[經(jīng)濟(jì)學(xué)]中級微觀經(jīng)濟(jì)學(xué)范里安課件ch(參考版)
2024-10-22 02:23本頁面
【正文】 . Yellowstone. –urban traffic congestion. 。 hence x* = 4. Merger and Internalization In the merged firm the profit function is ? m s f x s f s x f xf( , , ) ( ) .? ? ? ? ? ? ?12 10 42 2 2The marginal cost of pollution is thus MC x fm x( ) ( )? ? ?2 4Merger and Internalization In the merged firm the profit function is ? m s f x s f s x f xf( , , ) ( ) .? ? ? ? ? ? ?12 10 42 2 2The marginal cost of pollution is MC x fm x( ) ( )? ? ?2 4? ? ?2 4( ) ( ).x MC xsMerger and Internalization In the merged firm the profit function is ? m s f x s f s x f xf( , , ) ( ) .? ? ? ? ? ? ?12 10 42 2 2The marginal cost of pollution is MC x fm x( ) ( )? ? ?2 4? ? ?2 4( ) ( ).x MC xsThe merged firm’s marginal pollution cost is larger because it faces the full cost of its own pollution through increased costs of production in the fishery, so less pollution is produced by the merged firm. Merger and Internalization ?But why is the merged firm’s pollution level of xm = 2 efficient? Merger and Internalization ?But why is the merged firm’s pollution level of xm = 2 efficient? ?The external cost inflicted on the fishery is xf, so the marginal external pollution cost is MC fxE ? .Merger and Internalization ?But why is the merged firm’s pollution level of xm = 2 efficient? ?The external cost inflicted on the fishery is xf, so the marginal external pollution cost is ?The steel firm’s cost of reducing pollution is MC fxE ? .? ? ?MC x xm ( ) ( ).2 4Merger and Internalization ?But why is the merged firm’s pollution level of xm = 2 efficient? ?The external cost inflicted on the fishery is xf, so the marginal external pollution cost is ?The steel firm’s cost of reducing pollution is ?Efficiency requires MC fxE ? .? ? ?MC x xm ( ) ( ).2 4MC MC x f xxE m? ? ? ? ?( ) ( ).2 4Merger and Internalization ?Merger therefore internalizes an externality and induces economic efficiency. ?How else might internalization be caused so that efficiency can be achieved? The Tragedy of the Commons ?Consider a grazing area owned “in mon” by all members of a village. ?Villagers graze cows on the mon. ?When c cows are grazed, total milk production is f(c), where f’0 and f”0. ?How should the villagers graze their cows so as to maximize their overall ine? The Tragedy of the Commons c Milk f(c) The Tragedy of the Commons ?Normalize the price of a unit of milk to $1 and let the relative cost of grazing a cow be $pc. Then the profit function for the entire village is and the village’s problem is to ? ( ) ( )c f c p cc? ?m a x ( ) ( ) .c cc f c p c? ? ?0 ?The Tragedy of the Commons m a x ( ) ( ) .c cc f c p c? ? ?0 ?The inemaximizing number of cows to graze, c*, satisfies ? ?f c p c( ). the marginal ine gain from the last cow grazed must equal the marginal cost of grazing it. The Tragedy of the Commons c Milk f(c) pcc slope = f’(c*) c* slope = pc The Tragedy of the Commons c Milk f(c) pcc slope = f’(c*) c* slope = pc Maximal ine f(c*) The Tragedy of the Commons ?For c = c*, the average gain per cow grazed is because f’ 0 and f” 0. ? ( *)*( *) **( *)*ccf c p ccf cc pc c? ? ? ? ? 0The Tragedy of the Commons c Milk f(c) pcc slope = f’(c*) c* f cc p c( *)* ?f(c*) The Tragedy of the Commons ?For c = c*, the average gain per cow grazed is because f’ 0 and f” 0. So the economic profit from introducing one more cow is positive. ?Since nobody owns the mon, entry is not restricted. ? ( *)*( *) **( *)*ccf c p ccf cc pc c? ? ? ? ? 0The Tragedy of the Commons ?Entry continues until the economic profit of grazing another cow is zero。 ) ? ? ?10 2Notice that the fishery produces less, and earns less profit, as the steel firm’s pollution level increases. f x* .? ?5 210 2? ?f x .Production Externalities The steel firm, ignoring its external cost inflicted upon the fishery, chooses x* = 4, so the fishery’s profitmaximizing output level given the steel firm’s choice of pollution level is f* = 3, giving the fishery a maximum profit level of .
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