生产者理论1剖析.pptVIP

* * * * * * * * Pick a technically efficient input vector Keep all but one input constant  Q= G(z) Measure change in output w.r.t. this input ?G(z) ?zi ____ MPi = Gi(z) = Marginal products z1 Q G(z) z1 Q G(z) z1 Q G(z) possible relationships between output and one input z1 Q G(z) Lets take the conventional case… feasible set G(z) Q z 1 input 1 is essential Set of technically efficient points Take the relationship between output and input 1... If z1=0 then Q=0 z 1 Q G(z) G1 falls with z1 if G is concave Marginal product slope = G1(z) Technical efficiency Thats for next time... Returns to scale Convexity MRTS Marginal product All of these are important in the firms optimisation problem Key concepts * * * * * * * * * * * * * * * * * * * * * * * * * * * 李永波 The Firm: Production Advanced MicroEconomics In this lecture we set out some of the elements needed for an analysis of the firm Technical efficiency Returns to scale Convexity Substitutability Marginal products ...and (for next time) assuming a competitive environment. We do it within the context of a single-output firm... But first we need the building blocks of a model... The basics of production... z i amount of input i Q amount of output The basics of production... input vector z := (z1 ,z2 ,...,zm) w i price of input i w := (w1 ,w2 ,...,wm) input price vector P price of output Notation: Prices Q ￡ G(z1, z2, ...., zm ) The single-output production function Written more compactly Q ￡ G(z) technology output Yes, but why not = sign here? inputs The meaning of the function the maximum amount of output that can be produced from this list of inputs Use this relation to distinguish two cases... Components of the relationship Q G(z) Q = G(z) 2 1 The case where production is technically efficient The case where production is (technically) inefficient Technical efficiency ?G(z) ?zi ____ i G (z) := where differentiable Some handy notation... z 2 Q z 1 0 G(z , z ) 1 2 outp