经济学原理·萨缪尔森--中山大学岭南学院ch9.ppt

CH9. Imperfect Competition and Monopoly A. Patterns of Imperfect Competition Imperfect Competition: Individual sellers have some measure of control over the price of their output. Acid Test for Imperfect Competition Is Downward Tilt of Firm’s Demand Curve Monopoly(垄断) A single seller with complete control over an industry. Oligopoly（寡头） Several sellers Each seller can affect the market price. Monopolistic Competition（垄断竞争） A large number of sellers produce differentiated products. Because firms sell slightly different products, they can sell at slightly different prices. Sources of Market Imperfect There are economies of large scale production and decreasing costs. There are “barriers to entry”.（进入壁垒） Costs and Market Imperfection The key is whether there are economies of scale in the industry. Natural Monopoly（自然垄断） The firm has average and marginal costs that fall forever. Market Structure Depends on Relative Cost and Demand Factors Barriers to Entry legal restrictions high cost of entry advertising and product differentiation B. marginal revenue and monopoly Total revenue(TR) Average revenue(AR): AR=P Marginal Revenue(MR): the change in revenue that generated by an additional unit of sale. MR can be either positive or negative. Negative MR :In order to sell additional units, the firm must decrease its price so much that its total revenue decline. PMR MR=P-reduced revenue on all previous Marginal Revenue Curve Comes from Demand Curve The Relationship of Elasticity and Marginal Revenue If demand is elastic, MR0 If demand is unit elastic, MR=0 if demand is inelastic, MR0 Profit-Maximizing Conditions MR=MC Perfect Competition as a Polar Case of Imperfect Competition P=MR=MC A perfect competitor’s dd curve and its MR curve coincide as horizontal lines. Profit-Maximizing Equilibrium Can Be Shown Using Either Total or Marginal Curves Marginal Principle Make decisions based on marginal cost and marginal revenue ignore past o