范里安微观第15章讲义.ppt

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1、ChapterFifteenMarketDemand市场需求StructureFromIndividualtoMarketDemandFunctionsElasticitiesRevenueandown-priceelasticityofdemandMarginalrevenueandpriceelasticityFromIndividualtoMarketDemandFunctionsThinkofaneconomycontainingnconsumers,denotedbyi=1,…,n.Consumeri’sordinarydemandfunctionforcommodityj

2、isFromIndividualtoMarketDemandFunctionsWhenallconsumersareprice-takers,themarketdemandfunctionforcommodityjisIfallconsumersareidenticalthenwhereM=nm.FromIndividualtoMarketDemandFunctionsThemarketdemandcurveisthe“horizontalsum”oftheindividualconsumers’demandcurves.E.g.supposethereareonlytwoco

3、nsumers;i=A,B.FromIndividualtoMarketDemandFunctionsp1p12015p1’p1”p1’p1”FromIndividualtoMarketDemandFunctionsp1p1p12015p1’p1”p1’p1”p1’FromIndividualtoMarketDemandFunctionsp1p1p12015p1’p1”p1’p1”p1’p1”FromIndividualtoMarketDemandFunctionsp1p1p1201535p1’p1”p1’p1”p1’p1”The“horizontalsum”ofthedemand

4、curvesofindividualsAandB.Elasticities（弹性）Elasticitymeasuresthe“sensitivity”ofonevariablewithrespecttoanother.TheelasticityofvariableXwithrespecttovariableYisEconomicApplicationsofElasticityEconomistsuseelasticitiestomeasurethesensitivityofquantitydemandedofcommodityiwithrespecttothepriceofcomm

5、odityi(own-priceelasticityofdemand，需求的自价格弹性)demandforcommodityiwithrespecttothepriceofcommodityj(cross-priceelasticityofdemand，需求的交叉价格弹性).EconomicApplicationsofElasticitydemandforcommodityiwithrespecttoincome(incomeelasticityofdemand需求的收入弹性)quantitysuppliedofcommodityiwithrespecttothepriceofcom

6、modityi(own-priceelasticityofsupply供给的自价格弹性)EconomicApplicationsofElasticityquantitysuppliedofcommodityiwithrespecttothewagerate(elasticityofsupplywithrespecttothepriceoflabor)andmany,manyothers.Own-PriceElasticityofDemandQ:Whynotuseademandcurve’sslopetomeasurethesensitivityofquantitydemandedto

7、achangeinacommodity’sownprice?Own-PriceElasticityofDemandX1*5501010slope=-2slope=-0.2p1p1InwhichcaseisthequantitydemandedX1*moresensitivetochangestop1?X1*Own-PriceElasticityofDemand5501010slope=-2slope=-0.2p1p1X1*X1*Inwhichca