forFactorInputs(微观经济学-华侨大学,JeffCaldw.pptx
- 文档编号:30796946
- 上传时间:2023-10-09
- 格式:PPTX
- 页数:85
- 大小:338.17KB
forFactorInputs(微观经济学-华侨大学,JeffCaldw.pptx
《forFactorInputs(微观经济学-华侨大学,JeffCaldw.pptx》由会员分享,可在线阅读,更多相关《forFactorInputs(微观经济学-华侨大学,JeffCaldw.pptx(85页珍藏版)》请在冰豆网上搜索。
,Chapter14,MarketsforFactorInputs,1,Chapter1,TopicstobeDiscussed,CompetitiveFactorMarketsEquilibriuminaCompetitiveFactorMarketFactorMarketswithMonopsonyPowerFactorMarketswithMonopolyPower,2,Chapter1,CompetitiveFactorMarkets,Characteristics1)Largenumberofsellersofthefactorofproduction2)Largenumberofbuyersofthefactorofproduction3)Thebuyersandsellersofthefactorofproductionarepricetakers,3,Chapter1,CompetitiveFactorMarkets,DemandforaFactorInputWhenOnlyOneInputIsVariableDemandforfactorinputsisaderiveddemandderivedfromfactorcostandoutputdemand,4,Chapter1,CompetitiveFactorMarkets,AssumeTwoinputs:
Capital(K)andLabor(L)CostofKisrandthecostoflaboriswKisfixedandLisvariable,DemandforaFactorInputWhenOnlyOneInputIsVariable,5,Chapter1,CompetitiveFactorMarkets,ProblemHowmuchlabortohire,DemandforaFactorInputWhenOnlyOneInputIsVariable,6,Chapter1,CompetitiveFactorMarkets,MeasuringtheValueofaWorkersOutputMarginalRevenueProductofLabor(MRPL)MRPL=(MPL)(MR),DemandforaFactorInputWhenOnlyOneInputIsVariable,7,Chapter1,CompetitiveFactorMarkets,AssumeperfectcompetitionintheproductmarketThenMR=P,DemandforaFactorInputWhenOnlyOneInputIsVariable,8,Chapter1,CompetitiveFactorMarkets,QuestionWhatwillhappentothevalueofMRPLwhenmoreworkersarehired?
DemandforaFactorInputWhenOnlyOneInputIsVariable,9,Chapter1,MarginalRevenueProduct,HoursofWork,Wages($perhour),10,Chapter1,CompetitiveFactorMarkets,Choosingtheprofit-maximizingamountoflaborIfMRPLw(themarginalcostofhiringaworker):
hiretheworkerIfMRPLw:
hirelesslaborIfMRPL=w:
profitmaximizingamountoflabor,DemandforaFactorInputWhenOnlyOneInputIsVariable,11,Chapter1,HiringbyaFirmintheLaborMarket(withCapitalFixed),QuantityofLabor,PriceofLabor,WhynothirefewerormoreworkersthanL*.,12,Chapter1,CompetitiveFactorMarkets,Ifthemarketsupplyoflaborincreasedrelativetodemand(babyboomersorfemaleentry),asurplusoflaborwouldexistandthewageratewouldfall.QuestionHowwouldthisimpactthequantitydemandedforlabor?
DemandforaFactorInputWhenOnlyOneInputIsVariable,13,Chapter1,AShiftintheSupplyofLabor,QuantityofLabor,PriceofLabor,14,Chapter1,CompetitiveFactorMarkets,ComparingInputandOutputMarkets,15,Chapter1,CompetitiveFactorMarkets,ComparingInputandOutputMarketsInbothmarkets,inputandoutputchoicesoccurwhereMR=MCMRfromthesaleoftheoutputMCfromthepurchaseoftheinput,16,Chapter1,CompetitiveFactorMarkets,ScenarioProducingfarmequipmentwithtwovariableinputs:
LaborAssembly-linemachineryAssumethewageratefalls,DemandforaFactorInputWhenSeveralInputsAreVariable,17,Chapter1,CompetitiveFactorMarkets,QuestionHowwillthedecreaseinthewagerateimpactthedemandforlabor?
