中微课件范里安版 Micro Ch25.ppt

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1、ChapterTwenty-FiveMonopolyBehaviorWhatdowedointhischapter?Wehavestudiedthesituationwhenamonopolistchargesauniformpriceforall.Butoftentime,amonopolistcanchargedifferentpricestodifferentpeople?E.g.studentdiscount.Whyandhow?TypesofPriceDiscrimination1st-degree:Eachoutputunitissoldatadiffere

2、ntprice.Pricesmaydifferacrossbuyers.2nd-degree:Thepricepaidbyabuyercanvarywiththequantitydemandedbythebuyer.Butallcustomersfacethesamepriceschedule.E.g.bulk-buyingdiscounts.TypesofPriceDiscrimination3rd-degree:Pricepaidbybuyersinagivengroupisthesameforallunitspurchased.Butpricemaydiffera

3、crossbuyergroups.E.g.,seniorcitizenandstudentdiscountsvs.nodiscountsformiddle-agedpersons.First-degreePriceDiscriminationp(y)y$/outputunitMC(y)Sellthethunitfor$First-degreePriceDiscriminationp(y)y$/outputunitMC(y)Sellthethunitfor$Lateronsellthethunitfor$Finallysellthethunitformarginal

4、cost,$First-degreePriceDiscriminationp(y)y$/outputunitMC(y)Themonopolistgetsthemaximumpossiblegainsfromtrade.PSFirst-degreepricediscriminationisPareto-efficient.Third-degreePriceDiscriminationPricepaidbybuyersinagivengroupisthesameforallunitspurchased.Butpricemaydifferacrossbuyergroup

5、s.Third-degreePriceDiscriminationAmonopolistmanipulatesmarketpricebyalteringthequantityofproductsuppliedtothatmarket.Sothequestion“Whatdiscriminatorypriceswillthemonopolistset,oneforeachgroup?”isreallythequestion“Howmanyunitsofproductwillthemonopolistsupplytoeachgroup?”Third-degreePriceD

6、iscriminationTwomarkets,1and2.y1isthequantitysuppliedtomarket1.Market1’sinversedemandfunctionisp1(y1).y2isthequantitysuppliedtomarket2.Market2’sinversedemandfunctionisp2(y2).Third-degreePriceDiscriminationForgivensupplylevelsy1andy2thefirm’sprofitisWhatvaluesofy1andy2maximizeprofit?Third

7、-degreePriceDiscriminationTheprofit-maximizationconditionsareThird-degreePriceDiscriminationandsotheprofit-maximizationconditionsareandThird-degreePriceDiscriminationMR1(y1)=MR2(y2)saysthattheallocationy1,y2maximizestherevenuefromsellingy1+y2outputunits.E.g.ifMR1(y1)>MR2(