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Microeconomics principles and analysis phần 2

Rõ ràng, các phân tích về kết quả đầu ra chuyên nghiệp . t chức năng và mạng lưới có một thanh lịch hấp dẫn. Tuy nhiên nó không phải là vì lợi ích của sự thanh lịch mà chúng tôi đã giới thiệu nó trên đầu trang của các phương pháp tiếp cận đầu ra như một chức năng của đầu vào cho người đi bộ. | 44 CHAPTER 2. THE FIRM Clearly the analysis in terms of the profit function and net outputs has an attractive elegance. However it is not for the sake of elegance that we have introduced it on top of the more pedestrian output-as-a-function-of-input approach. We will find that this approach has special advantages when we come to model the economic system as a whole. 2.6 Summary The elementary microeconomic model of the firm can be constructed rigorously and informatively with rather few ingredients. Perhaps the hardest part is to decide what the appropriate assumptions are that should be imposed on the production function that determines the firm s technological constraints. The fundamental economic problem of the competitive firm can be usefully broken down into two subproblems that of minimising the cost of inputs for a given output and that of finding the profit-maximising output given that input combinations have already been optimally selected for each output level. Each of these subproblems gives rise to some intuitively appealing rules of thumb such as MRTS input price ratio for the first subproblem and price marginal cost for the second subproblem. Changing the model by introducing side constraints enables us to derive a modified solution function the short-run cost function and a collection of modified response functions. We get the common-sense result that the more of these side constraints there are the less flexible is the firm s response to changes in signals from the market. The elementary model of the firm can usefully be generalised by what amounts to little more than a relabelling trick. Outputs and inputs are replaced by the concept of net output. This trick is an important step for the future development of the production model in chapters 6 and onwards. 2.7 Reading notes On the mathematical modelling of production see Fuss and McFadden 1980 . The classic references that introduced the cost function and the profit function are Hotelling 1932 and