經(jīng)原學習重難點

Chapter3basicelementsofsupplyanddemand

Theoryofsupplyanddemand

Showshowconsumerpreferences（偏好）determineconsumerdemandforcommodities,while

businesscostsarethefoundationofthesupplyofcommodities.（商品）

Competitive（競爭的）equilibrium（均衡）

Thedemandcurvesandthesupplycurvesintersect（交叉）一theforcesofdemandandsupplyare

justinbalance.

DEMAND

Thedemandschedule（thedemandcurve）

Therelationshipbetweenpriceandquantitybought.

Demandcurve

Thegraphical（圖示的）representationofthedemandschedule

Lawofdownward-slopingdemand需求向下傾斜規(guī)律

Whenthepriceofacommodityisraised（andotherthingsareheldconstant）,buyerstendtobuy

lessofthecommodity.

Substitutioneffect

Whenthepriceofagoodrises,peoplewillsubstituteothersimilargoodsfbrit.

Incomeeffect

Whenapricegoesup,peoplefindthemselvessomewhatpoorerthantheywerebefore.Theyhave

ineffectlessrealincome.

Marketdemand

Representsthesumtotalofallindividualdemands

Aarrayoffactorsthatinfluenceshowmuchwillbedemandedatagivenprice-determinesthe

marketdemand:

1.Objectiveelements:

1.1Averagelevelsofincome:peopletendtobuymoreofalmosteverythingwhentheirincomes

rise,evenifpricesdon'tchange.

1.2Sizeofthemarket:measuredbypopulation,10peopletendtobuymorethan1people.

1.3Thepricesandavailabilityofrelatedgoods:demandforoiltendstobelowifthepriceof

naturalgasislow.（substituteproduct）

2.Subjective（主觀的）elements:

2.1Tastes

2.2Preferences

3.Specialinfluences:thedemandforumbrellasishighinrainycitybutlowinsunnycity.

Expectationsaboutfutureeconomicconditions,particularlyprices

SUPPLY

Thesupplyschedule（orsupplycurve）foracommodity

Showstherelationshipbetweenitsmarketpriceandtheamountofthatcommoditythatproducers

arewillingtoproduceandsell,otherthingsheldconstant.

Elementsthataffectthesupplycurve:

1.Costofproduction

Onemajorelementunderlyingthesupplycurve,whichisprimarilydeterminedbythepricesof

inputsandtechnologicaladvances

2.Thepricesofrelatedgoods

3.Governmentpolicy

4.Specialinfluences（weatherinfluencesfarming.

Shiftsinsupply

?Whenpriceofagoodchanges,producerschangetheirproductionandquantity

supplied—movealongthecurve,butthesupplyandthesupplycurvedonotshift.

?Whenotherinfluencesaffectingsupplychange,supplychangesandthesupplycurvesshifts.

Supplyincreases（ordecreases）whentheamountsuppliedincreases（ordecreases）ateachmarket

price.

EQUILIBRIUMOFSUPPLYANDDEMAND

Marketequilibrium

Comesatthatpriceandquantitywheretheforcesofsupplyanddemandareinbalance.

Theequilibriumpriceisalsocalledthemarket-clearingprice（市場出清價格）

Therearenoshortagesorsurpluses（乘馀）attheequilibriumprice.

Whatthemarketmechanism（結(jié)構(gòu)）accomplishes（實現(xiàn)）一rationing（限量）byprices（rationing

bythepurse）

Whatgoodsareproduced?

Forwhomaregoodsproduced?

Howtoproduce?

WORDS

Individualcommodities單個商品

Marketmechanism市場機制

PARTTWOMICROECONOMICS:

SUPPLY,DEMAND,ANDPRODUCTMARKETS

Chapter4applicationsofsupplyanddemand

ELASTICITYOFDEMANDANDSUPPLY

§1.Priceelasticityofdemand(priceelasticity)

Measureshowmuchthequantitydemandedofagoodchangeswhenitspricechanges.

