北大微观经济学课件(英文版)ch16 Equilibrium.pptVIP

中级微观经济学 Chapter Sixteen Equilibrium 均衡 Structure Market equilibrium Quantity tax and equilibrium Tax incidence （税收分担） Deadweight loss （额外净损失） Market Equilibrium A market is in equilibrium when total quantity demanded by buyers equals total quantity supplied by sellers. Also called “market is cleared” Supply may not equal production Market Equilibrium Market Setting Competitive market Contestable market Market Equilibrium Market Equilibrium Market Equilibrium Market Equilibrium Market Equilibrium Market Equilibrium – Linear D S Market Equilibrium Market Equilibrium Can we calculate the market equilibrium using the inverse market demand and supply curves? Yes, it is the same calculation. Market Equilibrium Market Equilibrium Market Equilibrium Market Equilibrium Market Equilibrium Two special cases: quantity supplied is fixed, independent of the market price, and quantity supplied is extremely sensitive to the market price. Market Equilibrium Market Equilibrium Market Equilibrium Market Equilibrium Market Equilibrium Market Equilibrium Market Equilibrium Comparative Statics Shifting demand curves Income Price of other products Shifting supply curves Technology Taxes Quantity Taxes A quantity tax levied at a rate of $t is a tax of $t paid on each unit traded. If the tax is levied on sellers then it is an excise tax. If the tax is levied on buyers then it is a sales tax. Quantity Taxes What is the effect of a quantity tax on a market’s equilibrium? How are prices affected? How is the quantity traded affected? Who pays the tax? How are gains-to-trade altered? Quantity Taxes A tax rate t makes the price paid by buyers, pb, higher by t from the price received by sellers, ps. Quantity Taxes Even with a tax the market must clear. I.e. quantity demanded by buyers at price pb must equal quantity supplied by sellers at price ps. Quantity Taxes Quantity Taxes Market Equilibrium Quantity Taxes Market Equilibrium Quantity Taxes Market Equilibrium Quantity Taxes Market Equil