Post on 11-Apr-2015
FAKULTAS EKONOMI UNPASFAKULTAS EKONOMI UNPASSEKOLAH TINGGI MANAJEMEN BISNIS TELKOMSEKOLAH TINGGI MANAJEMEN BISNIS TELKOM
Principles ofPrinciples of
Economics:Economics:MicroeconomicsMicroeconomics
Subarna TirtakusumahSubarna TirtakusumahLektor Kepala Ilmu EkonomiLektor Kepala Ilmu Ekonomi
Economics Text-BooksEconomics Text-Books Samuelson, Paul A and William D. Samuelson, Paul A and William D.
Nordhaus, Nordhaus, EconomicsEconomics, 18, 18th th
Edition, 2005.Edition, 2005. Mankiw, N. Gregory, Mankiw, N. Gregory, Principles of Principles of
EconomicsEconomics, 3, 3rd rd Edition, 2004.Edition, 2004. Etc. Etc.
CONTENTS BEFORE MID TESTCONTENTS BEFORE MID TEST
1. FUNDAMENTALS OF ECONOMICS 52. SUPPLY, DEMAND, AND PRODUCT MARKETS
193. ELASTICITY ANALYSIS
354. CONSUMERS BEHAVIOR THEORY
535. PRODUCTION & COSTS THEORY 676. MARKET STRUCTURES: PERFECTLY
COMPETITION 907. MARKET STRUCTURES: IMPERFECTLY
COMPETITION 1108. MID T E S T
CONTENTS AFTER MID TESTCONTENTS AFTER MID TEST1. MACROECONOMICS: PROBLEMS,
OBJECTIVES, POLICIES, AND MEASURES 2. AGGREGATE DEMAND, AGGREGATE SUPPLY
CONSUMTION, AND INVESTMENT, 3. MULTIPLIER MODEL AND FISCAL POLICY4. MONEY MARKET, CENTRAL BANK AND
MONETERY POLICY5. ECONOMIC GROWTH AND DEVELOPMENT6. INTERNATIONAL FINANCIAL & OPEN
ECONOMIC SYSTEM7. UNEMPLOYMENT, INFLATION AND
ECONOMIC POLICIES8. FINAL TEST
• Economics: Scarcity, Economic Goods and Efficiency; Microeconomics and Macroeconomics
• The Three Problems Of Economic Organization
• Inputs And Outputs: The Production-possibility Frontier
• Market, Command, and Mixed Economies• Trade, Money, and Capital• Failure of Market Economy • Government’s Economic Role
1. FUNDAMENTALS OF ECONOMICS
ECONOMICS is the study of how societies
use scarce resources
to produce
valuable commodities
and distribute them
among different people.
INTI ILMU EKONOMI
SCARCITY
ECONOMIC GOODS
EFFICIENCY
PERBEDAAN MICROECONOMICS DENGAN MACROECONOMICS
MICROECONOMICS
ADAM SMITH, The Wealth of Nations, 1776
• Terbentuknya harga komoditi• Penentuan harga tanah, tng
kerja dan modal• Meneliti mekanisme pasar• The Invisible Hand
• Saat ini berkaitan dengan entitas individual seperti pasar, perusahaan dan rumah tangga.
MACROECONOMICS
J.M.KEYNES, The General Theory of Employment, Interest and Money, 1935.
• Analisis faktor-faktor penyebab siklus bisnis
• Pengangguran• Inflasi
• Saat ini mengkaji ekonomi secara keseluruhan: investasi, konsumsi, jumlah uang, Kebijakan moneter, krisis keuangan internasional, ekonomi neg berkembang.
SCARCITY:The Production Possibility Frontier (PPF)
- - - - - - - - - - --
0 1 2 3 4 5
----------------
----------------
1413121110
9876
543210
14
15----------------
- . B
. C
. D
. E
. F
Possibi-
lities
Butter (mi-llions of pounds)
Guns (thou-sands)
A 0 15
B 1 14
C 2 12
D 3 9
E 4 5
F 5 0
Gun
s (t
hous
ands
)
Butter (millions of pounds)
.PPF/PPC. A
. G
. H
Economic GrowthShifts the PPF Outwarda. Poor Nation b. High-Income Nation
Lu
xuri
es (
cars
, ste
reos
,…)
Lu
xuri
es (
cars
, ste
reos
,…)
L L
. A . A
. B
Necessities (food, …)FO
Necessities (food, …)FO
Choose Between Public Goodsand Private Goods
a. Frontier Society b. Urban Society
Pu
blic
Goo
ds (
Hig
hway
s,…
)
Pu
. A
Private Goods (food,…)PrO
Pu
blic
Goo
ds (
Hig
hway
s,…
)
Pu
Private Goods (food, …)PrO
. A
. B
The Three Problems Of Economic Organization
• What ?Apa yang akan diproduksi dan dalam jumlah berapa?
• How ?Bagaimana cara memproduksinya agar efisien?
• For Whom ?Untuk siapa barang tersebut disediakan?
