[精选]Ch07_Pindyck生产成本.pptx

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1、Chapter 7Topics to be Discussedl衡量成本?l短期成本l长期成本l长期和短期成本曲线2Chapter 7Topics to be DiscussedlProduction with Two Outputs:Economies of Scope规模经济lDynamic Changes in Costs:The Learning Curve长期成本曲线3Chapter 75.1衡量成本衡量成本lFor a firm to minimize costs,we must clarify what is meant by costs and how to measure t

2、hemmIt is clear that if a firm has to rent equipment or buildings,the rent they pay is a costmWhat if a firm owns its own equipment or building?lHow are costs calculated here?4Chapter 7Measuring Cost:Which Costs Matter?lAccounting Cost会计成本会计成本m实际发生的费用和固定资产的折旧实际发生的费用和固定资产的折旧lEconomic Cost经济成本经济成本m企业在

3、生产中所使用的资源的成本企业在生产中所使用的资源的成本5Chapter 7Measuring Cost:Which Costs Matter?lOpportunity cost时机成本时机成本m企业未将资源用于其他可供选择的最正确用途而放弃的时机相联系的成本6Chapter 7Measuring Cost:Which Costs Matter?lAlthough opportunity costs are hidden and should be taken into account,sunk costs should notlSunk Cost漂浮成本漂浮成本m已经发生但无法收回的支出已经发

4、生但无法收回的支出m在制定未来经济决策时应当忽略它在制定未来经济决策时应当忽略它。7Chapter 7Sunk CostlFirm buys a piece of equipment that cannot be converted to another use专用设备lExpenditure on the equipment is a sunk costmHas no alternative use so cost cannot be recovered opportunity cost is zeromDecision to buy the equipment might have bee

5、n good or bad,but now does not matter8Chapter 7Prospective Sunk CostlAn ExamplemFirm is considering moving its headquartersmA firm paid$500,000 for an option to buy a buildingmThe cost of the building is$5 million for a total of$5.5 millionmThe firm finds another building for$5.25 millionmWhich buil

6、ding should the firm buy?9Chapter 7Prospective Sunk CostlExample cont.lThe first building should be purchasedlThe$500,000 is a sunk cost and should not be considered in the decision to buylWhat should be considered ismSpending an additional$5,250,000 ormSpending an additional$5,000,00010Chapter 7Mea

7、suring Cost:Which Costs Matter?l总成本包括总成本包括:1.Fixed Cost固定成本固定成本mDoes not vary with the level of output2.Variable Cost 可变成本可变成本mCost that varies as output varies11Chapter 7Fixed and Variable Costsl什么成本是固定的，什么是可变的，和时什么成本是固定的，什么是可变的，和时间长短有关间长短有关l在短期内大多数成本固定在短期内大多数成本固定l长期内大多数成本可变长期内大多数成本可变12Chapter 7固定成

8、本与漂浮成本固定成本与漂浮成本l他们经常被混淆他们经常被混淆lFixed Costm在企业经营中必须支付的成本，与产出在企业经营中必须支付的成本，与产出水平无关水平无关m影响企业决策影响企业决策lSunk Cost m已经发生无法收回的成本。不影响决策已经发生无法收回的成本。不影响决策m将沉淀成本按摊销方式处理。不区分沉将沉淀成本按摊销方式处理。不区分沉淀成本和固定成本淀成本和固定成本13Chapter 7边际成本边际成本lMarginal Cost MC:mThe cost of expanding output by one unitmFixed costs have no impact

9、on marginal cost,so it can be written as:14Chapter 7平均成本平均成本lAverage Total Cost ATCmCost per unit of outputmAlso equals average fixed cost AFC plus average variable cost AVC15Chapter 77.2短期成本短期成本16Chapter 7短期成本的决定因素短期成本的决定因素 An xamplel考察生产与成本的关系l假设工资固定lVC=wL17Chapter 7Determinants of Short Run Costs

10、 An Examplel因为l获得额外一单位产出所需要的额外的劳动数量为18Chapter 7Determinants of Short Run Costs An Examplel所以所以l较低的劳动边际产量较低的劳动边际产量MPL味着较味着较高的边际成本高的边际成本 MC。每当劳动的。每当劳动的边际产量降低时，边际成本上升边际产量降低时，边际成本上升短期内，短期内，边际成本等于成本等于变化的投入化的投入要素的价格除以其要素的价格除以其边际产量量19Chapter 7边际报酬递减和边际成本边际报酬递减和边际成本l边际报酬递减边际产量下降边际成本上升20Chapter 7成本曲线成本曲线Outp

