中级微观经济学——理论与应用（第10版）（经济学经典教材·双语教学用书）尼克尔森等著0324319681_67674上课用课件.ppt

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中级微观经济学——理论与应用（第10版）（经济学经典教材·双语教学用书）尼克尔森等著0324319681_67674上课用课件.ppt

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Chapter 12 General Equilibrium and Welfare An Illustration of General Equilibrium Figure 12-1 shows the market for tomatoes and three of the many other market related to it: The market for tomato pickers. The market for a related product --cucumbers. The market for cucumber pickers. The initial equilibrium is shown by the darker demand and supply curves. FIGURE 12-1: The Market for Tomatoes and Several Related Markets An Illustration of General Equilibrium The initial set of equilibrium prices are: P1 for tomatoes. W1 for tomato pickers. P2 for cucumbers. W2 for cucumber pickers. Since the markets are in general equilibrium, this will persist unless something happens to change it. Disturbing the Equilibrium Assume the government announces that tomatoes cure the common cold, resulting in an increase in demand. Initially, this would shift the demand curve for tomatoes outward to D’. The increase in tomatoes prices brought about by the increase in demand stimulates the demand for more tomato pickers which shifts outward to D’. Disturbing the Equilibrium The higher wages for tomato pickers increases the costs for tomato growers, shifting the tomato supply curve back to S’. If the demand for cucumbers decreased because of the increase in demand for tomatoes. This decreases the price of cucumbers and leads to less produced. The demand for cucumber pickers falls, and their wages also decrease. FIGURE 12-1: The Market for Tomatoes and Several Related Markets Reestablishing Equilibrium Eventually we would expect each market to eventually reach a new equilibrium. The new equilibrium in Figure 12-1 is shown by the lighter colored demand and supply curves. There is a rise in tomato prices (to P3), an increase in tomato picker wages (to w3), a fall in cucumber prices (to P4), and a fall in cucumber picker wages (to w4). FIGURE 12-1: The Market for Tomatoes and Several Related Markets An Efficient Mix of Outputs A technically efficient allocation of resources in which the outpu