ECONOMIES SYSTEM
• MARKET ECONOMIES SYSTEMKebanyakan persoalan ekonomi diselesaikan melalui mekanisme pasar
• COMMAND ECONOMIES SYSTEMKeputusan produksi dan distribusi diserahkan/diatur oleh pemerintah
• MIXED ECONOMIES SYSTEMCampuran antara sistem ekonomi pasar denga sistem ekonomi komando
The Three Problems Of Economic Organization and Economies System
RUMAHTANGGA
PRDUSEN/PERUSAHAAN
PASARBARANG
PASARFAKTOR
PERMINTAAN BARANG PENAWARAN BARANG
PENAWARAN FAKTOR PERMINTAAN FAKTOR
W H A T
H O W
FOR WHOM
Bagaimana cara mempoduksi
Input → output (Q)Input : Land (lahan)
Labour (Tenaga kerja)Capital ( modal/barang2 modal)
Q = f (Land, Labour, Capital)
Input adalah langka, oleh karena itu penggunaannya harus efisien
TRADE, MONEY AND CAPITAL• Sebuah ekonomi yang maju dicirikan oleh jaringan
perdagangan yang rumit, antar individu, antar negara, dan bergantung pada spesialisasi yang tinggi dan pembagian kerja yang rumit.
• Perekonomian modern saat ini menggunakan uang, atau alat pembayaran secara luas. Aliran uang merupakan sumber hidup. Uang menjadi tolok ukur mengukur nilai ekonomis dari segala sesuatu dan untuk membiayai perdagangan.
• Teknologi industri modern sangat bersandar pada modal dalam jumlah yang sangat besar. Barang2 modal mempengaruhi daya kerja manusia menjadi lebih efisien, sehingga produktivitas meningkat sangat besar.
FAILURE OF MARKET ECONOMY
a. monopoly
b. Externalities
c. public goods
d. income gap
e. inflation,
f. unemployment
g. slow economic growth
h. incomplete information
GOVERNMENT’S ECONOMIC ROLE
a. Efficiency,dengan menciptakan persaingan, mengendalikan eksternalitas seperti polusi, dan menyediakan barang-barang publik.
b. Equity,dengan menggunakan pajak dan program-program pengeluarannya serta mendistribusikan kembali kepada kelompok-keompok khusus (yang berpendapatan rendah).
c. Stability,dengan membantu perkembangan stabilitas dan pertumbuhan ekonomi (mengurangi pengangguran dan inflasi sambil mendorong pertumbuhan ekonomi) melalui kebijakan fiskal dan moneter.
2. SUPPLY, DEMAND, AND PRODUCT MARKETS
2.1. The Demand Function and Curve2.2. The Demand Curve Shifts2.3. The Supply Function and Curve2.4. The Supply Curve Shifts 2.5. Market Equilibirium2.6. Effect Of A Shift In Supply Or Demand Effect Of A Shift In Supply Or Demand
On Market EquilibiriumOn Market Equilibirium
2.1 The Demand Function2.1 The Demand FunctionThe Demand FunctionThe Demand FunctionQdx = F ( Px, I, Py, T, N, . . . )Qdx = F ( Px, I, Py, T, N, . . . )Qdx = F (Px| … )Qdx = F (Px| … )
Where:Where:Qdx : Quantity Demand Of XQdx : Quantity Demand Of XPx : Price Of XPx : Price Of XI : Average Income I : Average Income (Normal, Lux, And Inferior Goods)(Normal, Lux, And Inferior Goods)
Py : Price Of Y As Related GoodsPy : Price Of Y As Related Goods (Substitution, And Complements Goods)(Substitution, And Complements Goods)
T : Preferences (Taste)T : Preferences (Taste)N : Size Of The MarketN : Size Of The Market……. : Special Infuences. : Special Infuences
The Law Of Demand: …The Law Of Demand: …
The Demand Schedule & Curve
Demand Schedule
Px Qdx $ per unit
millions
of unit
A 5 9
B 4 10
C 3 12
D 2 15
E 1 20
Demand Curve
Px ($)
5
4
3
2
1
05 10 15 20
● A
● B
● C
● D
E ●
Qx (Jt unit)
Demand
Market Demand Market Demand Derived from Individual Derived from Individual
DemandsDemands
P
q1
P P
q2 Q=q1+q2
d1
d2
a1;a2; A=a1+ a2;
1 2 21
$10
$5 $5 $5
$10$10D
Dd2
d1
Market demand curve
(a) Smith’s Demand (b) Brown’s Demand (c) Their Combined Demand
Quantity1 Quantity2Total quantity
$7
2.2 Shifts in 2.2 Shifts in DemandDemand
P
Q
D”
D’
D
D
D’
D”
● A ● A’● A”
O
Normal goods : I +
Inferior goods : I –
Consumer taste : T +
P Substitution goods : Py+
P Complementer goods : Py-
Normal goods : I -
Inferior goods : I +
Consumer taste : T -
P Substitution goods : Py-
P Complementer goods : Py+
Q1 Q2Q3
P1
2.3 The Supply Function The Supply Function:The Supply Function:Qsx = f ( Px, Pi, Tg, G, Py, … )Qsx = f ( Px, Pi, Tg, G, Py, … )Qsx = f (PxQsx = f (Px|…)|…)Where :Where : Qsx : Supply quantity of x Qsx : Supply quantity of x
Px : Price of xPx : Price of xPi : Price of inputPi : Price of inputTg : TechnologyTg : TechnologyG : Government Policy (Tx&S)G : Government Policy (Tx&S)Py : Price of related goodsPy : Price of related goods… … : Special Influence: Special Influence
The Supply Schedule and Curve
Supply Schedule
Px Qsx $ per unit
millions
of unit
A 5 18
B 4 16
C 3 12
D 2 7
E 1 0
Supply Curve
0
1
2
3
4
5
Px ($)
5 10 15 20
Qx (juta unit)
D ●
● E
C ●
B ●
A ●
Supply
.
