完全竞争市场上的供给.pdf

Firms in Competitive Markets Supply Curve • Short run: market supply with a fixed number of firms • Short run: number of firms is fixed • Each firm supplies quantity where P = MC • For P  AVC: supply curve is MC curve • Market supply • Add up quantity supplied by each firm Short‐Run Market Supply (a) Individual firm supply (b) Market supply Price Price MC Supply $2.00 $2.00 1.00 1.00 0 100 200 Quantity 0 100,000 200,000 Quantity (firm) (market) © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Supply Curve • Long run • Firms can enter and exit the market • If P  ATC, firms make positive profit • New firms enter the market • If P  ATC, firms make negative profit • Firms exit the market Supply Curve • Long run • Process of entry and exit ends when • Firms still in market make zero economic profit (P = ATC) • Because MC = ATC: Efficient scale • Long run supply curve is perfectly elastic • Horizontal at minimum ATC Long‐Run Market Supply (a) Firm’s Zero-Profit Condition (b) Market supply Price Pric