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早早 · 2022年11月13日

老师,这道题中well-defined supply function什么意思?

A well-defined supply function is most likely available to:

  1. a monopolist.
  2. a firm operating in perfect competition.
  3. a firm operating in monopolistic competition.

Solution


Solution

B is correct because "In perfect competition, the firm’s supply schedule is represented by the marginal cost schedule." 

A is incorrect because "[a]s in the market structures of monopolistic competition and oligopoly, the monopolist does not have a well-defined supply function that determines the optimal output level and the price to charge."

C is incorrect because "[i]n perfect competition, the firm’s supply schedule is represented by the marginal cost schedule. In monopolistic competition, there is no well-defined supply function."

The Firm and Market Structures Learning Outcome

  1. Describe a firms supply function under each market structure


1 个答案

笛子_品职助教 · 2022年11月14日

嗨,努力学习的PZer你好:


老师,这道题中well-defined supply function什么意思?


Hello,亲爱的同学!

Well - defined 供应函数,是指,我们能够通过数学表达式,表达出供应曲线的公式。


我们看到在完全竞争市场里,供应曲线就是高于AVC的MC曲线。因为我们可以用数学函数表达出供应曲线,所以称为well -defined供应函数。


但是在垄断市场,我们无法用数学公式写出供应曲线。

所以垄断市场相对完全市场来说:完全竞争市场存在well -defined供应函数,垄断市场不存在well -defined供应函数



同学看以上老师整理的讲义截图,红框部分内容就可以了。

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