SPrice
P
0Q
Quantity Supplied
S’
2.4 SHIFTS IN SUPPLY2.4 SHIFTS IN SUPPLY
S’’
Technology : T -
Input prices : Pi+
Price of Subs goods : Py +
Price of Comp goods : Py -
Tax : Tx + Subsidies : Sb -
Technology : T +
Input prices : Pi -
Price of Subs goods : Py -
Price of Comp goods : Py +
Tax : Tx - Subsidies : Sb +
P1
Q2Q1Q3
2.5 Equilibirium Of Supply And Demand
A 5 9 18 Surplus Downward
B 4 10 16 Surplus Downward
C 3 12 12 Equilibrium Neutral
D 2 15 7 Shortage Upward
E 1 20 0 Shortage Upward
(1) (2) (3) (4) (5) Possible Quan demanded Quan suppiyed price (millions (millions State of Pressure ($ per box) of boxes) of boxes) market on price
Market Equilibirium
Px ($)
5
4
3
2
1
05 10 15 20
Qx (Jt unit)
C ●
A ●
B ●
● D
E ● Demand
D’ ●
● B’
● A’
Supply
● E’
Equilibrium point
Surplus/ExcessSupply
Shotage/Excess
Demand
.
Q
P P
Q
D
DS
SS’
S’
E’
E
D’
D’S
S
E’
E
D
D
P r
i c
e
Quantity
Quantity
P r
i c
e
(a) Supply Shift (b) Demand Shift
2.6 Effect Of A Shift In Supply Or Demand 2.6 Effect Of A Shift In Supply Or Demand On Market EquilibiriumOn Market Equilibirium
The Effect on Price and Quantity of Different Demand and Supply Shifts
Demand and supply Effect on price
shifts and quantityIf demand rises… The demand curve shifts to the right, Price
and… Quantity
If demand falls… The demand curve shifts to the left, price
and… Quantity
If supply rises… The supply curve shifts to the right, price
and… Quantity
If supply falls… The supply curve shifts to the left, price
and… Quantity
Exp.1. Impact of Tax on Both of Consumer and Producer
P
Q
D
S’
S
E
E’
.901.00
.10
O
P2
P1
Q1Q2
P3
Exp.2. Impact Of Tariff And Quota
Pt
Pf
P
O
SD
Ef
Et
E
Sf
St
QQ1
A
B
C
F G H I J
K L
Pd
Impor sbl tarif
Impor ssdh tarif
Exp.3. Minimum Floors And Maximum Ceilings
W
N
D S
E
Unemployment
Market equilibirium
FWmin
Wmarket
O
Effect of Minimum Wage (floor price)Contoh di Indonesia : UMR/UMK
Unemployment
Exp.4. Price Controls Produce Shortages(Ceiling price)
P
Q
D’ D
S
KJC
EEquilibrium levelWithout price ceiling
Ceiling price
JK: Deficiency of supplyat ceiling price
O
M
C
3. ELASTICITY ANALYSIS
3.1. Basic Concept Of Elasticity
3.2. Price Elasticity Of Demand
3.3. Income Elasticity Of Demand
3.4. Cross Elasticity Of Demand
3.5. Price Elasticity Of Supply
3.1. Basic Concept Of ElasticityElastisitas,menunjukan besarnya perubahan variabel terikat sebagai akibat perubahan variabel-variabel yang mempengaruhinya.
Koefisien Elastisitas (E),angka yang menunjukan besarnya perubahan variabel terikat sebagai akibat perubahan variabel yang mempengaruhinya sebesar 1%.
E > 1 : Elastis (Elastic)E = 1 : Elastis –uniter (Unit-elastic)E < 1 : Inelastis (Inelastic)
3.2 Price Elasticity Of Demand
Persentase perubahan permintaan Persentase perubahan harga
PP
Ep =
Ep =
Ep =Q
P
P
Q
Ep = 2/)(2/)( 2121 PP
P
Q
3.2.1 Numerical Calculation of Elasticity Coefficient
030
0,2 (inelastic)125210
220
1 (unit elastic)315210
410
5 (elastic)55210
60
Ep½(P1+P2)½(Q1+Q2)∆PP∆QQ
3.2.2 Arc Elasticity
P
D
D
A
Q1
P1
B
Q2
P2
Elastic demand shows large- quantity response to price change
Q0
PP
Ep =
1
21
1
21
OQ
PP
OQ
QQ=
3.2.3 Elasticity Of Straight Line And Point Elasticity
P
Q
.
.
.
