perfect Competition
Monopoly
Oligopoly
• Tap water
• Tennis balls
• Novels
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Oligopoly
Chapter 16
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Imperfect Competition
Imperfect competition refers to those market structureቤተ መጻሕፍቲ ባይዱ that fall between perfect competition and pure monopoly.
Copyright © 2001 by Harcourt, Inc. All rights reserved
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.
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.
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Types of Imperfectly Competitive Markets
Oligopoly
Only
a few sellers, each offering a similar or identical product to the others. firms selling products that are similar but not identical.
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