미시경제 2


25. 생산요소시장 (FACTOR MARKETS)
1) Benchmark:
Perfect Competition in Output M.
Perfect Competition in Input M.

Choose x to Max p‧f(x) - w‧x
F.O.C. : p‧(f/x) = w
VMP(Value of Marginal Product)
w

x

2) Monopolist in Output Market
Choose x to Max R(f(x)) - w‧x
F.O.C.: (R/y)‧(f/x) = w
MRP(Marginal Revenue Product)
Note that R(y) = P(y)‧y. So,
R/y = P(y) + (P/y)‧y
= p‧[1-(1/)]

3) MONOPSONIST : Single Buyer of Input
Example: 한국프로야구선수시장
Choose x to Max p‧f(x) - w(x)‧x
F.O.C.: p‧(f/x) = w + (w/x)‧x
= w[1+(w/x)‧(x/w)]
= w‧[1+(1/)]
where : Elasticity of Input Supply

Example: (The Minimum Wage)
w
Minimum Wage w
in
....

[hwp/pdf]미시경제 2