OPTIMASI EKONOMI

OLEH: FIEN ZULFIKARIJAH

TEORI PERUSAHAAN Perusahaan adalah kombinasi dari berbagai sumberdaya Tujuan perusahaan adalah memperoleh keuntungan Adanya ketidakpastian menyebabkan perusahaan bergeser untuk memaksimalkan kekayaan /nilai
Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Pengertian nilai
Nilai perusahaan adalah nilai sekarang (PV) darialiran kas suatu perusahaan yang diharapkan akan diterima di masa yang akan datang Present value (PV) of an amount (FV) to be received at the end of n periods when the per-period interest rate is i:

FV PV n 1 i

Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Present Value of a Series

Present value of a stream of future amounts (FVt) received at the end of each period for n periods:

FV1 FV2 FVn PV 1 2 ... n 1 i 1 i 1 i

Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Net Present Value

Suppose a manager can purchase a stream of future receipts (FVt ) by spending C0 dollars today. The NPV of such a decision is

FV1 FV2 FVn NPV C0 1 2 ... n 1 i 1 i 1 i

NPV < 0: Reject NPV > 0: Accept

Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

KENDALA DALAM TEORI PERUSAHAAN

Accounting Profits
Total revenue (sales) minus dollar cost of producing goods or services Reported on the firms income statement

Economic Profits
Total revenue minus total opportunity cost

Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

 Accounting Profits
Total revenue (sales) minus dollar cost of producing goods or services Reported on the firms income statement

Economic Profits
Total revenue minus total opportunity cost

Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Opportunity Cost
Accounting Costs
The explicit costs of the resources needed to produce produce goods or services Reported on the firms income statement

Opportunity Cost
The cost of the explicit and implicit resources that are foregone when a decision is made

Economic Profits
Total revenue minus total opportunity cost
Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Market Interactions
Consumer-Producer Rivalry
Consumers attempt to locate low prices, while producers attempt to charge high prices

Consumer-Consumer Rivalry
Scarcity of goods reduces the negotiating power of consumers as they compete for the right to those goods

Producer-Producer Rivalry
Scarcity of consumers causes producers to compete with one another for the right to service customers

The Role of Government

Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Disciplines the market process

Firm Valuation
The value of a firm equals the present value of all its future profits
PV = S pt / (1 + i)t

If profits grow at a constant rate, g < i, then:

PV = po 1i) / ( i - g), po current profit level.

Maximizing Short-Term Profits

If the growth rate in profits < interest rate and both remain constant, maximizing the present value of all future profits is the same as maximizing current profits.
Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Marginal (Incremental) Analysis

Control Variables
Output Price Product Quality Advertising R&D

Basic Managerial Question: How much of the control variable should be used to maximize net benefits?
Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Net Benefits
Net Benefits = Total Benefits - Total Costs Profits = Revenue - Costs

Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Marginal Benefit (MB)

Change in total benefits arising from a change in the control variable, Q:
MB = DB / DQ

Slope (calculus derivative) of the total benefit curve

Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Marginal Cost (MC)

Change in total costs arising from a change in the control variable, Q:
MC = DC / DQ

Slope (calculus derivative) of the total cost curve

Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Marginal Principle
To maximize net benefits, the managerial control variable should be increased up to the point where MB = MC MB > MC means the last unit of the control variable increased benefits more than it increased costs MB < MC means the last unit of the control variable increased costs more than it increased benefits
Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

The Geometry of Optimization

Benefits & Costs Benefits Slope =MB Costs

B C Slope = MC

Michael R. Baye, Managerial Economics and Business Strategy, 3e. The McGraw-Hill Companies, Inc. , 1999

Q*

MAKSIMISASI NILAI PERUSAHAAN

TUJUAN POKOK PERUSAHAAN ADALAH MEMAKSIMUMKAN NILAI PERUSAHAAN

n NILAI = LABA t=1 (1 + I)

n NILAI = TOTAL REVENUE TOTAL COST t=1

METODE PENYAJIAN HUBUNGAN EKONOMI

TR = F(Q)

TR = PxQ

JIKA P = 150, MAKA: TR = 150Q

MODEL TABEL DAN GRAFIK

Q 1 2 3 4 TR 150 300 450 600
700 1000 900

800

5 6

750 900

600

500

Q
TR

400

300

200

100

0 1 2 3 4 5 6

HUBUNGAN ANTARA NILAI TOTAL, RATA-RATA DAN MARGINAL A. HUBUNGAN ANTARA NILAITOTAL DANMARGINAL
Q 1 2 3 LABA TOTAL 0 19 52 LABA MARGINAL 19 33 LABA RATARATA 19 26

