1、Nature and Scope of Managerial EconomicsChapter 110EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCookManagerial Economics 10e 2003 South-Western/Thomson Learning12Managerial Economics Is a Tool for Improving Management Decision MakingFi

2、gure 1.1Managerial Economics 10e 2003 South-Western/Thomson Learning13The Corporation Is a Legal DeviceFigure 1.2Managerial Economics 10e 2003 South-Western/Thomson Learning14Value Maximization Isa Complex ProcessFigure 1.3Managerial Economics 10e 2003 South-Western/Thomson Learning15Is Coca-Cola th

3、e “Perfect” Business?Figure 1.4Source: Reproduced with the permission of Value Line Publishing, Inc.Economic OptimizationChapter 210EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCookRelation Between Total Revenue and OutputManagerial Ec

4、onomics 10e 2003 South-Western/Thomson Learning27Figure 2.1Table 2.1Total RevenueOutput$1.5013.0024.5036.0047.5059.006Geometric Representation of Total, Marginal, and Average Relations: Total ProfitsManagerial Economics 10e 2003 South-Western/Thomson Learning28Figure 2.2AGeometric Representation of

5、Total, Marginal, and Average Relations: Marginal and Average ProfitsManagerial Economics 10e 2003 South-Western/Thomson Learning29Figure 2.2BChanging over the Range of a CurveManagerial Economics 10e 2003 South-Western/Thomson Learning210Figure 2.3A Derivative as the Slope of a CurveManagerial Econo

6、mics 10e 2003 South-Western/Thomson Learning211Figure 2.4Profit as a Function of OutputManagerial Economics 10e 2003 South-Western/Thomson Learning212Figure 2.5Locating Maximum and Minimum Values of a FunctionManagerial Economics 10e 2003 South-Western/Thomson Learning213Figure 2.6Total Revenue, Tot

7、al Cost, and Profit MaximizationManagerial Economics 10e 2003 South-Western/Thomson Learning214Figure 2.7Profit-Maximizing Output ConditionsManagerial Economics 10e 2003 South-Western/Thomson Learning215Figure 2.8Profit Versus Revenue MaximizationManagerial Economics 10e 2003 South-Western/Thomson L

8、earning216Figure ST2.1Average Cost MinimizationManagerial Economics 10e 2003 South-Western/Thomson Learning217Figure ST2.2Finding the Maximum of a Function of Two Variables:Q = 5,000 - 10P + 40A + PA - 0.8A2 - 0.5P 2Managerial Economics 10e 2003 South-Western/Thomson Learning218Figure 2A.1The Role o

9、f Constraints in Profit MaximizationManagerial Economics 10e 2003 South-Western/Thomson Learning219Figure 2A.2Demand and SupplyChapter 310EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCookHypothetical Industry Demand Curve for New Domes

10、tic AutomobilesManagerial Economics 10e 2003 South-Western/Thomson Learning321Figure 3.1Hypothetical Industry Demand Curves for New Domestic Automobiles at Interest Rates of 6%, 8%, and 10%Managerial Economics 10e 2003 South-Western/Thomson Learning322Figure 3.2Hypothetical Industry Supply Curve for

11、 New Domestic AutomobilesManagerial Economics 10e 2003 South-Western/Thomson Learning323Figure 3.3Hypothetical Industry Supply Curves for New Domestic Automobiles at Interest Rates of 6%, 8%, and 10%Managerial Economics 10e 2003 South-Western/Thomson Learning324Figure 3.4Surplus, Shortage, and Marke

12、t EquilibriumManagerial Economics 10e 2003 South-Western/Thomson Learning325Figure 3.5Comparative Statics of Changing DemandManagerial Economics 10e 2003 South-Western/Thomson Learning326Figure 3.6(a)Comparative Statics of Changing SupplyManagerial Economics 10e 2003 South-Western/Thomson Learning32