Thepercentagechangeinquantitydemandeddividedbythepercentagechangeinprice

ElasticityFactor1Factor2Factor3

ElasticLuxuriesHavesubstitutesHavemoretimetoadjust

InelasticNecessitiesHavenosubstitutesHavelesstimetoadjust

*factor3:thelengthoftimethatpeoplehaverespondtopricechanges

Plus:

4.支出占消費者收入比重小的商品需求價格彈性?。徽急戎卮蟮纳唐沸枨髢r格彈性大。

5.數(shù)量越大，價格越低的商品價格彈性??；數(shù)量越小，價格越高的商品價格彈性大。

Calculatingelasticities

Priceelasticityofdemand=

En=percentagechangeinquantitydemanded/percentagechangeinprice

?Price-elasticdemand:

A1percentchangeinpricecallsforthmorethana1percentchangeinquantitydemanded.

?Price-inelasticdemand

A1percentchangeinpriceevokes(弓I起)lessthana1percentchangeinquantitydemanded.

?Unit-elasticdemand

Thepercentagechangeinquantityisexactlythesameasthepercentagechangeinprice.

Thisconditionimpliesthattotalexpendituresonthecommodity(equalP*Q)staythesameeven

whenthepricechanges.

Threekeystepstocalculate(*1)

?計算需求曲線的價格彈性：直線上任何一點的彈性等于位于該點之下的線段長度與位于

該點之上的線段長度的比值。

Polar(極)extremes—thepriceelasticitiesareinfiniteorzero—completelyelasticandcompletely

inelastic

?Completelyinelasticdemand(withzeroelasticity):thequantitydemandedrespondsnotatall

topricechanges.(Vertical(垂直的)demandcurve)

需求量不隨價格而變動

?Infinitely(無限的)elasticdemand:atinychangeinpricewillleadtoanindefinitelylarge

changeinquantitydemanded.(Horizontaldemandcurve)

價格一定，需求量可以是無限的

Warning:elasticityisnotthesameasslope.(*2)

一般來說，在任何直線的中點M的上方，需求富有彈性，ED>1；中點處，需求具有單位彈

性ED=1；中點以下，需求缺乏彈性ED<1。

Elasticityandrevenue（收入）

Totalrevenue:pricetimesquantity

?Whendemandisprice-inelasticapricedecreasededucestotalrevenue.

?Whendemandisprice-elastic,apricedeceaseincreasestotalrevenue.

?Intheborderlinecaseofunit-elasticdemand,apricedecreaseleadstonochangeintotal

revenue.

§2.Priceelasticityofsupply

Theresponsiveness（快速反應）ofthequantitysuppliedofagoodtoitsmarketprice

Thepercentagechangeinquantitysupplieddividedbythepercentagechangeinprice

Factorsthatdeterminesupplyelasticity:

1.Theeasewithwhichproductionintheindustrycanbeincreased行業(yè)中增加生產(chǎn)的困難程度

Whetheralltheinputscanbereadilyfoundatgoingmarketprices

紡織行業(yè)，價格的微小上升就會導致產(chǎn)出大幅度增加

Whethertheproductioncapacityisseverelylimited

南非金礦開采，即使黃金價格急劇上升，產(chǎn)量也只能增加少許

2.Thetimeperiodunderconsideration供給者做出反應時間的長短

給定的價格變動會對供給量產(chǎn)生較大的影響。價格上升后的短暫時期內(nèi)，企業(yè)也許無法增

加其勞動、物資和資本投入，因此供給可能缺乏彈性；隨著時間推移，企業(yè)可以雇傭更多工

人,建造新的廠房和擴大生產(chǎn)能力——供給彈性變大。

BBB

APPLICATIONSTOCURRENTECONOMICISSUES

Long-runrelativedeclineoffarming農(nóng)業(yè)的長期相對衰落

Sharpincreasesinsupplyoutpacedmodestincreasesindemand,producingadownwardtrendin

farmpricesrelativetootherpricesintheeconomy.

Manygovernmentsattempttohelpfarmersbyreducingtheirproduction.

Productionrestrictions（限制生產(chǎn)）aretypicalofgovernmentmarketinterferencesthatraisethe

incomesofonegroupattheexpenseofothers.

