曼昆微观经济学.pptx
《曼昆微观经济学.pptx》由会员分享,可在线阅读,更多相关《曼昆微观经济学.pptx(52页珍藏版)》请在咨信网上搜索。
1、13The Costs of Production Learning ObjectivesExamine what items are included in a firms costs of productionAnalyze the link between a firms production process and its total costsLearn the meaning of average total cost and marginal cost and how they are relatedConsider the shape of a typical firms co
2、st curvesExamine the relationship between short-run and long-run costsThe Market Forces of Supply and DemandSupply and demand are the two words that economists use most often.Supply and demand are the forces that make market economies work.Modern microeconomics is about supply,demand,and market equi
3、librium.WHAT ARE COSTS?According to the Law of Supply:Firms are willing to produce and sell a greater quantity of a good when the price of the good is high.This results in a supply curve that slopes upward.WHAT ARE COSTS?The Firms ObjectiveThe economic goal of the firm is to maximize profits.Total R
4、evenue,Total Cost,and ProfitTotal RevenueThe amount a firm receives for the sale of its output.Total CostThe market value of the inputs a firm uses in production.Total Revenue,Total Cost,and ProfitProfit is the firms total revenue minus its total cost.Profit=Total revenue Total costCosts as Opportun
5、ity CostsA firms cost of production includes all the opportunity costs of making its output of goods and services.Explicit and Implicit CostsA firms cost of production include explicit costs and implicit costs.ExplicitExplicit costs are input costs that require a direct outlay of money by the firm.I
6、mplicitImplicit costs are input costs that do not require an outlay of money by the firm.Economic Profit versus Accounting ProfitEconomists measure a firms economic profit as total revenue minus total cost,including both explicit and implicit costs.Accountants measure the accounting profit as the fi
7、rms total revenue minus only the firms explicit costs.Economic Profit versus Accounting ProfitWhen total revenue exceeds both explicit and implicit costs,the firm earns economic profit.Economic profit is smaller than accounting profit.Figure 1 Economic versus AccountantsCopyright 2004 South-WesternR
8、evenueTotalopportunitycostsHow an EconomistViews a FirmHow an AccountantViews a FirmRevenueEconomicprofitImplicitcostsExplicitcostsExplicitcostsAccountingprofitPRODUCTION AND COSTSThe Production FunctionThe production functionproduction function shows the relationship between quantity of inputs used
9、 to make a good and the quantity of output of that good.The Production Function Marginal ProductThe marginal productmarginal product of any input in the production process is the increase in output that arises from an additional unit of that input.The Production Function Diminishing Marginal Product
10、Diminishing marginal productDiminishing marginal product is the property whereby the marginal product of an input declines as the quantity of the input increases.Example:As more and more workers are hired at a firm,each additional worker contributes less and less to production because the firm has a
