《西方经济学》英文版课件-6.ppt

C H A P T E R C H E C K L I S T When you have completed your study of this chapter, you will be able to 6.1 VALUE, PRICE, CONSUMER SURPLUS Demand and Marginal Benefit Buyers distinguish between value and price. Value is what the buyer gets. Price is what the buyer pays. The value of one more unit of a good or service is its marginal benefit. Marginal benefit can be measured as the maximum price that people are willing to pay for another unit of the good or service. 6.1 VALUE, PRICE, CONSUMER SURPLUS The consumer will buy one more unit of a good or service if its price is less than or equal to the value the consumer places on it. A demand curve is a marginal benefit curve. For example, the demand curve for pizza tells us the dollars worth of other goods and services that people are willing to forgo to consume one more pizza. That is, the demand curve for pizza shows the value the consumer places on each unit of pizza. 6.1 VALUE, PRICE, CONSUMER SURPLUS 6.1 VALUE, PRICE, CONSUMER SURPLUS 6.1 VALUE, PRICE, CONSUMER SURPLUS Consumer Surplus (消費者剩餘) Consumer surplus The marginal benefit from a good or service minus the price paid for it. 6.1 VALUE, PRICE, CONSUMER SURPLUS 6.2 COST, PRICE, PRODUCER SURPLUS Supply and Marginal Cost Sellers distinguish between cost and price. Cost is what a seller must give up to produce the good. Price is what a seller receives when the good is sold. The cost of producing one more unit of a good or service is its marginal cost. 6.2 COST, PRICE, PRODUCER SURPLUS The seller will produce one more unit of a good or service if the price for which it can be sold exceeds or equals its marginal cost. A supply curve is a marginal cost curve. For example, the supply curve of pizza tells us the dollars worth of other goods and services that firms must forgo to produce one more pizza. That is, the supply curve of pizza shows the seller’s cost of producing each unit of pizza. 6.2 COST, PRICE, PRODUCER SURPLUS 6.2 COST, PRICE, PRODUCER SURPLUS