微观经济学精华讲义英文版(4) - 图文

汪艳

经济管理学院

Short-run supply curve?SMC and P≥minAVC If P> AC, the firm Pwill continue to SMCproduce at a profit.PSAC1If P> AVC,firm E1will continue to P2produce at a loss in the short run.E2PAVC3E3PFirm4shutsE4P5down ifP

双语教学示范课程

212013-7-23

The firm shuts down if the revenue it gets from producing is less than VCof production.

?Shut down ifTR < VC

?Shut down if(TR/Q) < (TVC/Q)?Shut down ifAR < AVC

?P< AVC

汪艳

经济管理学院

双语教学示范课程

222013-7-23

汪艳

经济管理学院

?The portion of the SMCcurve that lies above the minimumpoint of AVCis the competitive firm’s short-run supply curve.

双语教学示范课程

232013-7-23

The Short-Run:

Market Supplywith a Fixed Number of Firms

?For any given price, each firm supplies a quantity of output so that its MC equalsP. ?Market supply equals the sum of the

quantities supplied by the individual firms in the market.

汪艳

经济管理学院

双语教学示范课程

242013-7-23