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# 经济代写|微观经济学代考Microeconomics代写|BEA470 The Firm’s Short-Run Supply Curve

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## 经济代写|微观经济学代考Microeconomics代写|The Firm’s Short-Run Supply Curve

What happens if the market price changes? Then MR changes, and the point of intersection between MR and $\mathrm{MC}$ also changes. The firm will then choose to produce the quantity that corresponds to the new point of intersection, so the quantity supplied follows the $\mathrm{MC}$ curve as the price changes.

However, this is only true as long as the price is higher than AVC. To see why, look at the shut down condition above again. Suppose the market price falls to the point where the MC curve intersects the AVC curve, i.e. at the quantity $\mathrm{q}=72$ in the figure. At that point, $M R=p=M C=A V C$ and the profit becomes $\mathrm{q}^(\mathrm{p}-\mathrm{AVC})-\mathrm{FC}=72^ 0-\mathrm{FC}=-\mathrm{FC}$. Note that $\mathrm{p}-\mathrm{AVC}$ is what the firm gets paid in excess of average variable cost for each unit it sells; $q^*(p-A V C)$ is then what it gets paid in excess of average variable cost for all units it sells; finally, subtracting FC yields what it gets paid in excess of all costs (= profit).

The loss is consequently as large as if we choose to produce nothing at all. If the price falls even more, the losses increase and it is better to produce nothing.

## 经济代写|微观经济学代考Microeconomics代写|Short-Run Equilibrium

In Figure 9.2, we have summarized the equilibrium in the market and the equilibrium for an individual representative firm. To the right in the figure, we have the individual firm’s MC-, ATC-, and AVC curves. The short-run supply curve of the firm is the part of the MC curve that is above AVC. For prices below $\mathrm{p}_{\min }$, there is consequently no supply at all. If we sum all firms’ supply curves, we get the market’s supply curve, $\mathrm{S}$, to the left in the figure. ( $\Sigma(\mathrm{MC})$ means “the sum of all MC curves.”)

In the market, supply meets demand, $\mathrm{D}$, and an equilibrium price, $\mathrm{p}^$, and an equilibrium quantity, $\mathrm{Q}^$, arise. $\mathrm{p}^$ is the price that the individual firm receives for each unit of the good it sells. Since there are a large number of firms, no individual firm can charge a higher price than $\mathrm{p}^$. If some firm did, the consumers would choose one of its competitors instead. The MR curve of an individual firm is consequently horizontal and equal to the price, $\mathrm{p}^$. The firm chooses to produce the quantity $\mathrm{q}^$, as this quantity makes $\mathrm{MC}=\mathrm{MR}$ and, consequently, maximizes profit.

In the short run, a firm in a perfectly competitive market can make a profit. In Figure $9.2$, the profit corresponds to the grey rectangle on the right-hand side. To see that this is the profit, note that in a perfectly competitive market AR (Average Revenue) is as large as $\mathrm{MR}$ is, since the firm is paid the same amount for each unit sold. Furthermore, $\mathrm{q}^* \mathrm{AR}=\mathrm{TR}$ and $\mathrm{q}^* \mathrm{ATC}=\mathrm{TC}$. Profit is then $\pi=\mathrm{TR}-\mathrm{TC}$. To summarize, we have that
$$\pi=T R-T C=q^* A R-q^* A T C=q^*(M R-A T C)$$

# 微观经济学代写

## 经济代写|微观经济学代考Microeconomics代写|The Firm’s Short-Run Supply Curve

$\left.\mathrm{q}^{(\mathrm{p}}-\mathrm{AVC}\right)-\mathrm{FC}=72^0-\mathrm{FC}=-\mathrm{FC}$. 注意p $-\mathrm{AVC}$ 是公司每售出一个单位所获得的超过平均可变成本的报酬;
$q^*(p-A V C)$ 那么它得到的报酬超过了它销隹的所有单位的平均可变成本; 最后，减去 $\mathrm{FC}$ 得到的收益超过所有成本（= 利 润) 。

## 经济代写|微观经济学代考Microeconomics代写|Short-Run Equilibrium

，出现。缺少上标或下标参数

MR 曲线是水平的并且等于价格，缺少上标或下标参数 $\quad$. 企业选择生产数量

$$\pi=T R-T C=q^* A R-q^* A T C=q^*(M R-A T C)$$

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