D
A
B
M
R
Z D
ED<1 (inelastis)
ED=1 (elastis uniter)
ED>1 (elastis)
M
O
Slope and elasticity are not the same thing
Simple Rule for Calculatingthe Demanded Elasticity
RA
RZE
MA
MZE
BA
BZE
pR
pM
pB
Slope : OZ / OA
3.2.4 Price Elasticity of Demand Falls Into Categories
P
Q
P
Q
P
Q
D
D D
D
D
DB B B
AA
A
(a) Elastic Demand (b) Unit-Elastic Demand (c) Inelastic Demand`
3.2.5 Perfectly Elasticity and Inelastic Demands
P
Q
D’ D’
D
DPerfectlyinelasticdemand
Perfectly elasticdemand
Selected Estimates of Price Selected Estimates of Price Elasticities of DemandElasticities of Demand
Commodity Price elasticity Tomatoes 4.60 Green peas 2.80 Legal gambling 1.90 Taxi service 1.42 Furniture 1.00 Movies 0.87 Shoes 0.70 Legal services 0.61 Medical insurances 0.31 Bus travel 0.20 Residential Electricity 0.13
3.2.6 Elasticity And Revenue
P
P1
P
P2
PERMINTAAN ELASTIS PERMINTAAN INELASTIS
De
Di
A
BC
Q Q
N M
L
Q2Q1 OO Q4Q3
Ketika harga turun, TR naik dari 0Q1AP1 menjadi 0Q2BP2
Ketika harga turun, TR turun dari0Q3LP1 menjadi 0Q4MP2
P1
P2
3.2.7 Faktor-faktor Yang Menentukan Elastisitas Harga
1. Tingkat substitusi (makin banyak pengganti makin elastis).
2. Jumlah pemakai (makin banyak pemakai makin inelastis)
3. Proporsi kenaikan harga terhadap pendapatan (makin besar proporsinya makin elastis)
4. Jangka waktu (makin panjang, makin elastis)
3.2.8 Elasticities: Summary
of Crucial ConceptsValue of Demand Descrip- Definition Impact onElasticity tion revenues
Greater than one Elastic Presentage change in quantity Revenue increase
(ED>1) demand demanded greater than when price
percetage change in price decreases
Equal to one Unit-Elastic Percentage change in quantity Revenue
(ED=1) demand demanded equal to percentage unchanged when
change in price price decreases
Less than one) Inelastic Precentage change in quantity Revenues
(ED<1) demand demanded less than pecentage descrease when
change in price price decreases
3.3 Income Elasticity Of Demand
Q
I
I
QEi
II
QQEi /
/
Ei =Persentasi Perubahan Permintaan
Persentasi Perubahan Pendapatan
Ei Barang normal, elastis ( Ei ≥ 1 )Ei Barang mewah, elastis ( Ei >> 1 )Ei Barang esensial, inelastis (Ei < 1 )Ei Barang inferior, elastis/inelastis (negatif)
Selected Estimates of Income Selected Estimates of Income Elasticities of DemandElasticities of Demand
Commodity Income elasticity
Automobiles 2.26 Owner-occupid housing 1.49 Furniture 1.48 Books 1.44 Restaurant meals 1.40 Clothing 1.02 Physicians service 0.75 Tobacco 0.64 Eggs 0.37 Margarine -0.20 Pig product -0.20 Flour -0.36
3.4 Cross Elasticity Of Demand
yy
xxc PP
QQE
/
/
Ec=Persentase Perubahan Permintaan Barang X
Persentase Perubahan Harga Barang Y
x
y
y
xc Q
P
P
QE
Ec Barang Substitusi, Positif ( + )Ec Barang Komplementer, Negatif ( - )
3.5 Price Elasticity Of Supply
Es =Persentasi Perubahan Penawaran
Persentasi Perubahan Harga
PP
QQE ss
s /
/
s
ss Q
P
P
QE
3.5.1 Supply Elasticity Depands upon Producer Response to Price
P
Q
(a) Es=0 , inelastis sempurna (tegak)
(b) E’s=1 , elastis uniter (membentuk sudut 45º)
(c) E”s= , elastis sempurna (datar)
(e) Es < 1 , inelastis (curam)
(d) Es > 1 , elastis (landai)
O
3.5.2 Faktor-faktor Yang Mempengaruhi Elastisitas
Penawaran
1. Jenis produk (umumnya pertanian inelastis, industri elastis)
2. Sifat perubahan biaya produksi (biaya tinggi: inelastis, biaya rendah: elastis)
3. Jangka waktu (singkat inelastis, makin berjangka panjang makin elastis)
4. CONSUMER BEHAVIOR THEORY
4.1 Consumer Behavior Theory
4.2 Total And Marginal Utility
4.3 The Law of Diminishing Marginal Utility
4.4 Consumer Quilibirium
4.5 Ordinal Theory: Indifference Curve Analysis
4.6 Substitution & Income Effect
4.7 Indifference & Demand Curve
4.1 Consumers Behavior Theories• Menjelaskan tentang perilaku konsumen dalam
mengalokasikan sumber daya ekonominya, dengan tujuan mencapai kepuasan maksimum.
• Cardinal and Ordinal Theory• Asumsi-asumsi:
– Makin banyak konsumsi thd barang (goods) makin bermanfaat.
– Ukuran manfaat adalah utility.– The Law of Diminishing Marginal Utility (Gossen
Law).– Minimal ada dua sikap tentang preferensi, lebih
suka (prefer) atau sama-sama disukai (indifference).
– Perfect knowledge
(1) (2) (3) Quantity of a Total Marginal good consumed utility utility Q U MU
0 0 4
1 4 3
2 7 2 3 9
1 4 10 0 5 10
4.2 Total And Marginal Utility4.2 Total And Marginal Utility
4.3 The Law of Diminishing Marginal Utility4.3 The Law of Diminishing Marginal Utility
U
Q
MU
Q
(a) Total Utility (b) Marginal Utility
0 0
4.4 Consumer Quilibirium:Kaitannya dengan MU dan harga
z
z
y
y
x
x
P
MU
P
MU
P
MUMAKSIMISASI UTILITY :
EFEK SUBSTITUSI :(bila harga X naik) Y
Y
X
X
P
MU
P
MU
4.5 Ordinal Theory: Indifference Curve
• Indifference curve adalah tempat kedudukan titik titik kombinasi konsumsi terhadap dua macam barang yang memberikan kepuasan yang sama.
