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This document discusses different market structures including perfect competition, monopoly, monopolistic competition, and optimal advertising decisions. It provides analysis of profit maximization, supply and demand curves, entry and exit of firms, and long-run equilibrium for firms in these market structures. Specifically, it explains that in the long run under monopolistic competition, entry of new firms will continue until economic profits are zero and firms have no incentive to exit or enter the industry.
Исходное описание:
Introduction for Economic and Managerial Group's Presentation
PRA MBA_64_MMUGM 2014
This document discusses different market structures including perfect competition, monopoly, monopolistic competition, and optimal advertising decisions. It provides analysis of profit maximization, supply and demand curves, entry and exit of firms, and long-run equilibrium for firms in these market structures. Specifically, it explains that in the long run under monopolistic competition, entry of new firms will continue until economic profits are zero and firms have no incentive to exit or enter the industry.
This document discusses different market structures including perfect competition, monopoly, monopolistic competition, and optimal advertising decisions. It provides analysis of profit maximization, supply and demand curves, entry and exit of firms, and long-run equilibrium for firms in these market structures. Specifically, it explains that in the long run under monopolistic competition, entry of new firms will continue until economic profits are zero and firms have no incentive to exit or enter the industry.
Nugraha Setyawidaputra Putri Amandhari 6 th May 2014 PRA MBA C 64
HEADLINE: Starbucks Enters Tea-Loving India Persaingan Sempurna Managing in Competitive, Monopolistic and Monopolistically Competitive Market PERSAINGAN SEMPURNA Banyak pembeli dan penjual Barang yang dijual serupa Pembeli dan penjual memiliki Informasi yang lengkap Tidak ada biaya transaksi Bebas keluar masuk 8-4 Unrealistic? Why Learn? Many small businesses are price-takers, and decision rules for such firms are similar to those of perfectly competitive firms. It is a useful benchmark. Explains why governments oppose monopolies. Illuminates the danger to managers of competitive environments. Importance of product differentiation. Sustainable advantage. 8-5 Kurva Permintaan Firm Q f
$ D f
Market Q M
$ D S P e
Profit-Maximizing MR = MC. karena, MR = P, P = MC untuk memaksimalkan profit 8-7 $ Q f
ATC MC P e = D f = MR Q f*
ATC P e
Max Profit P = MC
profit
loss $ Q ATC AVC Q *
P e
Short run-operating loss MC ATC(Q * ) Shut down decision $ Q ATC AVC MC P e = D f = MR Q *
ATC P e
Loss if shut down
AVC Loss if produce
Shutdown Decision Rule Decision rule: Sebuah perusahaan pada pasar persaingan sempurna harus menutup usahanya saat P < min AVC. Sebuah perusahaan pada pasar persaingan sempurna dapat melanjutkan usahanya P min AVC. 8-11 $ Q f
AVC MC Q0 P0 Short-Run Supply Curve: MC Diatas Min AVC P1 Q1 Market Supply Curve Individual firm 10 1 Q P 12 500 8-13 Market Effect of Entry and Exit Firm Q f
$ D Market Q M
$ D S P e
S1 P1 D 1
Entry Exit S2 D 2
P2 MONOPOLIS TIC COMPETITIO N Managing in Competitive, Monopolistic and Monopolistically Competitive Market Banyak penjual dan pembeli Setiap perusahaan memproduksi barang yang berbeda Bebas keluar masuk pasar CONDITION FOR MONOPOLISTIC COMPETITION PROFIT MAXIMIZATION Kurva permintaan pasar persaingan monopolistik lebih elastis dari pasar monopoli
Kondisi ini, dengan asumsi free entry dan free exit akan mendorong masuknya kompetitor baru
Perusahaan akan memaksimumkan profit saat MR (Q*) = MC (Q*) Charge the price on the demand curve that corresponds to that quantity. Profit Maximization under Monopolistic Competition $ ATC MC D MR Q M
P M
Profit ATC Quantity of Brand X 8-17 Konsekuensi kompetitor baru adalah turunnya permintaan terhadap perusahaan incumbent Jika hal ini terus berlangsung, profit perusahaan incumbent akan tergerus sampai profit ekonominya=0
Pilihan bagi perusahaan incumbent: efisiensi biaya atau meningkatkan permintaan dengan melakukan inovasi, keluar atau masuk industri memperbesar atau mengurangi skala perusahaannya
$ ATC MC D MR Q* P* Quantity of Brand X MR 1
D 1
Entry Due to entry of new firms selling other brands Effect of Entry on a Monopolistically Competitive Firms Demand 8-18 LONG-RUN EQUILIBRIUM P > MC P = ATC > minimum of average cost
Long-Run Equilibrium Long-run equilibrium terjadi pada sebuah pasar kompetitif saat: Economic profit adalah nol, jadi perusahan tidak keluar dan juga tidak masuk industri. Long-run average cost berada pada nilai minimum, jadi perusahaan tidak lagi mengubah ukuran perusahaan.
$ AC MC D MR Q* P* Quantity of Brand X Long Run Monopolistically Competitive Equilibrium Long-Run Monopolistic Competition 8-19 Summary of Logic Short run profits leads to entry. Entry increases market supply, drives down the market price, increases the market quantity. Demand for individual firms product shifts down. Firm reduces output to maximize profit. Long run profits are zero. OPTIMAL ADVERTISING DECISION
Incremental Cost of Advertising Incremental Revenue Formula
A = firm expenditures on advertising R = PQ denotes the dollar value of the firm sales EQP = own price elasticity of demand for firm product (extreme case dia infinite) EQA advertising elasticity of demand for the firm product ANSWERING THE HEADLINE