11、utCost($peryear)100200300400012345678910111213VCVariable costincreases with production andthe rate varies withincreasing anddecreasing returns.TCTotal costis the verticalsum of FC and VC.FC50Fixed cost does notvary with output21Chapter 7Cost CurvesMCATCAVCAFC22Chapter 7Cost CurveslWhen MC is below A

12、VC,AVC is fallinglWhen MC is above AVC,AVC is risinglWhen MC is below ATC,ATC is fallinglWhen MC is above ATC,ATC is risinglTherefore,MC crosses AVC and ATC at the minimumsmThe Average Marginal relationship23Chapter 7Cost Curves for a FirmlThe line drawn from the origin to the variable cost curve:mI

13、ts slope equals AVCmThe slope of a point on VC or TC equals MCmTherefore,MC=AVC at 7 units of output point A12345678910111213OutputP100200300400FCVCTCA24Chapter 77.3长期成本长期成本l长期内厂商能改变所有投入要素，因长期内厂商能改变所有投入要素，因而改变规模而改变规模l为了实现成本最小化，厂商需要选择为了实现成本最小化，厂商需要选择适宜的投入要素组合适宜的投入要素组合25Chapter 7Cost in the Long Runl租

14、入资本=自有资本lAssume Delta is considering purchasing an airplane for$150 millionmPlane lasts for 30 yearsm$5 million per year economic depreciation for the plane26Chapter 7Cost in the Long Runl如果场上没有购置飞机则可以将资本如果场上没有购置飞机则可以将资本存银行获得利息收入存银行获得利息收入$150 millionl这是时机成本这是时机成本l使用者成本使用者成本=时机成本时机成本+经济折旧经济折旧=利率利率*资产

15、价值资产价值+经济折旧经济折旧27Chapter 7Cost in the Long RunlUser Cost of Capital=Economic Depreciation+Interest Rate*Value of Capitall=$5 mil+.10$150 mil depreciationmYear 1=$5 million+.10$150 million=$20 millionmYear 10=$5 million+.10$100 million=$15 million28Chapter 7Cost in the Long Runl每单位资本的使用者成本：每单位资本的使用者成

16、本：lr=折旧率折旧率+利率利率lIn our example,depreciation rate was 3.33%and interest was 10%,so mr=3.33%+10%=13.33%29Chapter 7成本最小化的投入选择成本最小化的投入选择l 假设：两个可变投入假设：两个可变投入:Labor L and capital Km劳动的价格：工资劳动的价格：工资 wm资本的价格：资本的价格：r=折旧率折旧率+利率使利率使用者成本用者成本lOr 资本价格：资本价格：=租金率租金率r30Chapter 7Cost in the Long Runl等成本线等成本线C=wL+rK3

17、1Chapter 7Cost in the Long RunlRewriting C as an equation for a straight line:mK=C/r-w/rLm等成本线的斜率等成本线的斜率=-w/r32Chapter 7给定产量的成本最小化给定产量的成本最小化Labor per yearCapitalperyearIsocost C2 shows quantity Q1 can be produced with bination K2,L2 or K3,L3.However,both of theseare higher cost binationsthan K1,L1.Q

18、1Q1 is an isoquant for output Q1.There are three isocost lines,of which 2 are possible choices in which to produce Q1.C0C1C2AK1L1K3L3K2L233Chapter 7Input Substitution When an Input Price Change：劳动价格上：劳动价格上升升C2The new bination of K and L is used to produce Q1.bination B is used in place of bination A

19、.K2L2BC1K1L1AQ1If the price of laborrises,the isocost curvebe es steeper due to the change in the slope-w/L.Labor per yearCapitalperyear34Chapter 7Cost in the Long Runl成本最小化的条件成本最小化的条件35Chapter 7Cost in the Long RunlThe minimum cost bination can then be written as:36Chapter 7扩张路径扩张路径Expansion PathTh

