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时间:2019-09-04
《《微观经济学》清华大学课件 Ch15 Market Demand1》由会员上传分享,免费在线阅读,更多相关内容在行业资料-天天文库。
1、ChapterFifteenMarketDemandFromIndividualtoMarketDemandFunctionsThinkofaneconomycontainingnconsumers,denotedbyi=1,…,n.Consumeri’sordinarydemandfunctionforcommodityjisFromIndividualtoMarketDemandFunctionsWhenallconsumersareprice-takers,themarketdemandfunctionf
2、orcommodityjisFromIndividualtoMarketDemandFunctionsp1p1p1201535p1’p1”p1’p1”p1’p1”The“horizontalsum”ofthedemandcurvesofindividualsAandB.ElasticitiesElasticitymeasuresthe“sensitivity”ofonevariablewithrespecttoanother.TheelasticityofvariableXwithrespecttovari
3、ableYisOwn-PriceElasticityofDemandQ:Whynotjustusetheslopeofademandcurvetomeasurethesensitivityofquantitydemandedtoachangeinacommodity’sownprice?A:Becausethevalueofsensitivitythendependsuponthe(arbitrary)unitsofmeasurementusedforquantitydemanded.ArcandPointEl
4、asticitiesAn“average”own-priceelasticityofdemandforcommodityioveranintervalofvaluesforpiisanarc-elasticity,usuallycomputedbyamid-pointformula.Elasticitycomputedforasinglevalueofpiisapointelasticity.ArcOwn-PriceElasticitypiXi*pi’pi’+hpi’-hWhatisthe“average”ow
5、n-priceelasticityofdemandforpricesinanintervalcenteredonpi’?ArcOwn-PriceElasticitypiXi*pi’pi’+hpi’-hWhatisthe“average”own-priceelasticityofdemandforpricesinanintervalcenteredonpi’?PointOwn-PriceElasticitypiXi*pi’pi’+hpi’-hWhatistheown-priceelasticityofd
6、emandinaverysmallintervalofpricescenteredonpi’?Ash®0,PointOwn-PriceElasticitypiXi*pi’Whatistheown-priceelasticityofdemandinaverysmallintervalofpricescenteredonpi’?istheelasticityatthepointPointOwn-PriceElasticityE.g.Supposepi=a-bXi.ThenXi=(a-pi)/bandThere
7、fore,PointOwn-PriceElasticitypiXi*api=a-bXi*a/ba/2a/2bPointOwn-PriceElasticitypiXi*api=a-bXi*a/ba/2a/2bown-priceelasticown-priceinelastic(own-priceunitelastic)PointOwn-PriceElasticityE.g.ThensoPointOwn-PriceElasticitypiXi*everywherealongthedemandcurve.Reven
8、ueandOwn-PriceElasticityofDemandIfraisingacommodity’spricecauseslittle(alotof)decreaseinquantitydemanded,thensellers’revenuesrise.Henceown-priceinelastic(elastic)demandcausessellers’revenuestori
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