13、7Figure 3.6(b)Comparative Statics of Changing Demand and Changing Supply ConditionsManagerial Economics 10e 2003 South-Western/Thomson Learning328Figure 3.7Demand and Supply CurvesManagerial Economics 10e 2003 South-Western/Thomson Learning329Figure ST3.1Demand AnalysisChapter 410EMANAGERIALECONOMIC

14、S 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCookRepresentative Utility Function for the Consumption of Goods and ServicesManagerial Economics 10e 2003 South-Western/Thomson Learning431Figure 4.1Downward-Sloping Demand Curve for HamburgersManagerial Econ

15、omics 10e 2003 South-Western/Thomson Learning432Figure 4.2Representative Indifference Curves Based on Table 4.1 DataManagerial Economics 10e 2003 South-Western/Thomson Learning433Figure 4.3Indifference Curves with Continuous Substitution of X and YManagerial Economics 10e 2003 South-Western/Thomson

16、Learning434Figure 4.4Consumption Effects of Changes in Budget and Relative PricesManagerial Economics 10e 2003 South-Western/Thomson Learning435Figure 4.5Income and Substitution Effects Following a Reduction in the Price of GoodsManagerial Economics 10e 2003 South-Western/Thomson Learning436Figure 4

17、.6Optimal Market Baskets for ConsumptionManagerial Economics 10e 2003 South-Western/Thomson Learning437Figure 4.7Completely Inelastic Demand Curve: = 0Managerial Economics 10e 2003 South-Western/Thomson Learning438Figure 4.8Price per unit ($)Completely Elastic Demand Curve: = - Managerial Economics

18、10e 2003 South-Western/Thomson Learning439Figure 4.98Price Elasticity of Demand Varies Along a Linear Demand CurveManagerial Economics 10e 2003 South-Western/Thomson Learning440Figure 4.10Relations Among Price Elasticity and Marginal, Average, and Total RevenueManagerial Economics 10e 2003 South-Wes

19、tern/Thomson Learning441Figure 4.11Demand EstimationChapter 510EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCookPrice/Quantity Plot for Product XManagerial Economics 10e 2003 South-Western/Thomson Learning543Figure 5.1Supply and Demand

20、 CurvesManagerial Economics 10e 2003 South-Western/Thomson Learning544Figure 5.2Shifting Supply Curve Tracing Out Stable Demand CurveManagerial Economics 10e 2003 South-Western/Thomson Learning545Figure 5.3Scatter Diagrams of Various Unit Cost/Output RelationsManagerial Economics 10e 2003 South-West

21、ern/Thomson Learning546Figure 5.4aScatter Diagrams of Various Unit Cost/Output Relations (contd)Managerial Economics 10e 2003 South-Western/Thomson Learning547Figure 5.4bRegression Relation Between Units Sold and Personal Selling Expenditures For Electronic Data Processing (EDP), Inc.Managerial Econ

22、omics 10e 2003 South-Western/Thomson Learning548Figure 5.5Use of the Standard Error of the Estimate to Define Confidence IntervalsManagerial Economics 10e 2003 South-Western/Thomson Learning549Figure 5.6Explained and Unexplained Variations of the Dependent Variable in a Regression ModelManagerial Ec

23、onomics 10e 2003 South-Western/Thomson Learning550Figure 5.7F Distribution with 4 and 30 Degrees of Freedom (for a regression model with an intercept plus four X variables tested over 35 observations)Managerial Economics 10e 2003 South-Western/Thomson Learning551Figure 5.8t distributionManagerial Ec

24、onomics 10e 2003 South-Western/Thomson Learning552Figure 5.9ForecastingChapter 610EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCookTime-Series Characteristics: Secular Trend and Cyclical Variation in Womens Clothing SalesManagerial Eco

25、nomics 10e 2003 South-Western/Thomson Learning654Figure 6.1aTime-Series Characteristics: Seasonal Pattern and Random FluctuationsManagerial Economics 10e 2003 South-Western/Thomson Learning655Figure 6.1bMicrosoft Corp. Sales Revenue, 19842001Managerial Economics 10e 2003 South-Western/Thomson Learni

