管理经济学（第14版） 课件 第16章　政府对企业的监管

Chapter16GovernmentRegulationofBusinessMANAGERIALECONOMICSFoundationsofBusinessAnalysisandStrategyFourteenthEditionCHRISTOPHERR.THOMAS©McGrawHillLLC.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGrawHillLLC.LearningObjectives16.1 Definesocialeconomicefficiencyandexplainwhywell‐functioningcompetitivemarketsachievesocialeconomicefficiencywithoutgovernmentregulation.16.2 Explaintheconceptofmarketfailureandexplainwhyitprovidesaneconomicjustificationforgovernmentinterventioninmarkets.16.3 Identifydeadweightlossassociatedwithmarketpoweranddiscusswaysantitrustpolicy,second‐bestpricing,andtwo‐partpricingcanreducethecostofmarketpower.16.4 Discusspollutionasanegativeexternalityandshowhowgovernmentregulationcancreateincentivesforfirmstochoosetheoptimallevelofpollution.16.5 Explainwhycommonpropertyresourcesandpublicgoodsareunderproducedandhowgovernmentcanreducemarketfailurecreatedbynonexcludability.16.6 Discusswhyimperfectinformationaboutproductpriceandqualitycanleadtomarketfailure.2EfficiencyConditionsforSocietySocialeconomicefficiencyexistswhenproductionandconsumptionareorganizedinawaythatfulfillstwoefficiencyconditions:productiveefficiencyandallocativeefficiency.Productiveefficiencyreferstotheproductionofindustryoutputatthelowestpossibletotalcosttosocietyandoccurswhenfirmsoperatealongtheirexpansionpathsinboththeshortrunandlongrun.Allocativeefficiencyoccurswhenoptimallevelsofallgoodsareproducedandsoldtoconsumerswhovaluethemmost.OptimallevelofoutputisreachedwhentheMBofanotherunittoconsumersjustequalstheMCtosocietyofproducinganotherunit.WhereP=MC

(marginal-cost-pricing).3SocialEconomicEfficiencyAchievedbymarketsinperfectlycompetitiveequilibrium.Attheintersectionofdemandandsupply,conditionsforproductiveandallocativeefficiencyaremet.Atthemarket-clearingprice,buyersandsellersengageinvoluntaryexchangethatmaximizessocialsurplus.Therationingfunctionofpricesistheprocessbywhichpricesservetorationgoodstotheirhighestvaluedusersthroughvoluntaryexchange.4Figure16.1EfficiencyinPerfectCompetitionAccessthetextalternativeforslideimages.5MarketFailureandtheCaseforGovernmentInterventionCompetitivemarketscanachievesocialeconomicefficiencywithoutgovernmentregulation.Butnotallmarketsarecompetitive,andevencompetitivemarketscansometimesfailtoachievemaximumsocialsurplus.Marketfailureiswhenamarketfailstoreachanequilibriumthatachievessocialeconomicefficiencyandthusfailstomaximizesocialsurplus.Governmentfailureisgovernmentinterventionthatreducessocialsurplus.6FormsofMarketFailureSixformsofmarketfailurecanundermineeconomicefficiency:MarketpowerNaturalmonopolyNegative(andpositive)externalitiesCommonpropertyresourcesPublicgoodsInformationproblems7MarketPowerandPublicPolicy1Firmswithmarketpowermustpriceabovemarginalcosttomaximizeprofit(P>MC).Marketpoweristheabilitytoraisepricewithoutlosingallsales;possessedonlybyprice-settingfirms.Thesefirmsfailtoachieveallocativeefficiency,whichreducessocialsurplus;thelostsurplusisdeadweightlossofsocialsurpluslostonunitsnotproducedwhenpricedivergesfrommarginalcost.Allocativeefficiencyislostbecausetheprofit-maximizingpricedoesnotresultinmarginal-cost-pricing.Attheprofit-maximizingpoint,MB>MCandresourcesareunderallocatedtotheindustry.8MarketPowerandPublicPolicy2Whenthedegreeofmarketpowergrowshighenough,antitrustofficialsrefertoitasmonopolypower,apoorlydefinedlegaltermusedinantitrustlawtorefertoahighdegreeofmarketpower.Noclearlegalthresholdhasbeenestablishedtodeterminewhenmarketpowerbecomesmonopolypower.9Figure16.2TheLouisianaWhiteShrimpMarketAccessthetextalternativeforslideimages.10PromotingCompetitionThroughAntitrustPolicyAhighdegreeofmarketpower(ormonopolypower)canariseinthreeways:ActualorattemptedmonopolizationPrice-fixingcartelsMergersamonghorizontalcompetitorsFirmsmaybefoundguiltyofactualmonopolizationonlyifbothofthefollowingconditionsaremet:Behaviorisjudgedtobeundertakenforthesolepurposeofcreatingmonopolypower.Firmsuccessfullyachieveshighdegreeofmarketpower.Firmscanalsobeguiltyofattemptedmonopolization.11NaturalMonopolyandMarketFailureAnaturalmonopolyoccurswhenasinglefirmcanproducetheentireindustryoutputatlowertotalcostthancantwoormorefirms.Inanaturalmonopoly,long-runcostsaresubadditive