11、 limited amount of equipment.Figure 2 Hungry Helens Production FunctionCopyright 2004 South-WesternQuantity ofOutput(cookiesper hour)150140130120110100908070605040302010Number of Workers Hired012345Production functionThe Production Function Diminishing Marginal Product The slope of the production fu
12、nction measures the marginal product of an input,such as a worker.When the marginal product declines,the production function becomes flatter.From the Production Function to the Total-Cost CurveThe relationship between the quantity a firm can produce and its costs determines pricing decisions.The tot
13、al-cost curve shows this relationship graphically.Table 3 A Production Function and Total Cost:Hungry Helens Cookie FactoryCopyright2004 South-WesternFigure 3 Hungry Helens Total-Cost CurveCopyright 2004 South-WesternTotalCost$8070605040302010Quantityof Output(cookies per hour)01020 3015013011090705
14、0401401201008060Total-costcurveTHE VARIOUS MEASURES OF COSTCosts of production may be divided into fixed costs and variable costs.Fixed and Variable CostsFixed costs are those costs that do not vary with the quantity of output produced.Variable costs are those costs that do vary with the quantity of
15、 output produced.Fixed and Variable CostsTotal CostsTotal Fixed Costs(TFC)Total Variable Costs(TVC)Total Costs(TC)TC=TFC+TVCTable 4 The Various Measures of Cost:Thirsty Thelmas Lemonade StandCopyright2004 South-WesternFixed and Variable CostsAverage CostsAverage costs can be determined by dividing t
16、he firms costs by the quantity of output it produces.The average cost is the cost of each typical unit of product.Fixed and Variable CostsAverage CostsAverage Fixed Costs(AFC)Average Variable Costs(AVC)Average Total Costs(ATC)ATC=AFC+AVCAverage CostsTable 2 The Various Measures of Cost:Thirsty Thelm
17、as Lemonade StandCopyright2004 South-WesternFixed and Variable CostsMarginal CostMarginal costMarginal cost(MC)measures the increase in total cost that arises from an extra unit of production.Marginal cost helps answer the following question:How much does it cost to produce an additional unit of out
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 微观经济学
1、咨信平台为文档C2C交易模式,即用户上传的文档直接被用户下载,收益归上传人(含作者)所有;本站仅是提供信息存储空间和展示预览,仅对用户上传内容的表现方式做保护处理,对上载内容不做任何修改或编辑。所展示的作品文档包括内容和图片全部来源于网络用户和作者上传投稿,我们不确定上传用户享有完全著作权,根据《信息网络传播权保护条例》,如果侵犯了您的版权、权益或隐私,请联系我们,核实后会尽快下架及时删除,并可随时和客服了解处理情况,尊重保护知识产权我们共同努力。
2、文档的总页数、文档格式和文档大小以系统显示为准(内容中显示的页数不一定正确),网站客服只以系统显示的页数、文件格式、文档大小作为仲裁依据,平台无法对文档的真实性、完整性、权威性、准确性、专业性及其观点立场做任何保证或承诺,下载前须认真查看,确认无误后再购买,务必慎重购买;若有违法违纪将进行移交司法处理,若涉侵权平台将进行基本处罚并下架。
3、本站所有内容均由用户上传,付费前请自行鉴别,如您付费,意味着您已接受本站规则且自行承担风险,本站不进行额外附加服务,虚拟产品一经售出概不退款(未进行购买下载可退充值款),文档一经付费(服务费)、不意味着购买了该文档的版权,仅供个人/单位学习、研究之用,不得用于商业用途,未经授权,严禁复制、发行、汇编、翻译或者网络传播等,侵权必究。
4、如你看到网页展示的文档有www.zixin.com.cn水印,是因预览和防盗链等技术需要对页面进行转换压缩成图而已,我们并不对上传的文档进行任何编辑或修改,文档下载后都不会有水印标识(原文档上传前个别存留的除外),下载后原文更清晰;试题试卷类文档,如果标题没有明确说明有答案则都视为没有答案,请知晓;PPT和DOC文档可被视为“模板”,允许上传人保留章节、目录结构的情况下删减部份的内容;PDF文档不管是原文档转换或图片扫描而得,本站不作要求视为允许,下载前自行私信或留言给上传者【可****】。
5、本文档所展示的图片、画像、字体、音乐的版权可能需版权方额外授权,请谨慎使用;网站提供的党政主题相关内容(国旗、国徽、党徽--等)目的在于配合国家政策宣传,仅限个人学习分享使用,禁止用于任何广告和商用目的。
6、文档遇到问题,请及时私信或留言给本站上传会员【可****】,需本站解决可联系【 微信客服】、【 QQ客服】,若有其他问题请点击或扫码反馈【 服务填表】;文档侵犯商业秘密、侵犯著作权、侵犯人身权等,请点击“【 版权申诉】”(推荐),意见反馈和侵权处理邮箱:1219186828@qq.com;也可以拔打客服电话:4008-655-100;投诉/维权电话:4009-655-100。