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or MPK, is the amount of extra output the firm gets from an extra unit of capital, holding the amount of labor constant: MPK = F (K + 1, L) – F (K, L). Thus, the MPK is the difference between the amount of output produced with K+1 units of capital and that produced with K units of capital. Like labor, capital is subject to diminishing marginal product. The increase in profit from renting an additional machine is the extra revenue from selling the output of that machine minus the machine’s rental price: D Profit = D Revenue D Cost = (P MPK) – R. To maximize profit, the firm continues to rent more capital until the MPK falls to equal the real rental price, MPK = R/P. The real rental price of capital is the rental price measured in units of goods rather than in dollars. The firm demands each factor of production until that factor’s marginal product falls to equal its real factor price. 第三章 國民收入 slide 21 The ine that remains after firms have paid the factors of production is the economic profit of the firms’ owners. Real economic profit is: Economic Profit = Y (MPL L) (MPK K) or to rearrange: Y = (MPL L) (MPK K) + Economic Profit. Total ine is divided among the returns to labor, the returns to capital, and economic profit. How large is economic profit? If the production function has the property of constant returns to scale, then economic profit is zero. This conclusion follows from Euler’s theorem, which states that if the production function has constant returns to scale, then F(K,L) = (MPK K) (MPL L) If each factor of production is paid its marginal product, then the sum of these factor payments equals total output. In other words, constant returns to scale, profit maximization,and petition together imply that economic profit is zero. 第三章 國民收入 slide 22 The CobbDouglas Production Function –Douglas Production Function Paul Douglas Paul Douglas observed that the division of national ine between capital and labor has been roughly constant over time. In other words, the total ine of workers and the total ine of capital owners grew at almost exactly the same rate. He then wondered what conditions might lead to constant factor shares. Cobb, a mathematician, said that the production function would need to have the property that: Capital Ine = MPK K = α Labor Ine = MPL L = (1 α) Y 第三章 國民收入 slide 23 勞動的需求 ?假定市場是完全競爭的: 即:每個廠商面臨的 W, R和 P 都是給定的 ?基本思想: 如果成本小于收益,那么廠商就會增加勞動雇傭。 成本 = 實際工資 利潤 = 勞動邊際產(chǎn)品價值 第三章 國民收入 slide 24 勞動的邊際產(chǎn)品 (MPL) 定義 : 廠商運用額外的一單位勞動投入能夠生產(chǎn)出來的一單位產(chǎn)出 : (假定其它投入不變 ): MPL = F (K, L +1) – F (K, L) 第三章 國民收入 slide 25 練習 : 計算并繪 MPL圖 a. 計算每一個勞動投入量 L上的 MPL b. 畫出生產(chǎn)函數(shù)圖 c. 繪出 MPL 曲線圖(其中橫軸表示勞動投入量 L,縱軸表示 MPL) L Y MPL 0 0 . 1 10 ? 2 19 ? 3 27 8 4 34 ? 5 40 ? 6 45 ? 7 49 ? 8 52 ? 9 54 ? 10 55 ? 第三章 國民收入 slide 26 答案: 生產(chǎn)函數(shù)01020304050600 1 2 3 4 5 6 7 8 9 10勞動 ( L )產(chǎn)出(Y)第三章 國民收入 slide 27 Y 產(chǎn)出 生產(chǎn)函數(shù)與 MPL L