《7consumers_producers 曼昆 微观经济学课件》由会员分享，可在线阅读，更多相关《7consumers_producers 曼昆 微观经济学课件（43页珍藏版）》请在金锄头文库上搜索。
1、 3SUPPLYANDDEMANDII MARKETSANDWELFARE 7 Consumers Producers andtheEfficiencyofMarkets REVISITINGTHEMARKETEQUILIBRIUM Dotheequilibriumpriceandquantitymaximizethetotalwelfareofbuyersandsellers Marketequilibriumreflectsthewaymarketsallocatescarceresources Whetherthemarketallocationisdesirablecanbeaddre
2、ssedbywelfareeconomics WelfareEconomics Welfareeconomicsisthestudyofhowtheallocationofresourcesaffectseconomicwell being Buyersandsellersreceivebenefitsfromtakingpartinthemarket Theequilibriuminamarketmaximizesthetotalwelfareofbuyersandsellers WelfareEconomics Equilibriuminthemarketresultsinmaximumb
3、enefits andthereforemaximumtotalwelfareforboththeconsumersandtheproducersoftheproduct WelfareEconomics Consumersurplusmeasureseconomicwelfarefromthebuyer sside Producersurplusmeasureseconomicwelfarefromtheseller sside CONSUMERSURPLUS Willingnesstopayisthemaximumamountthatabuyerwillpayforagood Itmeas
4、ureshowmuchthebuyervaluesthegoodorservice CONSUMERSURPLUS Consumersurplusisthebuyer swillingnesstopayforagoodminustheamountthebuyeractuallypaysforit Table1FourPossibleBuyers WillingnesstoPay Copyright 2004South Western CONSUMERSURPLUS Themarketdemandcurvedepictsthevariousquantitiesthatbuyerswouldbew
5、illingandabletopurchaseatdifferentprices TheDemandScheduleandtheDemandCurve Figure1TheDemandScheduleandtheDemandCurve Copyright 2003Southwestern ThomsonLearning Priceof Album 0 Quantityof Albums 1 2 3 4 Figure2MeasuringConsumerSurpluswiththeDemandCurve Copyright 2003Southwestern ThomsonLearning a Pr
6、ice 80 Priceof Album 50 70 80 0 100 1 2 3 4 Quantityof Albums Figure2MeasuringConsumerSurpluswiththeDemandCurve Copyright 2003Southwestern ThomsonLearning b Price 70 Priceof Album 50 70 80 0 100 1 2 3 4 Quantityof Albums UsingtheDemandCurvetoMeasureConsumerSurplus Theareabelowthedemandcurveandabovet
7、hepricemeasurestheconsumersurplusinthemarket Figure3HowthePriceAffectsConsumerSurplus Copyright 2003Southwestern ThomsonLearning Quantity a ConsumerSurplusatPrice P Price 0 Figure3HowthePriceAffectsConsumerSurplus Copyright 2003Southwestern ThomsonLearning Quantity b ConsumerSurplusatPrice P Price 0
8、 WhatDoesConsumerSurplusMeasure Consumersurplus theamountthatbuyersarewillingtopayforagoodminustheamounttheyactuallypayforit measuresthebenefitthatbuyersreceivefromagoodasthebuyersthemselvesperceiveit PRODUCERSURPLUS Producersurplusistheamountasellerispaidforagoodminustheseller scost Itmeasuresthebe
9、nefittosellersparticipatinginamarket Table2TheCostsofFourPossibleSellers Copyright 2004South Western UsingtheSupplyCurvetoMeasureProducerSurplus Justasconsumersurplusisrelatedtothedemandcurve producersurplusiscloselyrelatedtothesupplycurve TheSupplyScheduleandtheSupplyCurve Figure4TheSupplySchedulea
10、ndtheSupplyCurve UsingtheSupplyCurvetoMeasureProducerSurplus Theareabelowthepriceandabovethesupplycurvemeasurestheproducersurplusinamarket Figure5MeasuringProducerSurpluswiththeSupplyCurve Copyright 2003Southwestern ThomsonLearning Quantityof HousesPainted Priceof House Painting 500 800 900 0 600 1
11、2 3 4 a Price 600 Figure5MeasuringProducerSurpluswiththeSupplyCurve Copyright 2003Southwestern ThomsonLearning Quantityof HousesPainted Priceof House Painting 500 800 900 0 600 1 2 3 4 b Price 800 Figure6HowthePriceAffectsProducerSurplus Copyright 2003Southwestern ThomsonLearning Quantity a Producer
12、SurplusatPrice P Price 0 Figure6HowthePriceAffectsProducerSurplus Copyright 2003Southwestern ThomsonLearning Quantity b ProducerSurplusatPrice P Price 0 P1 B C Supply A Initial producer surplus Q1 MARKETEFFICIENCY Consumersurplusandproducersurplusmaybeusedtoaddressthefollowingquestion Istheallocatio
13、nofresourcesdeterminedbyfreemarketsinanywaydesirable MARKETEFFICIENCY ConsumerSurplus Valuetobuyers AmountpaidbybuyersandProducerSurplus Amountreceivedbysellers Costtosellers MARKETEFFICIENCY Totalsurplus Consumersurplus ProducersurplusorTotalsurplus Valuetobuyers Costtosellers MARKETEFFICIENCY Effi
14、ciencyisthepropertyofaresourceallocationofmaximizingthetotalsurplusreceivedbyallmembersofsociety MARKETEFFICIENCY Inadditiontomarketefficiency asocialplannermightalsocareaboutequity thefairnessofthedistributionofwell beingamongthevariousbuyersandsellers Figure7ConsumerandProducerSurplusintheMarketEq
15、uilibrium Copyright 2003Southwestern ThomsonLearning Price 0 Quantity MARKETEFFICIENCY ThreeInsightsConcerningMarketOutcomesFreemarketsallocatethesupplyofgoodstothebuyerswhovaluethemmosthighly asmeasuredbytheirwillingnesstopay Freemarketsallocatethedemandforgoodstothesellerswhocanproducethematleastc
16、ost Freemarketsproducethequantityofgoodsthatmaximizesthesumofconsumerandproducersurplus Figure8TheEfficiencyoftheEquilibriumQuantity Copyright 2003Southwestern ThomsonLearning Quantity Price 0 EvaluatingtheMarketEquilibrium Becausetheequilibriumoutcomeisanefficientallocationofresources thesocialplannercanleavethemarketoutcomeashe shefindsit ThispolicyofleavingwellenoughalonegoesbytheFrenchexpressionlaissezfaire EvaluatingtheMarketEquilibrium MarketPowerIfamarketsystemisnotperfectlycompetitive ma
