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TheEconomicWayofThinkingthEdition.ppt

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TheEconomicWayofThinkingthEdition

“The Economic Way of Thinking12th Edition Chapter 6: Unintended consequences: More Applications of Supply and Demand Chapter Outline The Urge to Fix Prices Competition When Prices Are Fixed Appropriate and Inappropriate Signals Looking for an Apartment in the City? Read the Obituary Supports and Surpluses Supply, Demand and the Minimum Wage Who Pays the Tax? High-Priced Sports, Low-Priced Poetry: Who’s to Blame? Chapter Outline Do Costs Determine Prices? “There’s Gold in Them That Hills!” So What? Why Does it Cost so Much to Change Bedpans? More Please, Since It’s Free Costs and Ownership Appendix: Framing Economic Questions Correctly Introduction The economic way of thinking is at work regardless of economists’ actions. Economists have simply uncovered the principles with respect to people’s choices, and the consequences of their choices.（经济学家关注的是人们的选择以及这些选择的结果，并要发现在其背后起作用的原理。） Economists help us understand how individuals are able to coordinate their production, consumption, and exchange decisions through cooperative and competitive activities in the marketplace.（经济学能帮助我们理解个人们怎样在市场上通过竞争与合作协调他们的生产、消费和交易决策。) Introduction The Urge to Fix Prices! In 2004 the price of gasoline in the USA was, at certain times, $2.00 per gallon. What if a price control had been legislated at $1.00 per gallon? Price ceiling! Quantity demanded would have risen; and inventories would have been depleted. Also, suppliers would have decreased output. A shortage (quantity demanded minus quantity supplied) would have occurred. The Urge to Fix Prices! The Urge to Fix Prices! 市场在每加仑2美元时出清。价格上限设定在每加仑1美元。需求量上升到每天150万加仑，而供给量下降到每天50万加仑。价格管制的无意结果就是每天短缺100万加仑汽油。 Competition When Prices Are Fixed 在自由市场中，短缺的时候价格会上涨，市场会出清，这都是无意的结果。但是，设定价格上限会导致另外的无意结果：汽油的持续短缺。相关市场价格能传递关于某种商品相对稀缺性的重要信息。1美元的法定价格上限使汽油看起来不如每加仑2美元时稀缺，但事实上并不是那么回事。 When there is a ceiling price (fixed price) and a persistent shortage, the non-monetary costs of purchasing will increase. Competition When Prices Are Fixed 既然不让多收钱，也不让多给钱，人们会怎