20、e expansion path illustratesthe least-cost binations oflabor and capital that can be used to produce each level ofoutput in the long-run.Capitalperyear25507510015050Labor per year100150300200A$2000200 UnitsB$3000300 UnitsC37Chapter 7Expansion Path and Long Run Costsl扩张路径描述了长期生产中每一给定产量是能够使得成本最低的劳动和资本

21、组合。从中可以得到长期总成本曲线。38Chapter 7A Firms Long Run Total Cost CurveLong Run Total CostOutput,Units/yr100300200Cost/Year100020003000DEF39Chapter 77.4长期和短期成本曲线长期和短期成本曲线l在短期内，有局部固定投入在短期内，有局部固定投入l厂商在长期内所有投入要素可变厂商在长期内所有投入要素可变m在长期内，企业能够以比短期生产在长期内，企业能够以比短期生产更低的平均成本进行生产更低的平均成本进行生产40Chapter 7Capital is fixed at K1

22、.To produce q1,min cost at K1,L1.If increase output to Q2,min costis K1 and L3 in short run.The Inflexibility of Short Run ProductionLong-RunExpansion PathLabor per yearCapitalperyearL2Q2K2DCFEQ1ABL1K1L3PShort-RunExpansion PathIn LR,can change capital and min costs falls to K2 and L2.41Chapter 7Long

23、 Run VersusShort Run Cost CurveslLACm决定长期平均成本决定长期平均成本 L AC和边际和边际成本成本 MC 形状的因素是规模报形状的因素是规模报酬递减规律。酬递减规律。1.规模报酬不变规模报酬不变长期平均成本曲长期平均成本曲线和边际成本曲线水平，是常数。线和边际成本曲线水平，是常数。42Chapter 7Long Run Versus Short Run Cost Curves2.规模报酬递增规模报酬递增长期平均和边长期平均和边际成本曲线下右下方倾斜际成本曲线下右下方倾斜3.规模报酬递减规模报酬递减长期成曲线向长期成曲线向右上倾斜、右上倾斜、4.长期成本曲线

24、也是长期成本曲线也是U型的。型的。43Chapter 7Long Run Versus Short Run Cost Curvesl长期边际成本石油长期平均成本决定的:mIf LMC LAC,LAC will risemTherefore,LMC=LAC at the minimum of LACl当 LAC不变时，LAC and LMC 相等44Chapter 7Long Run Average and Marginal CostOutputCost$per unitof outputLACLMCA45Chapter 7规模经济和规模不经济规模经济和规模不经济l规模经济mIncrease i

25、n output is greater than the increase in inputsl规模不经济mIncrease in output is less than the increase in inputslU-shaped LAC shows economies of scale for relatively low output levels and diseconomies of scale for higher levels46Chapter 7Long Run Costsl规模经济以成本-产出弹性衡量 ECEC1，规模不模不经济47Chapter 7Long Run Cos

26、tslEC is equal to 1,MC=ACmCosts increase proportionately with outputmNeither economies nor diseconomies of scalelEC 1 when MC 1 when MC ACmDiseconomies of scalemBoth MC and AC are rising48Chapter 7短期成本和长期成本的关系短期成本和长期成本的关系l长期成本曲线是短期成本曲线的包络线49Chapter 7Long Run Cost withConstant Returns to ScalelThe op

27、timal plant size will depend on the anticipated outputmIf expect to produce q0,then should build smallest plant:AC=$8mIf produce more,like q1,AC risesmIf expect to produce q2,middle plant is least costmIf expect to produce q3,largest plant is best50Chapter 7Long Run Cost with Economiesand Diseconomi

28、es of Scale51Chapter 7l长期成本曲线是短期成本曲线的包络线52Chapter 77.5范围经济范围经济l同时生产两种产品会存在成本上的优势。53Chapter 7lproduct transformation curves产品转产品转换曲线换曲线l描绘了能以固定数量的投入生产的两种产描绘了能以固定数量的投入生产的两种产出的不同组合。出的不同组合。l产品转换曲线向外弯曲，是因为存在生产产品转换曲线向外弯曲，是因为存在生产的范围经济的范围经济54Chapter 7Product Transformation CurveNumber of carsNumberof tracto

29、rsO1 illustrates a low levelof output.O2 illustratesa higher level of output withtwo times as much labor and capital.Each curve shows binations of output with a given bination of L&K.O2O155Chapter 7Production with Two Outputs Economies of ScopelThe degree of economies of scope SC 范围经济程度：mCq1 is the