?Thiskindofpolicyisinefficient:thegaintofarmersisactuallylessthantheharmto

consumers.

Incidence（歸宿）

Theultimateeconomicimpactorburdenofatax（稅賦的最終經(jīng)濟影響）

Whobearsthetineburdenofatax?—generalrulesontaxshifting（稅收轉(zhuǎn)嫁的一般原理）

Theincidenceofataxisdeterminedbytheeffectonpricesandquantitiesinsupply-and-demand

equilibrium.

Ingeneral,theburdenorincidencedependsupontherelativeelasticitiesofdemandandsupply.

Ataxisshiftedforwardtoconsumersifthedemandisinelasticrelativetosupply.

Ataxisshiftedbackwardtoproducersifsupplyisrelativelymoreinelasticthandemand.

汽油的需求相對于供給缺乏彈性，則賦稅的負擔大部分轉(zhuǎn)嫁給了消費者。

土地的供給相對于需求缺乏彈性，則稅賦大部分轉(zhuǎn)嫁給了供給者。

注：汽油的例子

需求曲線沒有移動，因為汽油稅增加后在每一個零售價格水平上，需求量并沒有變化。

供給曲線向上移動，因為只有當生產(chǎn)者得到與以前相等的凈價格(thesamenetprice),他,]

才會愿意出售某個數(shù)量。在每一供給量上，市場價格上升的幅度必須正好等于稅額。

Subsidies(補貼)

Taxesareusedtodiscourageconsumptionofacommodity-gasoline.

Subsidiesareusedtoencourageproduction-agriculture.

Governmentsoccasionallyinterferewiththeworkingsofcompetitivemarketsbysetting

maximumceilingsorminimumfloorsonprices.Insuchsituations,quantitysuppliedneedno

longerequalquantitydemanded.

Ceilingsleadtoexcessdemand(pricecontrolsproduceshortagesinthecaseofgasoline.

Floorsleadtoexcesssupply.

Theinterferencemayraisetheincomesofaparticulargroup(farmersorlow-skilledworkers),but

oftendistortionsandinefficienciesresults.Waste,inefficiency,andaggravation(短缺)arecertain

companionsofsuchinterferences.

WORDS

Productmarkets產(chǎn)品市場

Chapter5demandandconsumerbehavior

?Economicsreliesonthefundamentalpremisethatpeopletendtochoosethosegoodsand

servicestheyvaluemosthighly.

Utility

Denotessatisfaction,referstohowconsumersrankdifferentgoodsandservices

?Inthetheoryofdemand,wesaythatpeoplemaximizetheirutility,whichmeansthatthey

choosethebundleofconsumptiongoodsthattheymostprefer.

Marginalutility

Denotestheadditionalutilityarisingfromconsumptionofanadditionalunitofacommodity

消費新增一單位商品時所帶來的新增的效用

Lawofdiminishingmarginalutility

Statesthattheamountofextraormarginalutilitydeclinesasapersonconsumesmoreandmoreof

agood

效用的單位是“尤特爾”(utils)

邊際效用曲線必然向下傾斜；總效用曲線必然為反U形。

總效用是從開始處累計起來的所有邊際效用之和。

圖：邊際效用曲線之下的總面積等于消費單位數(shù)相同的總效用曲線的高度。

Equimarginalprinciple:equalmarginalutilitiesperdollarforeverygood

Equimarginalprinciple等邊際準則：

Thefundamentalconditionofmaximumsatisfactionorutility

Thefundamentalconditionofconsumerequilibrium消費者均衡的基本條件

Itstatesthataconsumerhavingafixedincomeandfacinggivenmarketpricesofgoodswill

achievemaximumsatisfactionorutilitywhenthemarginalutilityofthelastdollarspenton

eachgoodisexactlythesameasthemarginalutilityofthelastdollarspentonanyother

good.花費在任何一種物品上的最后一美元所得到的邊際效用正好等于花費在其他任何一

種物品上的最后一美元所得到的邊際效用時，該消費者得到最大的滿足或效用。

Marginalutilityofincome收入的邊際效用：

Thecommonmarginalutilityperdollarofallcommoditiesinconsumerequilibrium

消費者均衡時;各種物品每一美元的一般邊際效用

MUgoodi/Pi=MUgood2/P2=..........=MUper$ofincome

?Whydemandcurvesslopedownward?