DemandforaFactorInputWhenSeveralInputsAreVariable,18,Chapter1,FirmsDemandCurveforLabor(withVariableCapital),HoursofWork,Wages($perhour),0,5,10,15,20,40,80,120,160,19,Chapter1,AssumethatallfirmsrespondtoalowerwageAllfirmswouldhiremoreworkers.Marketsupplywouldincrease.Themarketpricewillfall.Thequantitydemandedforlaborbythefirmwillbesmaller.,CompetitiveFactorMarkets,IndustryDemandforLabor,20,Chapter1,MRPL1,TheIndustryDemandforLabor,Labor(worker-hours),Labor(worker-hours),Wage($perhour),Wage($perhour),0,5,10,15,0,5,10,15,50,100,150,L0,Firm,Industry,21,Chapter1,TheIndustryDemandforLabor,QuestionHowwouldachangetoanon-competitivemarketimpactthederivationofthemarketdemandforlabor?
22,Chapter1,TheDemandforJetFuel,ObservationsJetfuelisafactor(input)costCostofjetfuel1971-Jetfuelcostequaled12.4%oftotaloperatingcost1980-Jetfuelcostequaled30.0%oftotaloperatingcost1990s-Jetfuelcostequaled15.0%oftotaloperatingcost,23,Chapter1,TheDemandforJetFuel,ObservationsAirlinesrespondedtohigherpricesinthe1970sbyreducingthequantityofjetfuelusedTon-milesincreasedby29.6%&jetfuelconsumedroseby8.8%,24,Chapter1,TheDemandforJetFuel,ObservationsThedemandforjetfuelimpactstheairlinesandrefineriesalikeTheshort-runpriceelasticityofdemandforjet-fuelisveryinelastic,25,Chapter1,Short-runPriceElasticityofDemandforJetFuel,American-.06Delta-.15Continental-.09TWA-.10Northwest-.07United-.10,AirlineElasticityAirlineElasticity,26,Chapter1,TheDemandforJetFuel,QuestionHowwouldthelong-runpriceelasticityofdemandcomparetotheshort-run?
27,Chapter1,TheShort-andLong-RunDemandforJetFuel,QuantityofJetFuel,Price,MRPLR,MRPSR,28,Chapter1,CompetitiveFactorMarkets,TheSupplyofInputstoaFirmDetermininghowmuchofaninputtopurchaseAssumeaperfectlycompetitivefactormarket,29,Chapter1,AFirmsInputSupplyinaCompetitiveFactorMarket,YardsofFabric(thousands),YardsofFabric(thousands),Price($peryard),Price($peryard),30,Chapter1,CompetitiveFactorMarkets,TheMarketSupplyofInputsThemarketsupplyforphysicalinputsisupwardslopingExamples:
jetfuel,fabric,steelThemarketsupplyforlabormaybeupwardslopingandbackwardbending,31,Chapter1,CompetitiveFactorMarkets,TheSupplyofLaborThechoicetosupplylaborisbasedonutilitymaximizationLeisurecompeteswithlaborforutilityWageratemeasuresthepriceofleisureHigherwageratecausesthepriceofleisuretoincrease,32,Chapter1,CompetitiveFactorMarkets,TheSupplyofLaborHigherwagesencourageworkerstosubstituteworkforleisure(i.e.thesubstitutioneffect)Higherwagesallowtheworkertopurchasemoregoods,includingleisurewhichreducesworkhours(i.e.theincomeeffect),33,Chapter1,CompetitiveFactorMarkets,TheSupplyofLaborIftheincomeeffectexceedsthesubstitutioneffectthesupplycurveisbackwardbending,34,Chapter1,IncomeEffectSubstitutionEffect,IncomeEffectSubstitutionEffect,Backward-BendingSupplyofLabor,HoursofWorkperDay,Wage($perhour),SupplyofLabor,35,Chapter1,SubstitutionandIncomeEffectsofaWageIncrease,HoursofLeisure,Income($perday),0,240,8,24,36,Chapter1,LaborSupplyforOne-andTwo-EarnerHouseholds,FemalePercentofLaborForce1950-29%1999-60%,37,Chapter1,ElasticitiesofLaborSupply(HoursWorked),HeadsHoursSpousesHoursHeadsHourswithRespecttowithRespecttowithRespecttoGroupHeadsWageSpousesWageSpousesWage,Unmarriedmales.026(nochildren)Unmarriedfemales.106(withchildren)Unmarriedfemales.011(nochildren)One-earnerfamily-.078(withchildren)One-earnerfamily.007(nochildren)Two-earnerfamily-.002-.086-.004(withchildren)Two-earnerfamily-.107-.028-.059(nochildren),38,Chapter1,EquilibriuminaCompetitiveFactorMarket,Acompetitivefactormarketisinequilibriumwhenthepriceoftheinputequatesthequantitydemandedtothequantitysupplied.,39,Chapter1,LaborMarketEquilibrium,NumberofWorkers,NumberofWorkers,Wage,Wage,CompetitiveOutputMarket,MonopolisticOutputMarket,40,Chapter1,LaborMarketEquilibrium,EquilibriuminaCompetitiveOutputMarketDL(MRPL)=SLwC=MRPLMRPL=(P)(MPL)Marketsareefficient,EquilibriuminaMonopolisticOutputMarketMRPMRP=(MR)(MPL)HireLMatwagewMvM=marginalbenefittoconsumerswM=marginalcosttothefirm,41,Chapter1,LaborMarketEquilibrium,EquilibriuminaCompetitiveOutputMarketDL(MRPL)=SLwC=MRPLMRPL=(P)(MPL)Marketsareefficient,EquilibriuminaMonopolisticOutputMarketProfitsmaximizedUsinglessthantheefficientlevelofinput,42,Chapter1,EconomicRentForafactormarket,economicrentisthedifferencebetweenthepaymentsmadetoafactorofproductionandtheminimumamountthatmustbespenttoobtaintheuseofthatfactor.,EquilibriuminaCompetitiveFactorMarket,43,Chapter1,Totalexpenditure(wage)paidis0w*xAL*,EconomicRent,NumberofWorkers,Wage,0,Theeconomicrentassociatedwiththeemploymentoflaboristheexcessofwagespaidabovetheminimumamountneededtohireworkers.,44,Chapter1,EconomicRent,QuestionWhatwouldbetheeconomicrentifSLisperfectlyelasticorperfectlyinelastic?
45,Chapter1,Land:
APerfectlyInelasticSupplyWithlandinelasticallysupplied,itspriceisdeterminedentirelybydemand,atleastintheshortrun.,EquilibriuminaCompetitiveFactorMarket,46,Chapter1,LandRent,NumberofAcres,Price($peracre),SupplyofLand,D2,D1,47,Chapter1,PayintheMilitary,DuringtheCivilWar90%ofthearmedforceswereunskilledworkersinvolvedingroundcombat.Today,only16%areunskilledworkersinvolvedingroundcombat.,48,Chapter1,PayintheMilitary,Shortagesofskilledpersonnelhasoccurred?
Why?
Hint:
Ifthereisashortage,thewagemustbebelowthe?
49,Chapter1,TheShortageofSkilledMilitaryPersonnel,NumberofSkilledWorkers,Wage,SL,DL=MRPL,w*,50,Chapter1,PayintheMilitary,MilitarypayisbasedonyearsofservicenotMRP.MRPincreasesandtheprivatesectorpayisgreaterthanmilitarypay.Manyleavethemilitary.,51,Chapter1,PayintheMilitary,SolutionSelectivereenlistmentbonusesBasepayonMRP,52,Chapter1,FactorMarketswithMonopsonyPower,AssumeTheoutputmarketisperfectlycompetitive.Inputmarketispuremonopsony.,53,Chapter1,D=MRPL,MarginalandAverageExpenditure,UnitsofInput,Price(perunitofinput),0,1,2,3,4,6,5,5,10,15,20,54,Chapter1,FactorMarketswithMonopsonyPower,ExamplesofMonopsonyPowerGovernmentSoldiersMissilesB2BombersNASAAstronautsCompanytown,55,Chapter1,MonopsonyPowerintheMarketforBaseballPlayers,BaseballownerscreatedamonopsonisticcartelReserveclausepreventedcompetitionforplayers1975-Freeagencyaftersixyears1969-Averagesalarywas$42,000($200,000in1999dollars)1997-Averagesalarywas$1,383,578,56,Chapter1,Baseballownerscreatedamonopolisticcartel1975salarieswere25%ofteamexpenditures1980salarieswere40%ofteamexpenditures,MonopsonyPowerintheMarketforBaseballPlayers,57,Chapter1,Te
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- forFactorInputs 微观经济学 华侨大学 JeffCaldw
![提示](https://static.bdocx.com/images/bang_tan.gif)