• Asumsi-asumsi:
– Semakin jauh dari O semakin tinggi kepuasan.
– Downward sloping.
– Convex to origin.
INDIFFERENCE CURVE:INDIFFERENCE CURVE:Apendix 5
Food Clothing
A 1 6B 2 3C 3 2D 4 11/2
D
.
..
C
B
A
Clo
thin
g
Food
A Consumer’sIndifference Curve
IndifferenceCombinations
O
.
.
.
.
.
. . .
6
3
2
1½
.1 2 3 4
INDIFFERENCE MAPINDIFFERENCE MAP(A Family of Indifference (A Family of Indifference
Curves)Curves)C
F
U4
U3
U2
U1
Clo
thin
g
Food
B.
A.
C.D.
O
BUDGET LINE:BUDGET LINE:Income Constrains Consumer SpendingIncome Constrains Consumer Spending
Food Clothing
M 40 0N 30 1½O 20 3P 10 4½Q 0 6
Alternative Consumption Possibilities
Income: Rp.1200.000Price of food: Rp.30.000
Price of clothing: Rp.200.000
Clothing
Food
.
.
Q6
0
. N
40.
Consumer’s Budget Line
.
10 20 30
4½
3
1½
M
O
P
CONSUMER EQUILIBIRIUM:CONSUMER EQUILIBIRIUM:Consumer’s Most Preferred and FeasibleConsumer’s Most Preferred and Feasible
Consumption Bundle Is Attenited at BConsumption Bundle Is Attenited at B
C
F
B
M
U4
U3
U2
U1
Clo
thin
g
Food
Consumer’s Equilibrium
O
N
INCOME CONSUMPTION INCOME CONSUMPTION CURVES:CURVES:
Effect of Income Change on EquilibriumEffect of Income Change on Equilibrium
C
F
U4
U3
U2
U1
Clo
thin
g
Food
B
M’
N’
B’
ICC
OM
N
PRICE CONSUMPTION PRICE CONSUMPTION CURVECURVE
Effect of Price Change on EquilibriumEffect of Price Change on EquilibriumC
F
U4
U3
U2
U1
Clo
thin
g
Food
B
M
N
M”
B”B’”
PCC
O
SUBSTITUTION EFFECT AND INCOME EFFECT
Barang M
Barang NO
U1
U2
A
A1
M1
N1
M
N B B1 C
M2
N2
E
E2
E1
N2N1: Income effect
NN2 :Substitution effect
NN1 : Total effect
INDIFFERENCE CURVE AND DEMAND CURVE
O
O
Mak
anan
K1
Pk1
M1
M2
M3
K2
U1
Y/Pk2
Y/PM
Y/Pk3
K1 K2 K3
Pakaian
Pakaian
Har
gaP
akai
an
Y/Pk1
Pk2
Pk3
K3
U2
U3
E1
E2
E3
E1
E2
E3 Demand
5. PRODUCTION THEORY& COSTS ANLYSIS
5.1. Basic Concept of Production Theory5.2. Short Run Prodution Analysis: The Law
of Diminishing Returns5.3. Long Run Production Analysis:
Isoquant, Isocost, Least Cost Combination, Expansion Path.
5.4. Returns to Scale: Constant, Increasing, Decreasing
5.5. Basic Concept of Cost: Economic Cost, Accounting Cost, Opportunity Cost.
5.6. Short Run Cost Analysis5.7. Long Run Cost Analysis
5.1 Basic Concept1. Business firm merupakan organisasi yang
melaksanakan dan mengurus proses produksi.2. Production Function , menjelaskan hubungan antara
jumlah output dengan jumlah input (land, capital and labor).
3. Total Product (TP) adalah output total yang diproduksi. Average Product (AP) sama dengan TP dibagi dengan jumlah input (L).
4. Marginal product (MP) suatu factor adalah tambahan output sebagai tambahan Satu unit input variable sedangkan input lainnya konstan.
5. The law of diminishing return terjadi pada saat MP menurun ketika input ditambah sedangkan input lainnya konstan.
** Fungsi Produksi : Q = f ( A, K, L )Fungsi Produksi : Q = f ( A, K, L )
** Fungsi Produksi Jangka Pendek:Fungsi Produksi Jangka Pendek:Ada satu faktor produksi variabel sedangkan Ada satu faktor produksi variabel sedangkan yang lainnya diasumsikan tetap.yang lainnya diasumsikan tetap.
