[经济学]ch15.ppt

Chapter Fifteen Market Demand 市场需求 Structure From Individual to Market Demand Functions Elasticities Revenue and own-price elasticity of demand Marginal revenue and price elasticity From Individual to Market Demand Functions Think of an economy containing n consumers, denoted by i = 1, … ,n. Consumer i’s ordinary demand function for commodity j is From Individual to Market Demand Functions When all consumers are price-takers, the market demand function for commodity j is If all consumers are identical then where M = nm. From Individual to Market Demand Functions The market demand curve is the “horizontal sum” of the individual consumers’ demand curves. E.g. suppose there are only two consumers; i = A,B. From Individual to Market Demand Functions From Individual to Market Demand Functions From Individual to Market Demand Functions From Individual to Market Demand Functions Elasticities （弹性） Elasticity measures the “sensitivity” of one variable with respect to another. The elasticity of variable X with respect to variable Y is Economic Applications of Elasticity Economists use elasticities to measure the sensitivity of quantity demanded of commodity i with respect to the price of commodity i (own-price elasticity of demand，需求的自价格弹性) demand for commodity i with respect to the price of commodity j (cross-price elasticity of demand，需求的交叉价格弹性). Economic Applications of Elasticity demand for commodity i with respect to income (income elasticity of demand 需求的收入弹性) quantity supplied of commodity i with respect to the price of commodity i (own-price elasticity of supply 供给的自价格弹性) Economic Applications of Elasticity quantity supplied of commodity i with respect to the wage rate (elasticity of supply with respect to the price of labor) and many, many others. Own-Price Elasticity of Demand Point Own-Price Elasticity Point Own-Price Elasticity Point Own-Price Elasticity Point Own-Price Elasticity Point Own-Price Elasticity Point Own-Price Elasticity Point Own-Price Elast