[经济学]chapter_3A 生产与成本理论.pdfVIP

Chapter 3 Production and Cost Function 1 Chapter Four includes: n 3.1 Production Function n 3.2 Cost Function 2 Outline of Today s Class Definition of Product Function The Short Run and Long Run TP,AP and MP, Diminishing MP The Three Stages of Production 3 Readings about the part of this chapter n Zhang: Chapter 5 n Nicholson: Chapter 11, P267-294 4 5 Symmetry Between Consumer and Firm Theory （消费者理论和生产者理论的对称关系） n Use similar tools from consumer theory to analyse the firm. In general: Consumer Firm Maximizing utility Max (Min) profits (cost) Subject to Subject to Budget constraint(s) Technology (output) constraint(s) Demand functions” for Demand functions” for goods inputs Parallel concepts 6 Production Technology(生产技术): Introduction n Production Technology n Process by which inputs are converted to outputs n Inputs also called “factors of production”(生产要素) n Input 1）: Labor (L) (skilled, unskilled) n Input 2）: Physical capital (K) 有形资本） (equipment, structures, inventories 存货）, land, intangibles(无形资本)) n Main issue: Which technology is best?