微观经济学讲义垄断资料下载.pdf

微观经济学讲义垄断资料下载.pdf

《微观经济学讲义垄断资料下载.pdf》由会员分享，可在线阅读，更多相关《微观经济学讲义垄断资料下载.pdf（30页珍藏版）》请在冰点文库上搜索。

Definemonopoly.Explainthefourmainreasonsmonopoliesarise.Explainhowamonopolychoosespriceandoutput.Useagraphtoillustratehowmonopolyaffectseconomicsurplus.Discussgovernmentpoliciestowardmonopoly.LEARNINGOBJECTIVES123453of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicyIsAnyFirmEverReallyaMonopoly?

LEARNINGOBJECTIVE1MonopolyTheonlysellerofagoodorservicethatdoesnothaveaclosesubstitute.Anarrowdefinitionofmonopolyisthatafirmisamonopolyifitcanignoretheactionsofotherfirms.Abroaddefinitionofmonopolyisthatafirmisamonopolyifitcanretaineconomicprofitsinthelongrun.4of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicyTimeWarnerCable,adivisionoftheTimeWarnerCompany,operatescabletelevisionssystemsintheU.S.AstheonlyproviderofcabletelevisioninManhattanithasamonopolyinthismarket.TherearefewmonopolyfirmsintheU.S.becausewhenafirmearnsaneconomicprofit,otherfirmshaveanincentivetoenterthemarket.5of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicyWhereDoMonopoliesComeFrom?

LEARNINGOBJECTIVE2Barrierstoentrymaybehighenoughtokeepoutcompetingfirmsforfourmainreasons:

1.Governmentblockstheentryofmorethanonefirmintoamarket.2.Onefirmhascontrolofakeyrawmaterialnecessarytoproduceagood.3.Thereareimportantnetworkexternalitiesinsupplyingthegoodorservice.4.Economiesofscalearesolargethatonefirmhasanaturalmonopoly.6of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

EntryBlockedbyGovernmentAction1.Bygrantingapatentorcopyrighttoanindividualorfirm,whichgivesittheexclusiverighttoproduceaproduct.2.Bygrantingafirmapublicfranchise,whichmakesittheexclusivelegalproviderofagoodorservice.7of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicyTheEndoftheChristmasPlantMonopoly14-2Atonetime,theEckefamilyhadamonopolyongrowingpoinsettias,butmanynewfirmsenteredtheindustry.8of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

PATENTSANDCOPYRIGHTSPatentTheexclusiverighttoaproductforaperiodof20yearsfromthedatetheproductwasinvented.CopyrightThelegalrightofthecreatorofabook,film,orpieceofmusictoexclusiverighttothecreation.PUBLICFRANCHISESPublicfranchiseAdesignationbythegovernmentthatafirmistheonlylegalproviderofagoodorservice.CONTROLOFAKEYRESOURCEAnotherwayforafirmtobecomeamonopolyisbycontrollingakeyresource.Thishappensinfrequentlybecausemostresourcesarewidelyavailablefromavarietyofsuppliers.9of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

NetworkExternalitiesThereareimportantnetworkexternalitiesinsupplyingthegoodorservice.Networkexternalitiesexistintheconsumptionofaproductifthevalueoftheproductincreaseswiththenumberofpeoplewhoareusingit.Someeconomistsarguethatnetworkexternalitiesareabarriertoentry,butothereconomistsbelievedominantpositionsbyfirmsreflecttheirefficiencyinsatisfyingconsumerpreferences.10of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

NaturalMonopolyNaturalmonopolyAsituationinwhicheconomiesofscalearesolargethatonefirmcansupplytheentiremarketataloweraveragetotalcostthancantwoormorefirms.14-1AverageTotalCostCurveforaNaturalMonopoly11of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicyHowDoesaMonopolyChoosePriceandOutput?

LEARNINGOBJECTIVE3MarginalRevenueOnceAgainRememberthatwhenafirmcutsthepriceofaproduct,onegoodthingandonebadthinghappens:

?

