chapter11平狄克微觀經(jīng)濟(jì)學(xué)課件-展示頁(yè)
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【正文】 have difficulty in achieving firstdegree price discrimination? ? Answer 1) Too many customers (impractical) 2) Could not estimate the reservation price for each customer Additional Profit From Perfect FirstDegree Price Discrimination Chapter 11 Slide 14 Price Discrimination ? First Degree Price Discrimination ? The model does demonstrate the potential profit (incentive) of practicing price discrimination to some degree. Chapter 11 Slide 15 Price Discrimination ? First Degree Price Discrimination ? Examples of imperfect price discrimination where the seller has the ability to segregate the market to some extent and charge different prices for the same product: ?Lawyers, doctors, accountants ?Car salesperson (15% profit margin) ?Colleges and universities Chapter 11 Slide 16 FirstDegree Price Discrimination in Practice Quantity D MR MC $/Q P2 P3 P*4 P5 P6 P1 Six prices exist resulting in higher profits. With a single price P*4, there are few consumers and those who pay P5 or P6 may have a surplus. Q SecondDegree Price Discrimination Quantity $/Q D MR MC AC P0 Q0 Without discrimination: P = P0 and Q = Q0. With seconddegree discrimination there are three prices P1, P2, and P3. (. electric utilities) P1 Q1 1st Block P2 Q2 P3 Q3 2nd Block 3rd Block Seconddegree price discrimination is pricing according to quantity consumedor in blocks. SecondDegree Price Discrimination Quantity $/Q D MR MC AC P0 Q0 P1 Q1 1st Block P2 Q2 P3 Q3 2nd Block 3rd Block Economies of scale permit: ?Increase consumer welfare ?Higher profits Chapter 11 Slide 19 Price Discrimination ? Third Degree Price Discrimination 1) Divides the market into twogroups. 2) Each group has its own demand function. Chapter 11 Slide 20 Price Discrimination ? Third Degree Price Discrimination 3) Most mon type of price discrimination. ?Examples: airlines, liquor, vegetables, discounts to students and senior citizens. Chapter 11 Slide 21 Price Discrimination ? Third Degree Price Discrimination 4) Thirddegree price discrimination is feasible when the seller can separate his/her market into groups who have different price elasticities of demand (. business air travelers versus vacation air travelers) Chapter 11 Slide 22 Price Discrimination ? Third Degree Price Discrimination ? Objectives ?MR1 = MR2 ?MC1 = MR1 and MC2 = MR2 ?MR1 = MR2 = MC Chapter 11 Slide 23 Price Discrimination ? Third Degree Price Discrimination ? P1: price first group ? P2: price second group ? C(Qr) = total cost of QT = Q1 + Q2 ? Profit ( ) = P1Q1 + P2Q2 C(Qr) ?Chapter 11 Slide 24 Price Discrimination ? Third Degree Price Discrimination ? Set incremental for sales to group 1 = 0 ? ? ?0(11)111?????????QCPQ?MCQCMRP ???????11111 )(Chapter 11 Slide 25 Price Discrimination ? Third Degree Price Discrimination ? Second group of customers: MR2 = MC ? MR1 = MR2 = MC Chapter 11 Slide 26 Price Discrimination ? Third Degree Price Discrimination ? Determining relative prices ? ? ?)11()11(11222111 EPMREPMREPMR d??????? :T h e n :R e ca l lChapter 11 Slide 27 Price Discrimination ? Third Degree Price Discrimination ? Determining relative prices ? ? Pricing: Charge higher price to group with a low demand elasticity )11()11(1221EEPP??? :A n dChapter 11 Slide 28 Price Discrimination ? Third Degree Price Discrimination ? Example: E1 = 2 amp。 consumer would buy at a lower price ?P1: less sales and profits ?P2 : increase sales amp。Chapter 11 Pricing with Market Power Chapter 11 Slide 2 Topics to be Discussed ? Capturing Consumer Surplus ? Price Discrimination ? Intertemporal Price Discrimination and PeakLoad Pricing Chapter 11 Slide 3 Topics to be Discussed ? The TwoPart Tariff ? Bundling ? Advertising Chapter 11 Slide 4 Introduction ? Pricing without market power (perfect petition) is determined by market supply and demand. ? The individual producer must be able to forecast the market and then concentrate on managing production (cost) to maximize profits. Chapter 11 Slide 5 Introduction ? Pricing with market power (imperfect petition) requires the individual producer to know much more about the characteristics of demand as well as manage production. Chapter 11 Slide 6 Capturing Consumer Surplus Quantity $/Q D MR Pmax MC If price is raised above P*, the firm will lose sales and reduce profit. PC PC is the price that would exist in a perfectly petitive market. A P* Q* P1 Between 0 and Q*, consumers will pay more than P*consumer surplus (A). B P2 Beyond Q*, price will have to fall to create a consumer surplus (B). Chapter 11 Slide 7 Capturing Consumer Surplus ?P*Q*: single P amp。 Q MC=MR ?A: consumer surplus with P* ?B: PMC amp。 and reduce revenue and profits ?PC: petitive price Quantity $/Q D M
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