atifanydivisionofthisoutputamongtwoormorefirmsismorecostlythanlettingonefirmproduceitall.Breakingupanaturalmonopolyisundesirable.Increasingthenumberoffirmsdrivesuptotalcostandunderminesproductiveefficiency.Undernaturalmonopoly,nosinglepricecanestablishsocialeconomicefficiency.12Figure16.3SubadditiveCostsandNaturalMonopolyAccessthetextalternativeforslideimages.13RegulatingPriceUnderNaturalMonopolyWitheconomiesofscale,marginal-cost-pricingresultsinaregulatednaturalmonopolyearningnegativeeconomicprofit.Second-bestpricingreferstosettingpriceascloseaspossibletomarginalcost,butjusthighenoughtoensurezeroeconomicprofit.With

two-partpricing,utilitycustomerspayanaccesschargeplusausagefeeforeachunitpurchased.14Figure16.4RegulatingPriceUnderNaturalMonopolyAccessthetextalternativeforslideimages.15TheProblemofNegativeExternalityExternalities

occurwhentheactionsofbuyersandsellerscreateexternalbenefitsorcoststhatspillovertoothermembersofsociety.Positiveexternalitiesoccurwhenspillovereffectsarebeneficialtosociety.Negativeexternalitiesoccurwhenspillovereffectsarecostlytosociety.Externalitiesundermineallocativeefficiency.Marketparticipantsrationallychoosetoignorethebenefitsandcostsoftheiractionsthatspillovertoothers.Competitivemarketpricesdonotcapturesocialbenefitsorcoststhatspillovertosociety.16SocialCostofProductionManagersrationallyignoreexternal(orspillover)costswhenmakingprofit-maximizingproductiondecisions.Socialcostofproduction:

Socialcost

=Privatecost+ExternalcostorSocialcost−Privatecost=Externalcost17Figure16.5NegativeExternalityandAllocativeInefficiencyAccessthetextalternativeforslideimages.18Figure16.6PollutionasaNegativeExternalityAccessthetextalternativeforslideimages.19OptimalLevelofPollutionPollutioncontrol(orabatement)

referstocostlyeffortsundertakenbyfirmstoreduceorpreventemissionofpollutionfromtheirproductionfacilities.Marginaldamage

(MD)istheadditionaldamageincurredbysocietybydischargingonemoreunitofpollutionintotheenvironment.Totaldamage

isthedollarmeasureofalldamagestosocietycausedbypollutionemissions.Totalabatementcostismeasuredbytheareaunderthemarginalcostofabatementcurve(MAC).Emissiontaxesareleviedoneachtonofpollutiondischargedintotheenvironment.20Figure16.7FindingtheOptimalLevelofPollutionAccessthetextalternativeforslideimages.21Figure16.8OptimalEmissionTaxationAccessthetextalternativeforslideimages.22NonexcludabilityTwotypesofmarketfailurecausedbynonexcludability:CommonpropertyresourcesPublicgoods23CommonPropertyResourcesCommonpropertyresourcesareresourcesforwhichpropertyrightsareabsentorpoorlydefined,leadingtooveruseandunderproduction.Noonecaneffectivelybeexcludedfromsuchresourceswithoutgovernmentintervention.Unitizationmeansassigningequalpropertyrightstoaresource,regardlessofwhichownerproducesandsellstheresource.24Table16.1OverexploitationofCommonPropertyResourcesBP’sProductionRateFastSlowFastA75,75B175,50SlowC50,175D150,150Shell’sProductionRatePayoffsinmillionsofbarrelsofoilrecovered.25PublicGoodsPublicgoodsarebothnonexcludableandnondepletable.Nondepletable

meansthatoneperson’sconsumptionofagoodcausesnoreductioninthequantityorqualityavailabletoothermembersofsociety.Theinabilityofsupplierstoexcludenonpayerscreatesa

