Chap13The-Costs-of-Production(曼昆经济学原理-微观-英文版).ppt

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1、TheCostsofProductionChapter13Copyright©2001byHarcourt,Inc.Allrightsreserved.  Requestsforpermissiontomakecopiesofanypartoftheworkshouldbemailedto:PermissionsDepartment,HarcourtCollegePublishers,6277SeaHarborDrive,Orlando,Florida32887-6777.TheCostsofProductionTheLawofSupply:Firmsarewillingtopro

2、duceandsellagreaterquantityofagoodwhenthepriceofthegoodishigh.Thisresultsinasupplycurvethatslopesupward.TheFirm’sObjectiveMaximumProfitsTheeconomicgoalofthefirmistomaximizeprofits.AFirm’sTotalRevenueandTotalCostTotalRevenueTheamountthatthefirmreceivesforthesaleofitsoutput.TotalCostTheamountthatthe

3、firmpaystobuyinputs.AFirm’sProfitProfitisthefirm’stotalrevenueminusitstotalcost.Profit=Totalrevenue-TotalcostCostsasOpportunityCostsAfirm’scostofproductionincludesalltheopportunitycostsofmakingitsoutputofgoodsandservices.ExplicitandImplicitCostsAfirm’scostofproductionincludeexplicitcostsandimplici

4、tcosts.Explicitcostsinvolveadirectmoneyoutlayforfactorsofproduction.Implicitcostsdonotinvolveadirectmoneyoutlay.EconomicProfitversusAccountingProfitEconomistsmeasureafirm’seconomicprofitastotalrevenueminusalltheopportunitycosts(explicitandimplicit).Accountantsmeasuretheaccountingprofitasthefirm’st

5、otalrevenueminusonlythefirm’sexplicitcosts.Inotherwords,theyignoretheimplicitcosts.EconomicProfitversusAccountingProfitWhentotalrevenueexceedsbothexplicitandimplicitcosts,thefirmearnseconomicprofit.Economicprofitissmallerthanaccountingprofit.EconomicProfitversusAccountingProfitRevenueTotalopportun

6、itycostsHowanEconomistViewsaFirmExplicitcostsEconomicprofitImplicitcostsExplicitcostsAccountingprofitHowanAccountantViewsaFirmRevenueAProductionFunctionandTotalCostTheProductionFunctionTheproductionfunctionshowstherelationshipbetweenquantityofinputsusedtomakeagoodandthequantityofoutputofthatgood.M

7、arginalProductThemarginalproductofanyinputintheproductionprocessistheincreaseinthequantityofoutputobtainedfromanadditionalunitofthatinput.MarginalProductAdditionalinputAdditionaloutput=MarginalproductDiminishingM