中级微观课件·范里安版第21章讲义幻灯片.pptVIP

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中级微观课件·范里安版第21章讲义幻灯片.ppt

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y $/output unit ACs(y;x2￠￠￠) ACs(y;x2￠￠) ACs(y;x2￠) AC(y) The long-run av. total costcurve is the lower envelopeof the short-run av. total cost curves. Short-Run Long-Run Marginal Cost Curves Q: Is the long-run marginal cost curve the lower envelope of the firm’s short-run marginal cost curves? Short-Run Long-Run Marginal Cost Curves Q: Is the long-run marginal cost curve the lower envelope of the firm’s short-run marginal cost curves? A: No. Short-Run Long-Run Marginal Cost Curves The firm’s three short-run average total cost curves are ... y $/output unit ACs(y;x2￠￠￠) ACs(y;x2￠￠) ACs(y;x2￠) y $/output unit ACs(y;x2￠￠￠) ACs(y;x2￠￠) ACs(y;x2￠) MCs(y;x2￠) MCs(y;x2￠￠) MCs(y;x2￠￠￠) y $/output unit ACs(y;x2￠￠￠) ACs(y;x2￠￠) ACs(y;x2￠) MCs(y;x2￠) MCs(y;x2￠￠) MCs(y;x2￠￠￠) AC(y) y $/output unit ACs(y;x2￠￠￠) ACs(y;x2￠￠) ACs(y;x2￠) MCs(y;x2￠) MCs(y;x2￠￠) MCs(y;x2￠￠￠) AC(y) y $/output unit ACs(y;x2￠￠￠) ACs(y;x2￠￠) ACs(y;x2￠) MCs(y;x2￠) MCs(y;x2￠￠) MCs(y;x2￠￠￠) MC(y), the long-run marginalcost curve. Short-Run Long-Run Marginal Cost Curves For any output level y 0, the long-run marginal cost of production equals to the short-run marginal cost of output chosen by the firm. Short-Run Long-Run Marginal Cost Curves This is always true, no matter how many and which short-run circumstances exist for the firm. So for the continuous case, where x2 can be fixed at any value of zero or more, the relationship between the long-run marginal cost and all of the short-run marginal costs is ... Short-Run Long-Run Marginal Cost Curves AC(y) $/output unit y SRACs Short-Run Long-Run Marginal Cost Curves AC(y) $/output unit y SRMCs Short-Run Long-Run Marginal Cost Curves AC(y) MC(y) $/output unit y SRMCs For each y 0, the long-run MC equals theMC for the short-run chosen by the firm. $/output unit y AVC(y) MC(y) $/output unit y AVC(y) MC(y) $/output unit y AVC(y) MC(y) $/output unit y AVC(y) MC(y) The short-run MC curve intersectsthe short-run AVC curve frombelow at the AVC curve’