26、ng656Figure 6.2Gross Domestic Product, 1959PresentManagerial Economics 10e 2003 South-Western/Thomson Learning657Figure 6.3Composite Indexes of 10 Leading, Four Coincident, and Seven Lagging Indicators (1987 + 100)Managerial Economics 10e 2003 South-Western/Thomson Learning658Figure 6.4Source: The C

27、onference Board Web site at The National Bureau of Economic Research Web Site Is a Treasure Trove of Forecast InformationManagerial Economics 10e 2003 South-Western/Thomson Learning659Figure 6.5Resources for Economists on the Internet Is a Valuable Forecasting ResourceManagerial Economics 10e 2003 S

28、outh-Western/Thomson Learning660Figure 6.6Barrons Publishes Timely Information on Economic IndicatorsManagerial Economics 10e 2003 South-Western/Thomson Learning661Figure 6.7Nine Common Trends Can Be Forecast by Using Exponen-tial Smoothing MethodsManagerial Economics 10e 2003 South-Western/Thomson

29、Learning662Figure 6.8The Appropriate Forecast Technique Tends to Vary over the Life Cycle of a ProductManagerial Economics 10e 2003 South-Western/Thomson Learning663Figure 6.9Gross Domestic Product 19662000Managerial Economics 10e 2003 South-Western/Thomson Learning664Figure ST6.1Multiple Regression

30、Managerial Economics 10e 2003 South-Western/Thomson Learning665Figure ST6.2Production Analysis and Compensation PolicyChapter 710EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCookRepresentative Production SurfaceManagerial Economics 10e

31、 2003 South-Western/Thomson Learning767Figure 7.1Total, Average, and Marginal Product for Input X, Given Y = 2Managerial Economics 10e 2003 South-Western/Thomson Learning768Figure 7.2Total Marginal, and Average Product Curves: (A) Total Product Curve for X, Holding Y = Y1; (B) Marginal Product Curve

32、 for X, Holding Y = Y1Managerial Economics 10e 2003 South-Western/Thomson Learning769Figure 7.3Representative Isoquants for Table 7.1Managerial Economics 10e 2003 South-Western/Thomson Learning770Figure 7.4Isoquants for Inputs with Varying Degrees of Substitutability: (A) Electric Power Generation;

33、(B) Bicycle ProductionManagerial Economics 10e 2003 South-Western/Thomson Learning771Figure 7.5aIsoquants for Inputs with Varying Degrees of Substitution: (C) Dress ProductionManagerial Economics 10e 2003 South-Western/Thomson Learning772Figure 7.5bMaximum Variable Proportions for Inputs X and YMana

34、gerial Economics 10e 2003 South-Western/Thomson Learning773Figure 7.6MRP Curve Is an Input Demand CurveManagerial Economics 10e 2003 South-Western/Thomson Learning774Figure 7.7Isocost CurvesManagerial Economics 10e 2003 South-Western/Thomson Learning775Figure 7.8Optimal Input CombinationsManagerial

35、Economics 10e 2003 South-Western/Thomson Learning776Figure 7.9Returns to Scale May Be Constant, Decreasing, or IncreasingManagerial Economics 10e 2003 South-Western/Thomson Learning777Figure 7.10Productivity Growth Jumped in the Late 1990sManagerial Economics 10e 2003 South-Western/Thomson Learning7

36、78Figure 7.11Manufacturing Productivity Growth Has Been ImpressiveManagerial Economics 10e 2003 South-Western/Thomson Learning779Figure 7.12Cost Analysis and EstimationChapter 810EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCookShort-R