30、cost of producing q1mCq2 is the cost of producing q2mCq1,q2 is the joint cost of producing both products56Chapter 7Production with Two Outputs Economies of ScopelWith economies of scope,the joint cost is less than the sum of the individual costslInterpretation:mIf SC 0 Economies of scopemIf SC 0 and

31、 N increases,mL approaches A,and A represents minimum labor input/unit of output after all learning has taken placelThe larger,mThe more important the learning effect65Chapter 7The Learning CurveCumulative number ofmachine lots producedHours of laborper machine lot10203040500246810The chart shows a

32、sharp dropin lots to a cumulative amount of20,then small savings at higher levels.Doubling cumulative output causesa 20%reduction in the difference between the input required and minimum attainable input requirement.66Chapter 7Dynamic Changes in Costs The Learning CurvelObservations1.New firms may e

33、xperience a learning curve,not economies of scalelShould increase production of many lots regardless of individual lot size2.Older firms have relatively small gains from learninglShould produce their machines in very large lots to take advantage of lower costs associated with size67Chapter 7Economie

34、s of Scale Versus LearningOutputCost$per unitof outputAC1BEconomies of ScaleAAC2LearningC68Chapter 7Predicting Labor Requirements of Producing a Given Output69Chapter 7Dynamic Changes in Costs The Learning CurvelFrom the table,the learning curve implies:1.The labor requirement falls per unit2.Costs

35、will be high at first and then will fall with learning3.After 8 years,the labor requirement will be 0.51 and per unit cost will be half what it was in the first year of production70Chapter 7The Learning Curve in PracticelScenariomA new firm enters the chemical processing industrylDo they:1.Produce a

36、 low level of output and sell at a high price?2.Produce a high level of output and sell at a low price?71Chapter 7The Learning Curve in PracticelThe Empirical FindingsmStudy of 37 chemical productslAverage cost fell 5.5%per yearlFor each doubling of plant size,average production costs fall by 11%lFo

37、r each doubling of cumulative output,the average cost of production falls by 27%lWhich is more important,the economies of scale or learning effects?72Chapter 7The Learning Curve in PracticelOther Empirical FindingsmIn the semiconductor industry,a study of seven generations of DRAM semiconductors fro

38、m 1974-1992 found learning rates averaged 20%mIn the aircraft industry,the learning rates are as high as 40%73Chapter 7The Learning Curve in PracticelApplying Learning Curves1.To determine if it is profitable to enter an industry2.To determine when profits will occur based on plant size and cumulati

39、ve output74Chapter 7Estimating and Predicting CostlEstimates of future costs can be obtained from a cost function,which relates the cost of production to the level of output and other variables that the firm can controllSuppose we wanted to derive the total cost curve for automobile production75Chap

40、ter 7Total Cost Curve for the Automobile IndustryQuantity of CarsVariablecostGeneral MotorsToyotaFordChryslerVolvoHondaNissan76Chapter 7Estimating and Predicting CostlA linear cost function might be:lThe linear cost function is applicable only if marginal cost is constantmMarginal cost is represente

41、d by 77Chapter 7Estimating and Predicting CostlIf we wish to allow for a U-shaped average cost curve and a marginal cost that is not constant,we might use a quadratic cost function:78Chapter 7Estimating and Predicting CostlIf the marginal cost curve is also not linear,we might use a cubic cost funct

42、ion:79Chapter 7Cubic Cost FunctionOutputper time period Cost$per unit80Chapter 7Estimating and Predicting CostlDifficulties in Measuring Cost1.Output data may represent an aggregate of different types of products2.Cost data may not include opportunity cost3.Allocating cost to a particular product ma

43、y be difficult when there is more than one product line81Chapter 7Cost Functions&Measurement of Scale EconomieslScale Economy Index SCImEC=1,SCI=0:no economies or diseconomies of scalemEC 1,SCI is negative:diseconomies of scalemEC 1,SCI is positive:economies of scale82Chapter 7Scale Economies in Ele

44、ctric Power Industry83Chapter 7Average Cost of Productionin the Electric Power Industry84Chapter 7Cost Functions for Electric PowerlFindingslDecline in costmNot due to economies of scalemWas caused by:lLower input cost coal and oillImprovements in technology85Chapter 7l9、静夜四无邻，荒居旧业贫。11月-2311月-23Sund

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