微观经济学Chapter051.pptVIP

Part 2 Consumers, Producers, and Competitive Markets Chapter 2: Consumer Behavior Chapter 3: Production Chapter 4: Supply and Demand Chapter 5: The Efficiency Analysis of Competitive Markets Chapter 5 Market Efficiency Market Surplus: Difference between willingness prices of buyers and sellers when they make exchange. Measure of the Efficiency of Markets: The extent that a market has achieved for maximizing its surplus. Factors that affect the market efficiency: government policy and market failure Competitive Market A perfectly competitive market has many buyers and sellers, so that no single buyer or seller has a significant impact on price. Buyers and sellers are all price-takers. When we speak of supply and demand of a market, we are referring to a competitive market. Buyer Surplus Individual Buyer Surplus is the difference between his willingness price and the actual price. Aggregate Buyer Surplus of a Market is the total surplus that buyers obtain from purchasing a good in the market. Buyer Surplus is usually called consumer surplus in economics. Willingness Price, Actual Price and Buyer Surplus Willingness Price, Actual Price and Buyer Surplus Willingness Price, Actual Price and Buyer Surplus Willingness Price, Actual Price and Buyer Surplus Willingness Price, Actual Price and Buyer Surplus Willingness Price, Actual Price and Buyer Surplus Willingness Price, Actual Price and Buyer Surplus Seller Surplus Individual Seller Surplus is the difference between the actual price and his willingness price. Aggregate Seller Surplus of a Market is the total surplus that sellers obtain from buying a good in the market. Seller Surplus is usually called producer surplus in economics.. Willingness Price, Actual Price and Seller Surplus Willingness Price, Actual Price and Seller Surplus Willingness Price, Actual Price and Seller Surplus Willingness Price, Actual Price and Seller Surplus Willingness Price, Actual Price and Seller Surplus Willingness Price, Actua