Tabular Analysis of Equilibrium Managerial EconomicsCharles W Upton
Tabular Analysis of Equilibrium Managerial Economics-Charles W. Upton
Agenda • The previous lecture worked with graphical cost functions. • Now we turn to tabular cost functions. Tabular Analysis of Equilibrium 2
A Tabular Analysis 1 Tabular Analysis of Equilibrium 3
A Tabular Analysis 2 Tabular Analysis of Equilibrium 4
A Tabular Analysis 3 Tabular Analysis of Equilibrium 5
Supply Curve, Firm 1 Tabular Analysis of Equilibrium 6
Supply Curve, Firm 1 Tabular Analysis of Equilibrium 7
Supply Curve, Firm 2 Tabular Analysis of Equilibrium 8
Supply Curve, Firm 3 Tabular Analysis of Equilibrium 9
The Industry Supply Curve Tabular Analysis of Equilibrium 10
The Industry Supply Curve P = 5, Q = 5 Tabular Analysis of Equilibrium 11
The Industry Supply Curve P = 6, Q = 6 Tabular Analysis of Equilibrium 12
The Industry Supply Curve P = 7, Q = 7 Tabular Analysis of Equilibrium 13
The Industry Supply Curve P = 8, Q = 11 Tabular Analysis of Equilibrium 14
The Industry Supply Curve P = 10, Q = 14 Tabular Analysis of Equilibrium 15
The Industry Supply Curve P = 12, Q = 16 Tabular Analysis of Equilibrium 16
The Industry Supply Curve P = 16, Q = 19 Tabular Analysis of Equilibrium 17
The Industry Supply Curve P = 28, Q = 24 Tabular Analysis of Equilibrium 18
Summary • We find industry supply by adding firm supply curves. Tabular Analysis of Equilibrium 19
Summary • We find industry supply by adding firm supply curves. • At some prices, marginal firms are not in industry. Tabular Analysis of Equilibrium 20
Summary • We find industry supply by adding firm supply curves. • At some prices, marginal firms are not in industry. • We could compute each firm’s profit at different prices. Tabular Analysis of Equilibrium 21
Summary • We find industry supply by adding firm supply curves. • At some prices, marginal firms are not in industry. • We could compute each firm’s profit at different prices. • We could also compute industry price elasticity of supply. Tabular Analysis of Equilibrium 22
End © 2005 Charles W. Upton Tabular Analysis of Equilibrium 23
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