微观经济学精华讲义英文版(4) - 图文

Market Supply with Entry and Exit

(a) Firm’s Zero-Profit Condition

PricePrice(b) Market Supply

MCLACP= minLACSupply0Quantity (firm)0Quantity (market)汪艳

经济管理学院

双语教学示范课程

37

2013-7-23

?A Shift in Demand in the Short Run and Long Run

?An increase in demand raises P and Qin the short run.

?Firms earn profits because P now exceeds AC.

汪艳

经济管理学院

双语教学示范课程

382013-7-23

An Increase in Demand in the Short Run and Long Run

(a) Initial Condition

P

P

MC1P1

LAC1P1

AShort-run supply D10Q (firm)0

Q1

Q (market)392013-7-23

汪艳

经济管理学院

双语教学示范课程

(b) Short-Run Response

P

ProfitP2P1MC1LAC1PS1P2P1BAD2D10Q (firm)0Q1

Q2Q (market)汪艳

经济管理学院

双语教学示范课程

402013-7-23