* Produk Marjinal:* Produk Marjinal:MPMPLL = = ∆TP/∆L∆TP/∆L
* Produk rata-rata: * Produk rata-rata: APAPLL = TP / L = TP / L
* Elastisitas output: * Elastisitas output: EELL = MP= MPLL /AP /APLL
* Hukum pertambahan hasil yang semakin * Hukum pertambahan hasil yang semakin berkurang berkurang (The Law of Diminishing Return)(The Law of Diminishing Return)
5.2 Short Run Prodution 5.2 Short Run Prodution AnalysisAnalysis
(1) (2) (3) (4)(1) (2) (3) (4)
Unit of Total Marginal Unit of Total Marginal EverageEverage
labor input product product labor input product product product product
0 00 0
2,0002,000
1 2,000 2,0001 2,000 2,000
1,0001,000
2 3,000 1,5002 3,000 1,500
500500
3 3,500 1,1673 3,500 1,167
300300
4 3,800 9504 3,800 950
100100
5 3,900 7805 3,900 780
TOTAL, MARGINAL AND AVERAGE TOTAL, MARGINAL AND AVERAGE PRODUCTPRODUCT
Marginal Product Is Derived from Total Marginal Product Is Derived from Total ProductProduct
Chapter 6
TP
Labor
MP
(a) Total Product (b) Marginal Product
Labor
Questions for DiscussionQuestions for Discussion (1) (2) (3) (4)
18 – Inch Pipe
Total Marginal Average Product Product Product
Pumping (barrels (barrels per (barrels per horse power per day) day per hp) day per hp)
10,000 86,000
20,000 114,000
30,000 134,000
40,000 150000
50,000 164,000
5.3 Long Run Production 5.3 Long Run Production AnalysisAnalysis IsoquantIsoquant: Inputs And Costs Of Producing A : Inputs And Costs Of Producing A
Given Level Of OutputGiven Level Of Output
(1) (2) (3) (4) Input Total Cost Total Cost Combination When When
PL= $2 PL= $2
Labor Land PA= $3 PA= $1 (unit) (unit) ($) ($)
A 1 6 20 ...B 2 3 13 7C 3 2 12 …D 6 1 15 …
Equal-Product (Isoquant) CurveEqual-Product (Isoquant) CurveA
Labour
A
B
C
q = 346D
Lan
d
1 2 3 60
6
3
2
1
I S O C O S T
• Cost $18,000• Rent $ 3,000• Wage $ 2,000
• Comb Land LabourA 0 9
B 1 7.5
C 2 6
D 3 4.5
E 4 3
F 5 1.5
G 6 0
0
-
-
-
-
-
-
- - - - -
1
2
10862 4
3
4
5
6
Land
Labour
Cost forTC $18.000
A
B
C
D
E
F
G
Producer Equilibirium: Producer Equilibirium: Least-CostCombinationLeast-CostCombination
Labour
Lan
d
$3
$6
$9
$12
$15
$18
.
B=$13
C=$12
q = 346D=$15
A=$20
.
.
.
Fungsi Produksi Jangka Panjang:Fungsi Produksi Jangka Panjang:
Semua faktor produksi bersifat variabelSemua faktor produksi bersifat variabel
Isoquant Isoquant (Q)(Q) L
L
OO O
Q C
KK
ExpansionPath
L : Labor K : Kapital
Isocost (C)Keseimbangan
dan Ekspansi
K
L
C1 C2 C3
Q1Q2
Q3
E1E2
E3
MAKSIMISASI OUTPUT DAN MINIMISASI BIAYA
• MINIMISASI BIAYA • MAKSIMISASI OUTPUT
LL
U
K KC1 C2
OO
U1U2
U3
C3 C
P
Q
R
X
Y
Z
5.4 Returns to Scale• Returns to scale, mencerminkan tingkat kenaikan
hasil produksi karena kenaikan semua input secara bersama-sama.
• Sebagai contoh, kalau semua input dilipatkan dua kali dan hasil produksinya berlipat dua kali juga, maka proses tersebut disebut bercirikan constant returns to scale.
• Kalau dalam kasus tersebut hasil produksinya hanya meningkat 75%, menunjukan decreasing returns to scale.
• Sedangkan jika hasil produksinya meningkat lebih dari dua kali, prosesnya disebut increasing returns to scale.
Constant, Decreasing, and Increasing Returns to scale
Cap
ital
Labor0
100Q
3
6
3 6
200QA
BC
apita
l
Labor0
100Q
3
6
3 6
150QA
B
Cap
ital
Labor0
100Q
3
6
3 6
300QA
B
Constant Returns to scale
Decreasing Returns to scale
Increasing Returns to scale
Technological Change Shifts Technological Change Shifts Production Function UpwardProduction Function Upward
TP, 2005 TP, 2005 TechnologyTechnology
TP, 1955 TP, 1955 TechnologyTechnology
InputInput
Tot
al P
rodu
ctT
otal
Pro
duct Bila ada kemajuan
teknologi makakurva TP akan
bergeser ke atas,menandakan
AP semakin besar,namun tidak
berarti ada efisiensi,karena efisiensi
memerlukan jugamodernisasi SDM.
OO L
TP1
TP2 TP, 1955 TP, 1955 TechnologyTechnology
5.5 Basic concept of Production Cost
• Biaya adalah pengeluaran untuk memperoleh input dalam rangka menghasilkan suatu barang, disebut juga biaya eksplisit.
• Biaya kesempatan (oportunity cost), hilangnya kesempatan sebagai akibat memilih kesempatan tertentu, disebut juga biaya implisit.
• Secara akuntansi yang dimaksud biaya adalah biaya ekspisit, sedangkan secara ekonomi adalah keseluruhan biaya, atau biaya eksplisit ditambah biaya implisit.
5.6 Short Run Cost Analysis
• Analisis Biaya Jangka Pendek, mengasumsikan terdapat satu biaya variabel, sedangkan yang lainnya merupakan biaya tetap.
• Analisis Biaya Jangka Panjang, mengasumsikan semua biaya adalah variabel.
• Biaya variabel, adalah biaya yang berubah jika output berubah.
• Biaya tetap, yaitu biaya yang tidak berubah berapapun jumlah output.