Supposethecommonmarginalutilityperdollarofincomeconstant,thenincreasethepriceof

good1.Withnochangeinquantityconsumed,thefirstratiowillbebelowthatofallothergoods.

Theconsumerwillthereforehavetoreadjusttheconsumptionofgood1.

Theconsumerwilldothisby:

(a)loweringtheconsumptionofgood1,

(b)therebyraisingtheMUofgood1,until

(c)atthenew,reducedlevelofconsumptionofgood1,thenewmarginalutilityperdollarspent

ongood1isagainequaltotheMUperdollarspentonothergoods.

Therefore,ahigherpriceforagoodreducestheconsumer'sdesiredconsumptionofthat

commodity.That'swhydemandcurvesslopedownward.

SUBSTITUTIONEFFECTANDINCOMEEFFECT

Substitutioneffect

Whenthepriceofagoodrises,consumerswilltendtosubstituteothergoodsforthemore

expensivegoodinordertosatisfytheirdesiresmoreinexpensively.

Incomeeffect

Denotestheimpactofapricechangeonagood'squantitydemandedthatresultsfromtheeffectof

thepricechangeonconsumers'realincomes

?當價格上升并且貨幣收入固定不變時，消費者的實際收入下降。他們很可能減少幾乎所

有物品（包括價格上升的物品）的購買數(shù)量。收入效應常常會強化替代效應，使得需求

曲線更向下傾斜。

?商品X價格下降，替代效應使商品X的需求量上升，收入效應卻有兩種可能：

-、商品X價格下降，收入效應使X的需求量上升，則X的需求量收入彈性為正值，X

是正常商品。

二、商品X價格下降，收入效應使X的需求量下降，則X的需求量收入彈性為負值，X

是低劣商品。

三、商品X價格下降，收入效應不但使X的需求量下降，而且其下降幅度要大于替代效

應帶來的需求量上升，則X為吉芬商品。吉芬商品的需求量與價格成正向關系。

19世紀中葉的愛爾蘭，土豆價格上升時需求量反而上升。因為愛爾蘭人的主食是面包、

土豆和肉，購買土豆的支出在窮人的消費支出中占有很大比重。土豆價格上升，意味著窮人

的實際收入下降，使之無力再去購買昂貴的肉類食品，為了生存只得購買更多的土豆。

吉芬商品是低劣商品，低劣商品未必是吉芬商品。

*新編P55P56圖3—12圖3—13

Demandshifts

收入的上升會增加我們所愿意購買的大多數(shù)物品的數(shù)量.對于收入變動，必需品做出的反應

程度小于大多數(shù)物品，奢侈品做出的反應較大。低劣品的購買量隨收入的增加而下降。

物品自身價格變動，沿需求曲線移動；除自身價格以外的條件變動，需求曲線向左方（左下

方）或右方（右下方）移動。

Substitutesandcomplements

Substitutes

GoodsAandBaresubstitutesifanincreaseinthepriceofgoodAwillincreasethedemandfor

substitutegoodB.（beefandchicken）

Complements

GoodsAandBarecomplementswhenanincreaseinthepriceofgoodAcausesadecreaseinthe

demandforitscomplementarygoodB.（carsandgasoline）

Independentgoods

Onegoodhasnoeffectonthedemandfortheother.（Beefandtextbooks）

Incomeelasticity收入彈性：

Denotesthepercentagechangeinquantitydemandeddividedbythepercentagechangeinincome,

holdingotherthings,suchasprices,constant

Highincomeelasticities:空中旅行,游艇。

Lowincomeelasticities:食物，香煙。

收入效應和替代效應共同決定了各種商品的需求曲線的價格彈性。

Empiricalestimatesofpriceandincomeelasticities（需求）價格彈性和收入彈性的經(jīng)驗估算

CommodityPriceelasticitycommodityIncomeelasticity

Tomatoes4.60Automobiles2.50

Greenpeas2.80Owner-occupiedhousing1.50

Legalgambling1.90Furniture1.50

Taxiservice1.20Books1.40

Furniture1.00Restaurantmeals1.00

Movies0.87Clothing1.00

Shoes0.70Physicians'service0.75

Legalservice0.61Tobacco0.64

Medicalinsurance0.31Eggs0.37

Bustravel0.20Pigproducts-0.20

Residentialelectricity0.13Flour-0.36

Priceelasticity:

