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1、ChapterNineteenProfit-MaximizationEconomicProfitAfirmusesinputsj=1…,mtomakeproductsi=1,…n.Outputlevelsarey1,…,yn.Inputlevelsarex1,…,xm.Productpricesarep1,…,pn.Inputpricesarew1,…,wm.TheCompetitiveFirmThecompetitivefirmtakesalloutputpricesp1,…,pnandallinputpricesw1,…,wmasgivenconstant
2、s.EconomicProfitTheeconomicprofitgeneratedbytheproductionplan(x1,…,xm,y1,…,yn)isEconomicProfitOutputandinputlevelsaretypicallyflows.(流量）E.g.x1mightbethenumberoflaborunitsusedperhour.（每小时劳动投入量）Andy3mightbethenumberofcarsproducedperhour.（每小时产出量）Consequently,profitistypicallyaflowalso;
3、e.g.thenumberofdollarsofprofitearnedperhour.EconomicProfitHowdowevalueafirm?如何为一个公司订价？Supposethefirm’sstreamofperiodiceconomicprofitsisP0,P1,P2,…andristherateofinterest.Thenthepresent-valueofthefirm’seconomicprofitstreamisEconomicProfitAcompetitivefirmseekstomaximizeitspresent-value
4、.一个竞争性企业为最大化利润流现值。How?EconomicProfitSupposethefirmisinashort-runcircumstanceinwhich（假定公司处于短期的生产环境）Itsshort-runproductionfunctionisEconomicProfitSupposethefirmisinashort-runcircumstanceinwhichItsshort-runproductionfunctionisThefirm’sfixedcostis anditsprofitfunctionisShort-RunIso-Prof
5、itLines短期等利润线A$Piso-profitline（等利润线）containsalltheproductionplansthatprovideaprofitlevel$P.A$Piso-profitline’sequationisShort-RunIso-ProfitLinesA$Piso-profitlinecontainsalltheproductionplansthatyieldaprofitlevelof$P.Theequationofa$Piso-profitlineisI.e.Short-RunIso-ProfitLines短期等利润线h
6、asaslopeofandaverticalinterceptofShort-RunIso-ProfitLinesIncreasing profityx1Short-RunProfit-Maximization短期公司利润最大化Thefirm’sproblemistolocatetheproductionplanthatattainsthehighestpossibleiso-profitline,giventhefirm’sconstraintonchoicesofproductionplans.（给定公司的生产计划约束，使生产计划尽可能地达到最高的等利润线
7、上。）Q:Whatisthisconstraint?（生产计划约束？）Short-RunProfit-MaximizationThefirm’sproblemistolocatetheproductionplanthatattainsthehighestpossibleiso-profitline,giventhefirm’sconstraintonchoicesofproductionplans.（生产计划的选择约束）Q:Whatisthisconstraint?（技术约束）A:Theproductionfunction.（生产函数）Short-RunPro
8、fit-Maximizationx1T