Cost Are Derived from Production Cost Are Derived from Production Data and Input CostData and Input Cost
(1)(1) (2) (2) (3) (3) (4) (4) (5) (5) (6) (6) Output Land inputs Labour inputs Land rent Labour wageOutput Land inputs Labour inputs Land rent Labour wage Total cost Total cost (tons of wheat) (acres) (workers)(tons of wheat) (acres) (workers) ($ per acre) ($ per workers) ($) ($ per acre) ($ per workers) ($)
0 10 0 5.5 5 551 10 6 5.5 5 852 10 11 5.5 5 1103 10 15 5.5 5 1304 10 21 5.5 5 1605 10 31 5.5 5 2106 10 45 5..5 5 2807 10 63 5.5 5 3708 10 85 5.5 5 480
(1)(1) (2) (2) (3) (3) (4) (4) (5) (5) (6) (6) Output Land inputs Labour inputs Land rent Labour wageOutput Land inputs Labour inputs Land rent Labour wage Total cost Total cost (tons of wheat) (acres) (workers)(tons of wheat) (acres) (workers) ($ per acre) ($ per workers) ($) ($ per acre) ($ per workers) ($)
0 10 0 5.5 5 551 10 6 5.5 5 852 10 11 5.5 5 1103 10 15 5.5 5 1304 10 21 5.5 5 1605 10 31 5.5 5 2106 10 45 5..5 5 2807 10 63 5.5 5 3708 10 85 5.5 5 480
ANALISIS BIAYA JANGKA PENDEK
Q
TCAC
TVCTFCTC
Q
TCMC
Q
TVCAVC
Q
TFCAFC
AVCAFCAC
K O N S E P B I A Y AK O N S E P B I A Y A (1) (2) (3) (4) (5) (6) (7) (1) (2) (3) (4) (5) (6) (7) (8) (8) Q Q FC VC TC=FC+VC MC AC=TC/q AFC=FC/q FC VC TC=FC+VC MC AC=TC/q AFC=FC/q AVC=VC/qAVC=VC/q unit ($) ($) ($) ($) ($) ($) unit ($) ($) ($) ($) ($) ($) ($) ($)
0 55 0 55 0 55 0 55 Infinity Infinity Infinity Infinity Undefined Undefined
3030
1 55 30 85 85 55 1 55 30 85 85 55 30 30 2525
2 55 55 110 55 27,5 2 55 55 110 55 27,5 27,5 27,5 2020
3 55 75 130 43,33 18,33 3 55 75 130 43,33 18,33 25 25 3030
4* 55 105 160 4* 55 105 160 4040 40* 13,75 40* 13,75 26,25 26,25 5050
5 55 155 210 42 11 5 55 155 210 42 11 __ __ ____
6 55 225 280 46,67 9,16 6 55 225 280 46,67 9,16 37,537,5 9090
7 55 __ 370 52,86 7,8 7 55 __ 370 52,86 7,8 45 45 110110
8 55 __ 480 60 6,88 8 55 __ 480 60 6,88 53,1353,13
KURVA BIAYA JANGKA PENDEKKURVA BIAYA JANGKA PENDEK TC
TVC
J
G
G’H’
0P
AFC
H”G”
J”
AFC
AC
AVC
MC
Q
Q
Cost ($)
0
Totalvariablecoast
Totalfixedcoast
Totalfixedcoast
Kurva Kurva rata-rata-rata rata
biaya biaya jangka jangka pendepende
kkdan dan
jangka jangka panjanpanjan
SAC1
SAC2
SAC3A
C”
P1
BE
0
0Output
SAC
SAC, LAC
A
BC D E
FG
LAC
SAC1
SAC2
SAC3 SAC4
SAC5
SAC6
SAC7
Output
C*
Economies of scale Diseconomies of scale
P3
Q3Q1
DP2
Q2Q4
P4
5.7 Long Run Cost Analysis5.7 Long Run Cost Analysis
Faktor–faktor Yang Mempengaruhi Faktor–faktor Yang Mempengaruhi Economies of Scale Economies of Scale
Fixed cost didistribusikan kepada lebih banyak Fixed cost didistribusikan kepada lebih banyak produk/pelanggan.produk/pelanggan.
Spesialisasi faktor produksi.Spesialisasi faktor produksi. Efisiensi penggunaan bahan baku.Efisiensi penggunaan bahan baku. Harga bahan baku menjadi lebih murah.Harga bahan baku menjadi lebih murah. Menghasilkan produk sampingan.Menghasilkan produk sampingan. Menciptakan lapangan usaha bagi masyarakat Menciptakan lapangan usaha bagi masyarakat
sekitar yang bermanfaat bagi perusahaan.sekitar yang bermanfaat bagi perusahaan.
