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Biaya dan Penerimaan

Pengantar Ekonomi Peternakan


(2/0)
Economic Dimension
Kita perlu
menghitung harga
dari output
Kita juga perlu
menghitung biaya
untuk input
Kunci dari fungsi Biaya
The following cost derivations play a key
role in decision-making:

Marginal cost (MC) = total cost output

Average
variable (AVC) = total variable cost output
cost

Average
total (ATC) = total cost output
cost
From TPP
curve on
page 113
Fixed costs are
$100 no matter
the level of
production
Column (2)
divided by
column (1)
Costs that vary
with level of
production
Column (4)
divided by
column (1)
Column (2)
plus
column (4)
Change in column (6)
associated with a
change in column (1)
Column (6) divided
by column (1) or
or column (3) plus
column (5)
Plotted cost relationships
from table 6.3 on page 118
Plotting costs for levels of output
Key Revenue Concepts
Notice the price in column (2) is identical to marginal revenue in column
(7). What about average revenue, or AR? What do you see if you divide
total revenue in column (3) by output in column (1)? Yes, $45. Thus,
P = MR = AR under perfect competition.
Now lets assume this firm can sell its product for $45/unit
Profit maximizing
level of output,
where MR=MC
P=MR=AR
$45
11.2
Average
Profit = $17,
or AR ATC
P=MR=AR
$45-$28
$28
Total profit
pada harga
$45
P=MR=AR
11.2 ($45 - $28) = $190.40
Profit = 0, jika harga turun ke
P
BE
.
Produsen akan berproduksi
hanya pd tk output O
BE
. AR-
ATC=0

P=MR=AR
Economic losses
if price falls to P
SD
.
Firm would shut down
below output O
SD
P=MR=AR
Where is the firms
supply curve?

P=MR=AR
P=MR=AR
Marginal cost curve
above AVC curve?

Key Revenue Concepts
The previous graph indicated that profit is maximized at 11.2
units of output, where MR ($45) equals MC ($45). This occurs
between lines G and H on the table above, where at 11.2 units
of output profit would be $190.40. Lets do the math.
Profit at Price of $10?
28
P=10
18
45
$
Q 11.2 10.3 8.6
MC
ATC
AVC
7.0
Revenue = $10 7.0 = $70.00
Total cost = $30 7.0 = $210.00
Profit = $70.00 $210.00 = $140.00

Since P = MR = AR
Average profit = $10 $30 = $20
Profit = $20 7.0 = $140

Average variable cost = $19
Variable costs = $19 7.0 = $133.00
Revenue variable costs = $63
Not covering variable costs!!!!!!
The Firms Supply Curve
28
P=10
18
45
$
Q 11.2 10.3 8.6
MC
ATC
AVC
7.0
Now lets look at the
demand for a single input:
Labor
Key Input Relationships
The following input-related derivations also play a key role in
decision-making:

Marginal
value (MVP) = marginal physical product price
product


Marginal
input (MIC) = wage rate, rental rate, etc.
cost
5
B
C
D
E
F
G
H
I
J
Wage rate represents
the MIC for labor
5
B
C
D
E
F
G
H
I
J
Use a variable input like
labor up to the point
where the value received
from the market equals
the cost of another unit of
input, or MVP=MIC
5
The area below the
green lined MVP
curve and above the
green lined MIC
curve represents
cumulative net benefit.
B
C
D
E
F
G
H
I
J
MVP = MPP $45
Profit maximized where MVP = MIC
or where MVP =$5 and MIC = $5
=

Marginal net benefit in column (5)
is equal to MVP in column (3) minus
MIC of labor in column (4)
The cumulative net benefit in
column (6) is equal to the sum
of successive marginal net benefit
in column (5)
For example
$25.10 = $9.85 + $15.25
$58.35 = $25.10 + $33.25
=

Cumulative net benefit
is maximized where
MVP=MIC at $5
5
If you stopped at point
E on the MVP curve,
for example, you
would be foregoing all
of the potential profit
lying to the right of
that point up to where
MVP=MIC.
B
C
D
E
F
G
H
I
J
5
If you went beyond the
point where
MVP=MIC, you begin
incurring losses.
B
C
D
E
F
G
H
I
J
A Final Thought
One final relationship needs to be made. The level
of profit-maximizing output (O
MAX
) in the graph on
page 123 where MR = MC corresponds directly with
the variable input level (L
MAX
) in the graph on page
125 where MVP = MIC.




O
MAX
= f(L
MAX
| capital, land and management)

In Summary
Gambaran Tentang Pasar
Persaingan Sempurna
Faktor Produksi/input
(Land, Labor, Capital and
Management)
Key decision rule: Profit
maximized at output
MR=MC
Key decision rule: Profit
maximized where
MVP=MIC