37、un Cost CurvesManagerial Economics 10e 2003 South-Western/Thomson Learning881Figure 8.1Total Cost Function for a Production System Exhibiting Increasing, Then Decreasing, Returns to ScaleManagerial Economics 10e 2003 South-Western/Thomson Learning882Figure 8.2Short-Run Cost Curves for Four Scales of

38、 PlantManagerial Economics 10e 2003 South-Western/Thomson Learning883Figure 8.3Long-Run Average Cost Curve as the Envelope of Short-Run Average Cost CurvesManagerial Economics 10e 2003 South-Western/Thomson Learning884Figure 8.4Effect of Transportation Costs on Optimal Plant SizeManagerial Economics

39、 10e 2003 South-Western/Thomson Learning885Figure 8.5Three Possible Long-Run Average Cost Curves for a Multiplant FirmManagerial Economics 10e 2003 South-Western/Thomson Learning886Figure 8.6Plainfield Electronics: Single Versus Multiplant OperationManagerial Economics 10e 2003 South-Western/Thomson

40、 Learning887Figure 8.7Probability Distributions of DemandManagerial Economics 10e 2003 South-Western/Thomson Learning888Figure 8.8Alternative Plants for Production of Expected 5,000 Units of OutputManagerial Economics 10e 2003 South-Western/Thomson Learning889Figure 8.9Long-Run Average Cost Curve Ef

41、fects of LearningManagerial Economics 10e 2003 South-Western/Thomson Learning890Figure 8.10Learning Curve on an Arithmetic ScaleManagerial Economics 10e 2003 South-Western/Thomson Learning891Figure 8.11Linear Cost-Volume-Profit ChartManagerial Economics 10e 2003 South-Western/Thomson Learning892Figu

42、re 8.12Breakeven and Operating Leverage (Firm A)Managerial Economics 10e 2003 South-Western/Thomson Learning893Figure 8.13aBreakeven and Operating Leverage (Firm B)Managerial Economics 10e 2003 South-Western/Thomson Learning894Figure 8.13bBreakeven and Operating Leverage (Firm C)Managerial Economics

43、 10e 2003 South-Western/Thomson Learning895Figure 8.13cCost and Production FunctionsManagerial Economics 10e 2003 South-Western/Thomson Learning896Figure P8.1Linear ProgrammingChapter 910EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCoo

44、kProduction Process Rays in Linear ProgrammingManagerial Economics 10e 2003 South-Western/Thomson Learning998Figure 9.1Production Isoquants in Linear ProgrammingManagerial Economics 10e 2003 South-Western/Thomson Learning999Figure 9.2Determination of the Least-Cost Production ProcessManagerial Econo

45、mics 10e 2003 South-Western/Thomson Learning9100Figure 9.3Optimal Input Combination with Limited ResourcesManagerial Economics 10e 2003 South-Western/Thomson Learning9101Figure 9.4Constraint Imposed by Limitations on Input AManagerial Economics 10e 2003 South-Western/Thomson Learning9102Figure 9.5Fe

46、asible SpaceManagerial Economics 10e 2003 South-Western/Thomson Learning9103Figure 9.6Graphic Solution of the Linear Programming ProblemManagerial Economics 10e 2003 South-Western/Thomson Learning9104Figure 9.7Graphic Solution of a Linear Programming Problem When the Objective Function Coincides wit

47、h a Boundary of the Feasible SpaceManagerial Economics 10e 2003 South-Western/Thomson Learning9105Figure 9.8Determination of Zero-Valued Variables at Corners of the Feasible SpaceManagerial Economics 10e 2003 South-Western/Thomson Learning9106Figure 9.9Advertising Cost-Minimization Linear Programmin

48、g ProblemManagerial Economics 10e 2003 South-Western/Thomson Learning9107Figure 9.10Cost MinimizationManagerial Economics 10e 2003 South-Western/Thomson Learning9108Figure ST9.1Profit MaximizationManagerial Economics 10e 2003 South-Western/Thomson Learning9109Figure ST9.2Perfect Competition and Mono