free-riderproblem

fortheprivateprovisionofpublicgoods.Evenwhenprivatefirmssupplypublicgoods,adeadweightlosscanbeavoidedonlyifthepriceofthegoodiszero.26InformationandMarketFailureMarketfailuremayalsooccurbecauseconsumerslackperfectknowledgeorinformationaboutproductpricesorquality.Marketpowercanemergebecauseofimperfectlyinformedconsumers.Consumersmayover-orunderestimateproductquality.Iftheyovervaluequality,theywilldemandtoomuchproductrelativetotheallocativelyefficientamount.Iftheyundervaluequality,theywilldemandtoolittle.Informationonproductqualitycanbeapublicgood.Oncetheinformationispubliclyavailable,whenonebuyerconsumestheinformationitremainsfullyavailabletootherbuyers.27Figure16.9ImperfectInformationonProductQualityAccessthetextalternativeforslideimages.28Summary1Socialeconomicefficiencyoccurswhentwoefficiencyconditionsarefulfilled:productiveefficiencyandallocativeefficiency.Atthecompetitivemarket-clearingprice,buyersandsellersengageinvoluntaryexchangethatmaximizessocialsurplus.Marketfailureoccurswhenamarketfailstoachievesocialeconomicefficiency.Absentmarketfailure,noefficiencyargumentcanbemadeforgovernmentinterventionincompetitivemarkets.Theproblemwithmarketpoweristhelossofallocativeefficiency.Mostindustrializednationsrelyonantitrustlawstoreducethesocialcostofmarketpower.29Summary2Animportantcauseofmarketfailureariseswhenactionstakenbymarketparticipantscreatebenefitsorcoststhatspillovertoothermembersofsociety.Whenspillovereffectsarebeneficialtosociety,theyarereferredtoaspositiveexternalities,andwhentheyarecostlytosociety,theyarecallednegativeexternalities.Whenaccesstoagoodorscarceresourcecannotbeexcluded,marketfailureusuallyresults.Twokindsofmarketfailurecausedbylackofexcludabilityarecommonpropertyresourcesandpublicgoods.Marketpowercanalsoemergeincompetitivemarketsbecauseimperfectlyinformedconsumersdonothavecompleteknowledgeofpricesandqualities.30EndofMainContent©McGrawHillLLC.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGrawHillLLC.AccessibilityContent:TextAlternativesforImages32Figure16.1EfficiencyinPerfectCompetition-TextAlternativeReturntoparent-slidecontainingimages.Theverticalaxisislabeledprice,marginalbenefit,andmarginalcostindollarsrangingfrom0to140inincrementsof20units.Thehorizontalaxisislabeledquantityrangingfrom0to1,000inincrementsof200units.Anincreasingdiagonallineandadecreasingdiagonalline,labeledSequalsMCandDequalsMBrespectively,areplottedthatintersecteachotheratapointlabeledA.LineSequalsMCstartsat(0,20),passesalong(400,40),movesrighttopointAat(800,60),andendsat(1,000,70).LineDequalsMBdeclinesfrom(0,140),passesalong(400,100),goestopointAat(800,60),andendsat(1,000,40).Notethattheabove-mentionedcoordinatevaluesareactualvalues.Returntoparent-slidecontainingimages.33Figure16.2TheLouisianaWhiteShrimpMarket-TextAlternativeReturntoparent-slidecontainingimages.Theverticalaxisislabeledprice,marginalrevenue,andmarginalcostindollarsrangingfrom0to300inincrementsof100units.Thehorizontalaxisislabeledquantity(10-poundbasketspermonth)rangingfrom0to20,000inincrementsof10,000units.LineMRstartsfrom(0,300)andpassesthroughpointe(10,000,100).LineDequalsMBstartsfrom(0,300),andpassesthroughthepointsM(10,000,200)andC(20,000,100).AhorizontallinelabeledSsubscriptLRequalsLMCequalsLAC,startsatb(0,100)andpassesthroughthepointse(10,000,100)andC(20,000,100).Alineisdrawnfrompointf(0,200)topointM(10,000,200).Thegraphenclosestheareaformedbypointsb,e,M,andf.Notethattheabove-mentionedcoordinatevaluesareactualvalues.Returntoparent-slidecontainingimages.34Figure16.3SubadditiveCostsandNaturalMonopoly-TextAlternativeReturntoparent-slidecontainingimages.Theverticalaxisislabeledpriceandcostindollarsper1,000-gallonunitrangingfrom0to10inincrementsof1unit.Thehorizontalaxisislabeledquantity(1,000-gallonunitspermonth)rangingfrom0to60,000inincrementsof10,000units.Aconcave-updecreasingcurve,labeledAQFC,passesthroughthepoints(20,000,3)andr(40,000,1.50).Anotherconcave-updecreasingcurve,labeledLAC,isabovethefirstcurveandpassesthroughthepoints(20,000,5.50)andt(40,000,4).AhorizontallineLMCstartsat(0,2.50)andextendstowardstheright.Notethattheabove-mentionedcoordinatevaluesareactualvalues.Returntoparent-slidecontainingimages.35Figure16.4RegulatingPriceUnderNaturalMonopoly-TextAlternativeReturntoparent-slidecontainingimages.Theverticalaxisislabeledpriceandcostindollarsper1,000-gallonunitrangingfrom0to10inincrementsof1unit.Thehorizontalaxisislabeledquantity(1,000-gallonunitspermonth)rangingfrom0to60,000inincrementsof10,000units.LineMRhasanegativeslopeandpassesthroughpointw(20,000,2.50).LineDhasanegativeslopeandpassesthroughthepointsM(20,000,6.50),z(30,000,4.50),ands(40,000,2.50).Aconcave-updecreasingcurve,labeledLAC,passesthroughthepoints(20,000,5.50),z(30,000,4.50),andt(40,000,4).AhorizontallineLMCstartsatv(0,2.50)andpassesthroughthepointsw(20,000,2.50),x(30,000,2.50),s(40,000,2.50).LineDandcurveLACintersectatpointz.LineDandlineLMCintersectatpoints.LineMRandlineLMCintersectatpointw.Thegraphenclosesanareaofarectangle,labeledprofit,formedbythepointsM(0,6.50),(0,5.50),(20,000,5.50),and(20,000,6.50).Thegraphenclosesanotherareaofthetriangle,labeledDWL,formedbythepointsX(30,000,2.50),z(30,000,4.50),ands(40,000,2.50).Notethattheabove-mentionedcoordinatevaluesareactualvalues.Returntoparent-slidecontainingimages.36Figure16.5NegativeExternalityandAllocativeInefficiency-TextAlternativeReturntoparent-slidecontainingimages.Theverticalaxisislabeledprice,benefits,andcostsindollarsandthehorizontalaxisislabeledquantity.Theaxeshavenoscalesorunits.Fourlines,labeledSequalsMPC,MEC,MSCequalsMPCplusMEC,andDequalsMSBaredrawn.LineMSCequalsMPCplusMEChasapositiveslopethatstartsattheoriginandpassesalongpointEat(QsubscriptE,PsubscriptE).LineSequalsMPC,hasapositiveslopestartingattheorigin,andpassesalongpointCat(QsubscriptC,PsubscriptC).LineMEChasapositiveslopestartingattheoriginanditisbelowthelineSequalsMPC.LineDequalsMSB,hasanegativeslope,andpassesthroughpointsEat(QsubscriptE,PsubscriptE)andCat(QsubscriptC,PsubscriptC).Thegraphenclosesanareaofthetriangle,labeledDWL,formedbypointEandaverticaldashedlinedrawnatpointQsubscriptC.Notethattheabove-mentionedcoordinatevaluesareactualvalues.Returntoparent-slidecontainingimages.37Figure16.6PollutionasaNegativeExternality-TextAlternativeReturntoparent-slidecontainingimages.Theverticalaxisislabeledprice,benefits,andcostsindollarsrangingfrom0to5.Thehorizontalaxisislabeledquantityrangingfrom0to6,000.Fourlines,labeledMEC,SequalsMPC,MSCequalsMPCplusMEC,andDequalsMSB.LineMSCequalsMPCplusMEChasapositiveslopethatstartsattheoriginandpassesalongpointEat(4,800,4)anduat(6,000,5).LineSequalsMPC,hasapositiveslopestartingattheorigin,andpassesalongpointCat(6,000,3).LineMEChasapositiveslopethatstartsattheoriginandpassesthroughthepointat(6,000,2).LineDequalsMSB,hasanegativeslope,andpassesthroughpointsEat(4,800,4)andCat(6,000,3).Thegraphenclosesanareaofatriangle,labeledDWLequalto1,200dollars,formedbypointsE,u,andC.Notethattheabove-mentionedcoordinatevaluesareactualvalues.Returntoparent-slidecontainingimages.38Figure16.7FindingtheOptimalLevelofPollution-TextAlternativeReturntoparent-slidecontainingimages.Theverticalaxisislabeleddamagesandabatementindollarsrangingfrom0to80.Thehorizontalaxisislabeledtotalemissionsintonsperyearrangingfrom0to1,600.TwolinesMACandMDequalsMBintersectsat(800,40).LineMAC,hasanegativeslopestartingat(0,80),(50,600),(40,800)andendsat(1,600,0).LineMDequalsMB,hasap