Thegoodthing:

Itsellsmoreunitsoftheproduct.?

Thebadthing:

Itreceiveslessrevenuefromeachunitthanitwouldhavereceivedatthehigherprice.12of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MarginalRevenueOnceAgain14-2CalculatingaMonopolysRevenue13of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

ProfitMaximizationForaMonopolist14-3Profit-MaximizingPriceandOutputforaMonopoly14of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicy14-2LEARNINGOBJECTIVE3FindingProfitMaximizingPriceandOutputforaMonopolistPRICEQUANTITYTOTALREVENUEMARGINALREVENUE（MR=TR/Q）TOTALCOSTMARGINALCOST（MC=TC/Q）$173$51$56$16464$1363$7$1557511718$146849809$1379179010$12896510111DontAssumeThatChargingaHigherPriceIsAlwaysMoreProfitableForaMonopolist15of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicyDoesMonopolyReduceEconomicEfficiency?

LEARNINGOBJECTIVE4ComparingMonopolyandCompetition14-4WhatHappensIfaPerfectlyCompetitiveIndustryBecomesaMonopoly?

16of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MeasuringtheEfficiencyLossesfromMonopoly14-5TheInefficiencyofMonopolyWecansummarizetheeffectsofmonopolyasfollows:

1.Monopolycausesareductioninconsumersurplus.2.Monopolycausesanincreaseinproducersurplus.3.Monopolycausesadeadweightloss,whichrepresentsareductionineconomicefficiency.17of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

HowLargeAretheEfficiencyLossesDuetoMonopoly?

MarketpowerTheabilityofafirmtochargeapricegreaterthanmarginalcost.MarketPowerandTechnologicalChangeTheintroductionofnewproductsrequiresfirmstospendfundsonresearchanddevelopment.Becausefirmswithmarketpoweraremorelikelytoearneconomicprofits,theyarealsomorelikelytointroducenewproducts.18of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicyGovernmentPolicytowardMonopolyLEARNINGOBJECTIVE5Becausemonopoliesreduceconsumerwelfareandefficiency,mostgovernmentsregulatetheirbehavior.CollusionAnagreementamongfirmstochargethesameprice,ortootherwisenotcompete.AntitrustLawsandAntitrustEnforcementAntitrustlawsLawsaimedateliminatingcollusionandpromotingcompetitionamongfirms.19of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicyGovernmentPolicytowardMonopolyAntitrustLawsandAntitrustEnforcementImportantU.S.AntitrustLaws141LAWDATEPURPOSEShermanAct1890Prohibited“restraintoftrade,”includingpricefixingandcollusion.Alsooutlawedmonopolization.ClaytonAct1914Prohibitedfirmsfrombuyingstockincompetitorsandfromhavingdirectorsserveontheboardsofcompetingfirms.FederalTradeCommissionAct1914EstablishedtheFederalTradeCommission（FTC）tohelpadministerantitrustlaws.Robinson-PatmanAct1936Prohibitedchargingbuyersdifferentpricesiftheresultwouldreducecompetition.Cellar-KefauverAct1950Toughenedrestrictionsonmergersbyprohibitinganymergersthatwouldreducecompetition.20of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicyGovernmentPolicytowardMonopolyMergers:

TheTrade-offbetweenMarketPowerandEfficiencyHorizontalmergersMergersbetweenfirmsinthesameindustry.VerticalmergersMergersbetweenfirmsatdifferentstagesofproductionofagood.21of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

TheTrade-OffbetweenMarketPowerandEfficiency14-6AMergerThatMakesConsumersBetterOff22of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

MonopolyandAntitrustPolicyGovernmentPolicytowardMonopolyTheDepartmentofJusticeandtheFederalTradeCommissionMergerGuidelines1.Marketdefinition2.Measureofconcentration3.Mergerstandards23of302006PrenticeHallBusinessPublishingEconomicsR.GlennHubbard,AnthonyPatrickOBrien1sted.CHAPTER14:

Mon