High-readysubstitutesareavailable

Low-essentialtodailylifeandnoclosesubstitutes

Incomeelasticity:

High-luxuries

Negative-inferiorgoods低檔品

Proportionally-staplecommodities日常用品

Addictivesubstance:

Thedesiretoconsumedependssignificantlyonpastconsumption

?Economically,prohibitioncanbeinterpretedasasharpupwardshiftinthesupplycurve.

供給曲線向上移動之后，上癮物品的價格會提高很多。

Raisingthepricesofharmfuladdictivesubstancescanreducethenumberofcasualuserswhowill

beattractedintothemarket.

Prohibitionofaddictivesubstancescanpromotescrime,destroysinnercities,spreadsAIDS,

corruptslawenforcementofficialsandpoliticians,producesandexacerbatespoverty,anderodes

themoralfabricofsociety,ordriveuserstootherharmfulsubstances.

Theparadoxofvalue價值悖論

Howisitthatwater,whichisessentialtolife,haslittlevalue,whilediamonds,whichare

generallyusedforconspicuousconsumption,commandandexaltedprice?

Water'spriceisdeterminedbyitsmarginalutility,bytheusefulnessofthelastglassofwater,

whichsellsforverylittlebecausethereissomuchwater.

Themorethereisofacommodity,thelessistherelativedesirabilityofitslastlittleunit.Itisthe

largequantitiesthatpullthemarginalutilitiessofardownandthusreducethepricesofthesevital

commodities.

Consumersurplus消費者剩余

Theparadoxofvalueemphasizesthattherecordedmoneyvalueofagood（貨幣價值）（measured

bypricetimesquantity）maybeverymisleadingasanindicatorofthetotaleconomicvalueofthat

good.

Consumersurplus:

Thegapbetweenthetotalutilityofagoodanditstotalmarketvalue

?thelawofdiminishingmarginalutility&wepayforeachunitwhatthelastunitisworth-we

receivemorethanwepayfor-surplusarises

消費者剩余運用于整個市場：

價格線之上的市場需求曲線的面積代表了消費者剩余的總量一一有助于衡量公共品帶來的

利益以及壟斷和進口關稅造成的損失

cost-benefitanalysis成本效益分析

Attemptstodeterminethecostsandbenefitsofagovernmentprogram-Afreeroadshouldbe

builtifitstotalconsumersurplusexceedsitscosts.

APPENDIX5GEOMETRICALANALYSISOFCONSUMEREQUILIBRIUM

消費者均衡的兒何分析

Theindifferencecurve無差異曲線

Thepointsonwhichrepresentconsumptionbundlesamongwhichtheconsumerisindifferent

Lawofsubstitution

Thescarceragood,thegreateritsrelativesubstitutionvalue;itsmarginalutilityrisesrelativeto

themarginalutilityofthegoodthathasbecomeplentiful

一種物品越是稀缺，它的相對替代價值就越大；相對于變得充裕的那些物品而言，它的邊際

效用會上升。

——因此無差異曲線凸向原點。沿曲線向下向右移動，曲線會變得平坦。

曲線上兩點連線的斜率絕對值為兩種物品之間的替代率（邊際替代率）substitutionratios

（marginalratesofsubstitution）在曲線上移動的距離越短，替代率就越接近無差異曲線的實際

斜率。

Theslopeoftheindifferencecurveisthemeasureofthegoods'relativemarginalutilities,orof

thesubstitutiontermsonwhich—forverysmallchanges—theconsumerwouldbewillingto

exchangealittlelessofonegoodinreturnforalittlemoreoftheother.