4
5 6 7 8 9

93
136 175 210 217 208

41
43 39 35 7 -9

31
34 35 35 21 26

B. HUBUNGAN ANTARA NILAI RATA-RATA DENGAN MARGINAL JIKA NILAI MARGINAL > NILAI RATA-RATA, MAKA NILAI RATARATA SEDANG NAIK

C. KALKULUS DIFFERENSIAL Y =f(X) marginal Y = dY/dX dY = Y2 Y1/X2 X1

D. KAIDAH-KAIDAH PENURUNAN SUATU FUNGSI 1. Kaidah konstanta dY/dX = 0 2. Kaidah pangkat Y = aX -- dY/dX = 2.aX 3. Kaidah penjumlahan dan selisih U = g(X) -- V = h(X) Y=U+V dY/dX = dU/dX + dV/dX Y = 2X + X 4. Kaidah perkalian Y = U.V dY/dX = U dV/dX + V dU/dX

4. Kaidah perkalian Y = U.V dY/dX = U dV/dX + V dU/dX contoh: Y = 3X(3-X) dY/dX = 3X(dV/dX) + (3-X) (dU/dX) = 3X(-1) + (3-X) (6X) = 3X + 18X -6X = 18X 9X

5. Kaidah hasil bagi Y = U/V dY/dX = V dU/dX - U dV/dX V contoh: Y = 2X 3 6X dY/dX = 6X.2 (2X- 3) 12X 36X = 12X - 24X + 36X 36X = 36X - 12X 3X

6. Kaidah rantai Y = 2U- U dan U= 2X langkah 1: dY/dU = 2 2U mensubstitusikan nilai U: dY/dX = 2 2(2X) = 2- 4X langkah 2: dU/dX = 6X langkah 3: dY/dX = dY/dU x dU/dX = (2 4X) 6X = 12X - 24X

PENGGUNAAN TURUNAN UNTUK MEMAKSIMUMKAN/MEMINIMUMKAN FUNGSI Turunan fungsi ditunjukkan oleh nilai marginalnya, fungsi dikatakan maksimum atau minimum jika marginalnya sama dengan nol

Contoh: = -10.000 + 400Q 2Q

d /dQ = 400 4Q = 400 4Q = 0 Q = 400/4 = 100 Jadi keuntungan maksimal sebesar !0.000, pada saat Q = 100 unit

Jumlah produksi BEP pada saat: = -10.000 + 400Q 2Q = -5.000 + 200Q Q = Q - 200Q + 5000 Menggunakan rumu ABC: Q = -b Vb - 4ac 2a Q1 = -200 V200 - 4x5000 = 200+141 = 170,5 = 171 2 2 Q2 = -200 V200 - 4x5000 = 200 141 = 29,5 = 30 2 2 BEP terjadi pada saat Q= 30 dan Q=171

Laba sebagai output

10000 30 10000 s 100

jadi

PEMBEDAAN NILAI MAKSIMUM DAN MINIMUM

Konsep turunan kedua digunakan untuk membedakan nilai maksimum dan minimum dari suatu fungsi
Jika turunan kedua negatif titik yang ditentukan maksimum Jika turunan kedua positif titik yang ditentukan minimum Contoh: = a bQ + cQ - dQ turunan pertama: d /dQ = -b +2CQ 3dQ turunan kedua d /dQ = 2C 6dQ

Contoh: = 3000 2400Q + 3500Q - 8,333Q turunan pertama: d /dQ = -2400 +700Q 25Q turunan kedua d /dQ = 700 50Q pada tingkat output Q=4: d /dQ = 700 50(4) = 500 laba minimal pada tingkat output Q=24: d /dQ = 700 50(24) = -500 laba maksimal

PENGGUNAAN TURUNAN UNTUK MEMAKSIMUMKAN SELISIH ANTARA 2 FUNGSI Contoh: TR = 41,5Q 1,1Q TC = 150 + 0,5Q T = TR TC = 41,5Q 1,1Q - (150 + 0,5Q ) = 41,5Q 1,1Q - 150 - 0,5Q = -150 + 31,5Q 0,06Q turunan pertama: d /dQ = 31,5 1,2Q 0,06Q turunan kedua d /dQ = 1,2 0,12Q