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Consumers, Producers, and the Efficiency of Markets消费者、生产者和市场效率 Chapter 7 Revisiting the Market Equilibrium Do the equilibrium price and quantity maximize the total welfare of buyers and sellers?均衡价格和数量使得买者和卖者的福利最大化了吗? Market equilibrium reflects the way markets allocate scarce resources. 市场均衡反映了市场分配稀缺资源的方式。 Whether the market allocation is desirable is determined by welfare economics. 市场分配是否合意是福利经济学的研究范畴 Welfare Economics福利经济学 Welfare economics is the study of how the allocation of resources affects economic well-being.福利经济学研究资源的分配如何影响经济福利。 Buyers and sellers receive benefits from taking part in the market. 买卖双方从参加市场活动中获得收益。 The equilibrium in a market maximizes the total welfare of buyers and sellers. 市场的均衡最大化了买卖双方的总福利。 Welfare Economics福利经济学 Equilibrium in the market results in maximum benefits, and therefore maximum total welfare for both the consumers and the producers of the product. 市场均衡使得收益最大化,因此使得某个产品的消费者和生产者的总福利最大化。 Consumer surplus measures economic welfare from the buyer’s side. 消费者剩余测度买者的经济福利 Producer surplus measures economic welfare from the seller’s side. 生产者剩余测度买者的经济福利 Consumer Surplus消费者剩余 Willingness to pay is the maximum price that a buyer is willing and able to pay for a good. 支付意愿指一个消费者为了购买某个商品愿意且能够支付的最高价格。 It measures how much the buyer values the good or service. 它测度买者对某个商品或服务的评价的高低。 Consumer surplus is the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it. 消费者剩余指买者的支付意愿减去他/她实际支付的金额。 Four Possible Buyers’ Willingness to Pay... Who will get the book? What is the consumer surplus? What about two textbooks? Four Possible Buyers’ Willingness to Pay... The market demand curve depicts the various quantities that buyers would be willing and able to purchase at different prices. 市场需求曲线描述了在不同的价格下买者愿意且能够购买的某商品的数量 Because the demand curve reflects buyers’ willingness to pay, we can also use it to measure consumer surplus. 因为需求曲线反映了买者的支付意愿,所以我们可以用来测度消费者剩余。 The area below the demand curve and above the p
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