（無差異曲線的斜率是兩種物品的相對邊際效用的度量，或者說是兩種物品的替代條件的度

量，即對于很小的變化，消費者愿意按該條件用一種物品的少量減少來換取另一種物品的少

量增加。）

budgetlineorbudgetconstraint預算線或預算約束

表示在給定價格下，消費者正好花費完其收入的兩種物品的各種可能組合的直線

theequilibriumpositionoftangency切點的均衡位置

Theconsumerisatequilibriumwheretheslopeofthebudgetlineisequaltotheslopeofthe

indifferencecurve—theratiooffoodtoclothingpricesisequaltotheratioofthemarginal

utilitiesofthetwogoods

Theratioofpricesisequaltotheratioofmarginalutilities-theconsumerisgettingthesame

marginalutilityfromthelastpennyspentonfoodasfromthelastpennyspentonclothing.

Equilibriumcondition:

PF/PC=substitutionratio=MUF/MUC

?一種物品價格變化時各個均衡點的連線為價格消費曲線(PCC),可知商品的需求量隨

價格下降而上升。用圖形表示這種關系，就是負斜率的需求曲線。

新編P53中文P79

?較高的食品價格一定會減少食品的消費，但衣服的消費可能上升或下降。

新編P55P56圖3—12圖3—13

Words

Ordinalutility序數(shù)效用

只考慮商品組合的偏好順序：A是否比B值得偏好。

Equimarginalprinciple等邊際準則

Meritgoods益品

Demeritgoods害品

Addictivesubstance上癮物品

Theindifferencemap無差異曲線圖

Chapter6productionandbusinessorganization

THEORYOFPRODUCTIONANDMARGINALPRODUCTS

Theproductionfunction

Therelationshipbetweentheamountofinputrequiredandtheamountofoutputthatcanbe

obtained

Specifiesthemaximumoutputthatcanbeproducedwithagivenquantityofinputs

Totalproduct

Designatesthetotalamountofoutputproduced

Marginalproduct(ofaninput)邊際產(chǎn)量

Theextraproductoroutputaddedby1extraunitofthatinputwhileotherinputsareheldconstant

Averageproduct

Equalstotaloutputdividedbytotalunitsofinput

Lawofdiminishingreturns邊際收益遞減規(guī)律

Themarginalproductofeachunitofinputwilldeclineastheamountofthatinputincreases,

holdingallotherinputsconstant

邊際收益遞減表現(xiàn)為一個凸型的或圓頂型的總產(chǎn)量曲線

Returnstoscale規(guī)模收益

Reflecttheresponsivenessoftotalproductwhenalltheinputsareincreasedproportionately

?constantreturnstoscale:

Achangeinallinputsleadstoaproportionalchangeinoutput如手工業(yè)

?increasingreturnstoscale

Anincreaseinallinputsleadstoamore-than-proportionalincreaseinthelevelofoutput

?decreasingreturnstoscale

Abalancedincreaseofallinputsleadstoaless-than-proportionalincreaseintotaloutput

Thesemightarisebecausethecostsofmanagementorcontrolbecomelarge.

Modemmass-productiontechniquesrequirethatfactoriesbeacertainminimumsize.

Mostproductionactivitiesshouldbeabletoattainconstantreturnstoscale.

Productivity生產(chǎn)率

Measuringtheratiooftotaloutputtoaweightedaverageofinputs

總產(chǎn)出與總投入的加權(quán)平均數(shù)之比

Outputperunitofinput

每單位投入的產(chǎn)出

如果企業(yè)的投入增加1%,由于規(guī)模效益引起產(chǎn)出增加3%,則生產(chǎn)率上升2(=3—1)%

如果1996年每個工人的產(chǎn)出為100單位，在1997年增加到102.5單位，那么，生產(chǎn)率增長

為每年2.5%。

Laborproductivity

Theamountofoutputperunitoflabor

Capitalproductivity

Outputperunitofcapital

Totalfactorproductivity全要素生產(chǎn)率

Outputperunitoftotalinputsofcapitalandlabor

Shortrun

Aperiodinwhichfinnscanadjustproductionbychangingvariablefactorsbutcannotchange

fixedfactors.

