Consumers, Producers, and the Efficiency of Markets消费者，生产者，与市场效率.ppt

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1、Consumers,Producers,andtheEfficiencyofMarketsChapter7Copyright©2004bySouth-Western,adivisionofThomsonLearning.Chapter7Consumers,producersandtheefficiencyofmarketsexaminethelinkbetweenbuyer’swillingnesstopayforagoodandthedemandlearnhowtodefineandmeasureconsumersurplusexaminethelinkbetweensellers’cos

2、tsofproducingagoodandthesupplycurve.learnhowtodefineandmeasureproducersurplus.seethattheequilibriumofsupplyanddemandmaximizestotalsurplusinamarketConceptsexplanationWelfareeconomicswillingnesstopayconsumersurpluscostproducersurplusefficiencyequityBackRevisitingtheMarketEquilibriumDotheequilibriumpr

3、iceandquantitymaximizethetotalwelfareofbuyersandsellers?Marketequilibriumreflectsthewaymarketsallocatescarceresources.Whetherthemarketallocationisdesirableisdeterminedbywelfareeconomics.WelfareEconomicsWelfareeconomicsisthestudyofhowtheallocationofresourcesaffectseconomicwell-being.Buyersandsellers

4、receivebenefitsfromtakingpartinthemarket.Theequilibriuminamarketmaximizesthetotalwelfareofbuyersandsellers.WelfareEconomicsEquilibriuminthemarketresultsinmaximumbenefits,andthereforemaximumtotalwelfareforboththeconsumersandtheproducersoftheproduct.WelfareEconomicsConsumersurplusmeasureseconomicwelf

5、arefromthebuyer’sside.Producersurplusmeasureseconomicwelfarefromtheseller’sside.ConsumerSurplusWillingnesstopayisthemaximumpricethatabuyeriswillingandabletopayforagood.Itmeasureshowmuchthebuyervaluesthegoodorservice.ConsumerSurplusConsumersurplusistheamountabuyeriswillingtopayforagoodminustheamount

6、thebuyeractuallypaysforit.FourPossibleBuyers’WillingnesstoPay...ConsumerSurplusThemarketdemandcurvedepictsthevariousquantitiesthatbuyerswouldbewillingandabletopurchaseatdifferentprices.FourPossibleBuyers’WillingnesstoPay...MeasuringConsumerSurpluswiththeDemandCurve...PriceofAlbum5070800$1001234Quan

7、tityofAlbumsJohn’swillingnesstopayPaul’swillingnesstopayGeorge’swillingnesstopayRingo’swillingnesstopayDemandMeasuringConsumerSurpluswiththeDemandCurve...PriceofAlbum5070800$1001234QuantityofAlbumsDemandJoh