中级微观管理学与利润管理知识分析.ppt

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1、Chapter9PROFITMAXIMIZATIONCopyright©2005bySouth-Western,adivisionofThomsonLearning.Allrightsreserved.1TheNatureofFirmsAfirmisanassociationofindividualswhohaveorganizedthemselvesforthepurposeofturninginputsintooutputsDifferentindividualswillprovidedifferenttypesofinputsthenatureoft

2、hecontractualrelationshipbetweentheprovidersofinputstoafirmmaybequitecomplicated2ContractualRelationshipsSomecontractsbetweenprovidersofinputsmaybeexplicitmayspecifyhours,workdetails,orcompensationOtherarrangementswillbemoreimplicitinnaturedecision-makingauthorityorsharingoftasks3

3、ModelingFirms’BehaviorMosteconomiststreatthefirmasasingledecision-makingunitthedecisionsaremadebyasingledictatorialmanagerwhorationallypursuessomegoalusuallyprofit-maximization4ProfitMaximizationAprofit-maximizingfirmchoosesbothitsinputsanditsoutputswiththesolegoalofachievingmaxim

4、umeconomicprofitsseekstomaximizethedifferencebetweentotalrevenueandtotaleconomiccosts5ProfitMaximizationIffirmsarestrictlyprofitmaximizers,theywillmakedecisionsina“marginal”wayexaminethemarginalprofitobtainablefromproducingonemoreunitofhiringoneadditionallaborer6OutputChoiceTotalr

5、evenueforafirmisgivenbyR(q)=p(q)qIntheproductionofq,certaineconomiccostsareincurred[C(q)]Economicprofits()arethedifferencebetweentotalrevenueandtotalcosts(q)=R(q)–C(q)=p(q)q–C(q)7OutputChoiceThenecessaryconditionforchoosingthelevelofqthatmaximizesprofitscanbefoundbysettingthed

6、erivativeofthefunctionwithrespecttoqequaltozero8OutputChoiceTomaximizeeconomicprofits,thefirmshouldchoosetheoutputforwhichmarginalrevenueisequaltomarginalcost9Second-OrderConditionsMR=MCisonlyanecessaryconditionforprofitmaximizationForsufficiency,itisalsorequiredthat“marginal”pro

7、fitmustbedecreasingattheoptimallevelofq10ProfitMaximizationoutputrevenues&costsRCq*ProfitsaremaximizedwhentheslopeoftherevenuefunctionisequaltotheslopeofthecostfunctionThesecond-orderconditionpreventsusfrommistakingq0asamaximumq011MarginalRevenueIfafirmcansellallitwisheswithouthav

8、inganyeffectonmarketprice,margina