Theperiodinwhichproductioncanbechangedbychangingvariableinputs

Longrun

Aperiodsufficientlylongsothatallfactorsincludingcapitalcanbeadjusted

Variablefactors

Thefactorswhichareincreasedintheshortrun

Technologicalchange技術變革

Referstoimprovementsintheprocessesforproducinggoodsandservices,changesinold

products,orintroductionofnewproducts

Processinnovation生產(chǎn)過程的創(chuàng)新

Occurswhennewengineeringknowledgeimprovesproductiontechniquesforexistingproducts

Allowsfirmstoproducemoreoutputwiththesameinputsortoproducethesameoutputwith

fewerinputs

Ashiftintheproductionfunction

Productinnovation產(chǎn)品創(chuàng)新

Neworimprovedproductsareintroducedinthemarketplace

BUSINESSORGANIZATIONS

Thenatureofthefirm

Reasonsfortheexistenceoffirms(whyproductionorganizedinfirms):

Economiesofmassproduction大規(guī)模生產(chǎn)的經(jīng)濟性

Raisingresourcesforlarge-scaleproduction為大規(guī)模生產(chǎn)籌集資金

Managetheproductionprocess管理生產(chǎn)過程

Big,small,andinfinitesimalbusinesses

Theindividualproprietorship業(yè)主制

Theclassicsmallbusinessesoftencalled“mom-and-pop“stores夫妻店

Thepartnership合伙制

Eachagreestoprovidesomefractionoftheworkandcapital,tosharesomepercentageofthe

profits,andtosharethelossesordebts

Themajordisadvantageisunlimitedliability(無限責任)

Theperilofunlimitedliabilityandthedifficultyofraisingfundsexplainwhypartnershipstendto

beconfinedtosmall,personalenterprisessuchasagricultureandretailtrade.It'stooriskyfor

mostsituations.

Thecorporation公司

Corporationsarepredominantinamarketeconomy

Thecentralfeaturesofamoderncorporation:

?Theownershipofacorporationisdeterminedbytheownershipofthecompany'scommon

stock.

?Inprinciple,theshareholderscontrolthecompaniestheyown,butthoseofgiantcorporations

exercisevirtuallynocontrolbecausetheyaretoodispersedtooverruletheentrenched

managers.

?Thecorporation^managersanddirectorshavethelegalpowertomakedecisionsforthe

corporation.Theshareholdersownthecorporation,butthemanagersrunit.

Advantages:

Efficienttoengageinbusiness

Stockholdersenjoylimitedliability

Disadvantage:

Anextrataxoncorporateprofits

WORDS

Shareholder股東

Economicsoforganizations組織經(jīng)濟學

Chapter7analysisofcosts

ECONOMICANALYSISOFCOSTS

Fixedcosts(overheadorsunkcosts)(固定開銷或沉淀成本)

Mustbepaidevenifthefirmproducesnooutput,andwillnotchangeifoutputchanges

Variablecosts

Varyasoutputchanges

Totalcosts

Thelowesttotaldollarexpenseneededtoproduceeachlevelofoutputq

Marginalcost

Denotestheextraoradditionalcostofproducing1extraunitofoutput

(Sayafirmisproducing1000compactdiscsforatotalcostof$10000.ifthetotalcostof

producing1001discsis$10006,themarginalcostofproductionis$6forthe1001stdisc.)

Marginalcostindiagrams:

Formostproductionactivitiesintheshortrun(i.e.whenthecapitalstockisfixed),marginalcost

curvesareU-shaped.

?relationofslopeandmarginalcost

FIGURE7-3P120中文P95

Minimumaveragecost

?MCintersectsACatitsminimum.

Whenmarginalcostisbelowaveragecost,it'spullingaveragecostdown;

WhenMCjustequalsAC,ACisneitherrisingnorfallingandisatitsminimum;

WhenMCisaboveAC,itispullingACup.

Hence,atthebottomofaU-shapedAC,MC=AC=minimumAC.

TheACcurveisalwayspiercedatitsminimumpointbytherisingMCcurve.

