复旦大学高级微观经济学讲义 黄有光 张欣 |
VI. Firm’s Supply: the short run and long run (IV)
6.1 Additional constraints to the profit maximization problem 6.2 The short-run • In the short run, some inputs are fixed, called fixed inputs • Others are variable inputs • the cost associated with the fixed inputs is the fixed cost F Fixed costs • the cost associated with the variable inputs is the variable cost Cv (y) Variable costs • Total cost: C = F + Cv(y) • The short run decision: • Remarks: a) The intercept of C(y) is the fixed cost b) MC = C’(y) = Cv’(y) c) ATC average total cost C(y) / y AVC average variable cost Cv(y) / (y) The marginal cost goes through the minimum of the ATC and AVC. Proof • Example: Given the cost function C = y3 – 4y2 + 6y + 10, find the supply function. 6.3 The long run In the long run, all inputs are variable. No fixed cost. • The long run supply curve versus the short run supply curves 6.4 The Producers’ Surplus • The producer’s surplus (PS) is defined as the “triangle area” between the price line and the supply curve (MC). • An alternative definition is PS = P y – Cv(y) • Prove that two definitions are the consistent. • Economic implication of the producers’ surplus 链接:http://pan.baidu.com/s/1qYGQAfU
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