🗊Презентация Monopoly. Competitive firm monopoly

Категория: Экономика и Финансы
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Monopoly. Competitive firm monopoly, слайд №1Monopoly. Competitive firm monopoly, слайд №2Monopoly. Competitive firm monopoly, слайд №3Monopoly. Competitive firm monopoly, слайд №4Monopoly. Competitive firm monopoly, слайд №5Monopoly. Competitive firm monopoly, слайд №6Monopoly. Competitive firm monopoly, слайд №7Monopoly. Competitive firm monopoly, слайд №8Monopoly. Competitive firm monopoly, слайд №9Monopoly. Competitive firm monopoly, слайд №10Monopoly. Competitive firm monopoly, слайд №11Monopoly. Competitive firm monopoly, слайд №12Monopoly. Competitive firm monopoly, слайд №13
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Monopoly A competitive firm chooses how much to produce at the “market price”. A single seller – monopoly – chooses at what price to sell.
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Monopoly A competitive firm chooses how much to produce at the “market price”. A single seller – monopoly – chooses at what price to sell.

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Monopoly. Competitive firm monopoly, слайд №2
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The Tradeoff The monopoly can either choose price or quantity, but not both. The monopolist faces a tradeoff between a higher price and lower sales (smaller quantity) and a lower price and higher sales (greater quantity): P ↓ → X ↑
Описание слайда:
The Tradeoff The monopoly can either choose price or quantity, but not both. The monopolist faces a tradeoff between a higher price and lower sales (smaller quantity) and a lower price and higher sales (greater quantity): P ↓ → X ↑

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Revenue Profit = Revenue – Total Costs Revenue = TR = Unit price • Quantity = P • X Increasing X is profitable if it increases Revenue more than it increases Costs.
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Revenue Profit = Revenue – Total Costs Revenue = TR = Unit price • Quantity = P • X Increasing X is profitable if it increases Revenue more than it increases Costs.

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Marginal Revenue Marginal Revenue = MR= the change in total revenue from increasing output by a unit. Marginal Cost = MC = the change in total costs from increasing output by a unit. Increasing output (decreasing price) is profitable if MR is greater than MC. Increasing output (decreasing price) is never profitable if MR < 0.
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Marginal Revenue Marginal Revenue = MR= the change in total revenue from increasing output by a unit. Marginal Cost = MC = the change in total costs from increasing output by a unit. Increasing output (decreasing price) is profitable if MR is greater than MC. Increasing output (decreasing price) is never profitable if MR < 0.

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Monopoly. Competitive firm monopoly, слайд №6
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Profit Maximization �� = TR(X)- TC(X) ��’ = MR(X) – MC(X)=0 Monopoly chooses X so that : MR(X) = MC(X)
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Profit Maximization �� = TR(X)- TC(X) ��’ = MR(X) – MC(X)=0 Monopoly chooses X so that : MR(X) = MC(X)

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Monopoly Pricing
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Monopoly Pricing

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Monopoly. Competitive firm monopoly, слайд №9
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Elasticity E=1: Changing price doesn’t change Revenue – PX unchanged. E>1: Decreasing price increases Revenue – PX increases (Demand is price sensitive) E<1: Decreasing price reduces Revenue – PX decreases. (Demand is price insensitive) .
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Elasticity E=1: Changing price doesn’t change Revenue – PX unchanged. E>1: Decreasing price increases Revenue – PX increases (Demand is price sensitive) E<1: Decreasing price reduces Revenue – PX decreases. (Demand is price insensitive) .

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Elasticity and Monopoly Pricing Can be shown that : MR = P [1 - ]. Thus, if E < 1, MR < 0 → Monopoly never produces in region in which E < 1. This implies that the monopoly pricing rule can be written: = where is the (relative) markup (difference between price and marginal cost) → Markup decreases with elasticity.
Описание слайда:
Elasticity and Monopoly Pricing Can be shown that : MR = P [1 - ]. Thus, if E < 1, MR < 0 → Monopoly never produces in region in which E < 1. This implies that the monopoly pricing rule can be written: = where is the (relative) markup (difference between price and marginal cost) → Markup decreases with elasticity.

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Example Suppose marginal cost is a constant, c, and E=2. Then = = → p = 2c. That is, the monopoly price is a constant markup over cost. In other words, in this case, if the marginal cost goes up by 1 dollar, the monopoly price increases by 2 dollars.
Описание слайда:
Example Suppose marginal cost is a constant, c, and E=2. Then = = → p = 2c. That is, the monopoly price is a constant markup over cost. In other words, in this case, if the marginal cost goes up by 1 dollar, the monopoly price increases by 2 dollars.

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Monopoly. Competitive firm monopoly, слайд №13
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