Intermsofourcostcurves,iftheMCcurveisbelowtheACcurve,theACcurvemustbefalling.

?Afirmsearchingforthelowestaveragecostofproductionshouldlookforthelevelofoutput

atwhichmarginalcostsequalaveragecosts.

Thelinkbetweenproductionandcosts

Whengiventhefactorpricesandtheproductionfunction,thecostcurvecanbecalculated.

WhyaveragecostcurvestendtobeU-shaped?

Intheshortrun(capitalisfixedbutlaborisvariable),therearediminishingreturnstothevariable

factor(labor)becauseeachadditionalunitoflaborhaslesscapitaltoworkwith.Asaresult,the

marginalcostofoutputwillrisebecausetheextraoutputproducedbyeachextralaborunitis

goingdown.

Inotherwords,diminishingreturnstothevariablefactorwillimplyanincreasingshort-run

marginalcost.Thisshowswhydiminishingreturnsleadtorisingmarginalcostsaftersomepoint.

Therelationshipbetweentheproductivitylawsandthecostcurves:

(生產(chǎn)率規(guī)律與成本曲線之間的關系)

intheshortrun,whenfactorssuchascapitalarefixed,variablefactorstendtoshowaninitial

phaseofincreasingreturnsfollowedbydiminishingreturns.Thecorrespondingcostcurvesshow

aninitialphaseofdecliningmarginalcostsfollowedbyincreasingMCafterdiminishingreturns

havesetin.

?Firmsminimizetheircostsofproduction,(notonlyforperfectlycompetitivefirmsbutfor

monopolistsorevennonprofitorganizations)

Theleast-costrule

Toproduceagivenlevelofoutputatleastcost,afirmshouldbuyinputsuntilithasequalizedthe

marginalproductperdollarspentoneachinput.

MarginalproductofL/priceofL=marginalproductofA/priceofA=.......

Theleast-costrulestatesthatthemarginalproductofeachdollar-unitofinputmustbeequalized.

Substitutionrule替代規(guī)則

Acorollaryoftheleast-costrule

Ifthepriceofonefactorfallswhileallotherfactorpricesremainthesame,firmswillprofitby

substitutingthenow-cheaperfactorforalltheotherfactors.

ECONOMICCOSTANDBUSINESSACCOUNTING

經(jīng)濟成本和企業(yè)會計

Theincomestatement(statementofprofitandloss)

收益表(損益表)

Showstotalsalesandexpensesforaperiodoftime

Reports:

Revenuesfromsales

Theexpensestobechargedagainstthosesales

Thenetincomeorprofitsremainingafterexpenseshavebeendeducted

Depreciation

Measurestheannualcostofacapitalinputthatacompanyowns

Twomajorprinciplestofollow:

a.Thetotalamountofdepreciationovertheasset'slifetimemustequalthecapitalgood's

historicalcostorpurchaseprice

b.Thedepreciationistakeninannualaccountingchargesovertheasset'saccountinglifetime,

whichisusuallyrelatedtotheactualeconomiclifetimeoftheasset.

The“straight-line“methodofdepreciation:

Le.Theequipmentisdepreciatedaccordingtoa10-yearlifetime,sothe$150000ofequipment

hasadepreciationchargeof$15000peryear

Thebalancesheet資產(chǎn)負債表

Apictureoffinancialconditionsonagivendate

Recordswhatafirm,person,ornationisworthatagivenpointintime

Includes:

Assets(valuablepropertiesorrightsownedbythefirm)資產(chǎn)

Liabilities(moneyorobligationsowedbythefirm)負債

Networth(ornetvalue,equaltototalassetsminustotalliabilities)凈值

?theincomestatementmeasurestheflowsintoandoutofthefirm,whilethebalancesheet

measuresthestocksofassetsandliabilitiesattheendoftheaccountingyear(flowandstock

流量和存量)

OPPORTUNITYCOSTS

Decisionshaveopportunitycostsbecausechoosingonethinginaworldofscarcitymeansgiving

upsomethingelse.

Theopportunitycostisthevalueofthegoodorserviceforgone.

Theeconomist'sdefinitionofcostsisbroaderthantheaccou