49、polyChapter 1010EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCookHypothetical Industry Supply CurveManagerial Economics 10e 2003 South-Western/Thomson Learning10111Figure 10.1Market Price Determination in Perfect CompetitionManagerial

50、Economics 10e 2003 South-Western/Thomson Learning10112Figure 10.2Demand Curve for a Single Firm in Perfect CompetitionManagerial Economics 10e 2003 South-Western/Thomson Learning10113Figure 10.3Competitive Firms Optimal Price/Output CombinationManagerial Economics 10e 2003 South-Western/Thomson Lear

51、ning10114Figure 10.4Long-Run Equilibrium in a Competitive MarketManagerial Economics 10e 2003 South-Western/Thomson Learning10115Figure 10.5Price, Cost, and Optimal Supply Decisions for a Firm Under Pure CompetitionManagerial Economics 10e 2003 South-Western/Thomson Learning10116Figure 10.6Firms Dem

52、and Curve Under MonopolyManagerial Economics 10e 2003 South-Western/Thomson Learning10117Figure 10.7Price/Output Decision Under MonopolyManagerial Economics 10e 2003 South-Western/Thomson Learning10118Figure 10.8Monopoly Union and Monopsony Employer Confrontation in the Labor MarketManagerial Econom

53、ics 10e 2003 South-Western/Thomson Learning10119Figure 10.9Profit Rates Display Mean Reversion over TimeManagerial Economics 10e 2003 South-Western/Thomson Learning10120Figure 10.10Monopolistic Competition and OligopolyChapter 1110EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R

54、 S C H E YPowerPointPresentationbyCharlieCookRelation Between Product Differentiation and Elasticity of DemandManagerial Economics 10e 2003 South-Western/Thomson Learning11122Figure 11.1Price/Output Combinations Under Monopolistic CompetitionManagerial Economics 10e 2003 South-Western/Thomson Learni

55、ng11123Figure 11.2Shifting Demand Under OligopolyManagerial Economics 10e 2003 South-Western/Thomson Learning11124Figure 11.3aShifting Demand Under Oligopoly(contd)Managerial Economics 10e 2003 South-Western/Thomson Learning11125Figure 11.3bPrice/Output Determination for a CartelManagerial Economics

56、 10e 2003 South-Western/Thomson Learning11126Figure 11.4Oligopoly Pricing with Dominant-Firm Price LeadershipManagerial Economics 10e 2003 South-Western/Thomson Learning11127Figure 11.5Kinked Demand CurveManagerial Economics 10e 2003 South-Western/Thomson Learning11128Figure 11.6Optimal Level of Adv

57、ertisingManagerial Economics 10e 2003 South-Western/Thomson Learning11129Figure 11.7Economic Census Data Are Available on the InternetManagerial Economics 10e 2003 South-Western/Thomson Learning11130Figure 11.8Pricing PracticesChapter 1210EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R

58、 K H I R S C H E YPowerPointPresentationbyCharlieCookConsumers SurplusManagerial Economics 10e 2003 South-Western/Thomson Learning12132Figure 12.1Price Discrimination for an Identical Product Sold in Two MarketsManagerial Economics 10e 2003 South-Western/Thomson Learning12133Figure 12.2Monopoly Per-

59、Unit Pricing Versus Two-Part PricingManagerial Economics 10e 2003 South-Western/Thomson Learning12134Figure 12.3Optimal Pricing for Joint Products Produced in Fixed ProportionsManagerial Economics 10e 2003 South-Western/Thomson Learning12135Figure 12.4Optimal Pricing for Joint Products Produced in F

60、ixed Proportions with Excess Production of One ProductManagerial Economics 10e 2003 South-Western/Thomson Learning12136Figure 12.5Regulation of the Market EconomyChapter 1310EMANAGERIALECONOMICS 2003 South-Western/Thomson LearningM A R K H I R S C H E YPowerPointPresentationbyCharlieCookRegulatory B