TheAnalysisofCompetitiveMarkets概述.pptVIP

75 76 80 77 78 81 84 85 83 86 86 88 88 * * * * * 123 124 1 27 28 30 30 31 34 37 38 43 44 45 46 47 48 49 52 55 56 59 60 61 62 63 66 66 68 69 69 71 71 73 74 Chapter 9 Slide * 小麦的支持价格Supporting the Price of Wheat 问题Question: 生产者和消费者剩余的变化是多少? What is the change in consumer and producer surplus? Chapter 9 Slide * 小麦的支持价格Supporting the Price of Wheat 1996年的”农民自由” 1996 Freedom to Farm 减少价格支持和配额直到2003年,国会再次通过后1996年法案重新生效. Reduces price supports and quotas until 2003 when they go back into effect under the 1996 law. Chapter 9 Slide * 小麦的支持价格Supporting the Price of Wheat 1998年的小麦市场 1998 Wheat Market P = $2.65 QD = 3244 - 283P QS = 1944 + 207P Q = 2493 政府补贴Government subsidy of .66/bushel or $1.6 billion EXAMPLE 9.5 WHY CAN’T I FIND A TAXI? The city of New York limits the number of taxis by requiring each taxi to have a medallion (essentially a permit), and then limiting the number of medallions. In 2011 there were 13,150 medallions in New York—roughly the same number as in 1937. Why not just issue more medallions? The reason is simple. Doing so would incur the wrath of the current owners of medallions. Medallions can be bought and sold by the companies that own them. In 1937, there were plenty of medallions to go around, so they had little value. By 1947, the value of a medallion had increased to $2,500, by 1980 to $55,000, and by 2011 to $880,000. That’s right—because New York City won’t issue more medallions, the value of a taxi medallion is approaching $1 million! But of course that value would drop sharply if the city starting issuing more medallions. So the New York taxi companies that collectively own the 13,150 available medallions have done everything possible to prevent the city from issuing any more—and have succeeded in their efforts. If the city were to issue another 7,000 medallions for a total of about 20,000, demand and supply would equilibrate at a price of about $350,000 per medallion– still a lot, but just enough to lease cabs, run a taxi business,