6. MARKET STRUCTURE:PERFECTLY COMPETITION
6.1. Types of Market Structures6.2. Perfectly Competition Market6.3. Revenue and profit6.4. Short Run Equlibirium Analysis6.5. Long Run Equlibirium Analysis6.6. Short Run and Long Run
Industry Supply Curve6.7. Perfectly Competition Market
Evaluation
6.1. Types of Market Structures
• Market strutures: Pasar dilihat dari banyak sedikitnya jumlah penjual serta produk yang diperdagangkan
1.PerfectCompetition
1. Monopoly
3. MonopolisticCompetition
2. Oligopoly
2. ImperfectCompetition
6.2.The Nature Perfectly Competition Market
1. Terdapat banyak firma di pasar
2. Firma adalah pengambil harga
3. Firma mudah masuk keluar pasar
4. Menghasilkan barang homogen
5. Pembeli mempunyai informasi pasar yang sempurna
Perilaku Perusahaan Yang Bersaing
0 0
P PSD
dE
Industri Firma
Q q
P1
Q1
Total Revenue: Total Revenue: TR = P x QTR = P x QAverage Revenue: Average Revenue: AR = TR/QAR = TR/QMarginal Revenue: Marginal Revenue: MR = dTR/dQMR = dTR/dQLaba per unit:Laba per unit: ππ = P – AC = P – ACLaba Total:Laba Total: TTππ = TR – TC = TR – TCLaba maksimum tercapai pada Laba maksimum tercapai pada
saat:saat:MR = MCMR = MC
P: Price of outputP: Price of outputQ: Quantity of outputQ: Quantity of output
6.3 Revenue and Profit6.3 Revenue and Profit
Demand and RevenueDemand and Revenue
P P TR1
TR2
Q
A1
A2
Q
d1 = AR1 = MR1
d0 = AR0= MR0
0 0
P1
P2
KEPUTUSAN PENAWARAN KEPUTUSAN PENAWARAN PERUSAHAAN YANG KOMPETITIFPERUSAHAAN YANG KOMPETITIF
(1) (2) (3) (4) (5) (6) (1) (2) (3) (4) (5) (6)
(7) (7)
q TC MC AC P TR q TC MC AC P TR ππ
($) ($) ($) ($) ($) ($) ($) ($) ($) ($) ($) ($)
0 55.0000 55.000
1.000 85.000 27 85 40 40.000 1.000 85.000 27 85 40 40.000
-45.000 -45.000
2.000 110.000 22 55 40 80.000 2.000 110.000 22 55 40 80.000
-30.000 -30.000
3.000 130.000 21 43,33 40 120.000 3.000 130.000 21 43,33 40 120.000
-10.000-10.000
3.999 159.960 38,98 40,0003.999 159.960 38,98 40,000+ + 40 159.960 40 159.960
-0,01 -0,01
39,9939,99
4.000 160.000 40 40 40 160.000 4.000 160.000 40 40 40 160.000
0 0
40,0140,01
4.001 160,040 40,02 40,0004.001 160,040 40,02 40,000++ 40 160.040 40 160.040
-0,01 -0,01
5.000 210.000 60 42 40 200.000 5.000 210.000 60 42 40 200.000
-10.000 -10.000
TOTAL PROFITS
TOTAL COST
6.4 Short Run 6.4 Short Run EquilibiiumEquilibiium (Maksimalisasi laba)(Maksimalisasi laba)
Q
AVC
0 0Q
TR, TC P
P1
TC TR
Q3Q2Q1 Q2
TR1
TC1
A
B
C
DP2
MCAC
P=AR=MR
b
d
1.Membandingkan TR dengan TC 2.Menunjukkan bahwa MR = MC
EMPAT EMPAT KEMUNGKINAN KEMUNGKINAN
LABA PERUSAHAANLABA PERUSAHAANPada saat MR = MC :Pada saat MR = MC :
Laba Berlebihan (Excessive Laba Berlebihan (Excessive Profits): Profits): P P > AC> AC
Laba Normal (Normal Profits): Laba Normal (Normal Profits): P = AC P = AC
Rugi tetapi masih bisa meneruskan Rugi tetapi masih bisa meneruskan usaha: usaha: AVC AVC < P < AC< P < AC
Rugi dan harus menutup usaha: Rugi dan harus menutup usaha: P P < AVC < AC< AVC < AC
TOTAL PROFITS
EXCESSIVE PROFITS (Ketika MC=MR → P>AC)
0
P
P1
P2
Q1 Q
MC
D=P=AR=MR
AC
A
B
TOTAL REVENUE= TOTAL COST
NORMAL PROFITS (Ketika MC=MR → P=AC)
0
P
P1
Q1 Q
MC
D=P=AR=MR
AC
A
RUGI TOTAL
RUGI TETAPI MENERUSKAN USAHA (Ketika MC=MR → AVC<P<AC)
0
P
P1
P2
Q1 Q
MC
D=P=AR=MR
AVC
A
B
AC
P3F
RUGI TOTAL
RUGI DAN HARUS MENUTUP USAHA (Ketika MC=MR → P<AVC<AC)
0
P
P1
P2
Q1 Q
MC
D=P=AR=MR
AVC
A
B
AC
P3F
6.5 Long Run Equilibirium Analysis
0 0
P pS1
D1
d1
E1
Industri Firma
Q q
P1
Q1
D2
E2
P2
S2
E3
d2
MC AC
Q2 Q3 q1 q2
6.6 Short Run and Long Run Industry Supply Curve
0
P
P1
P2
Q1 Q
MC=SUPPLY
d1=P1=AR1=MR1
AVC
E1
E2
AC
P3E3
d2=P2=AR2=MR2
d3 =P3=AR3=MR3
d4=P4=AR4=MR4E4P4
Q4Q2 Q3
AKUMULASI KURVA PENAWARAN FIRMA = KURVA PENAWARAN INDUSTRI
P1
P2
P3
P4
0 35 65 100 65 800 0 20 45 70 100
20 80 200200 280
P1
P2
P3
P4
0
SA SB SC
SA + SB + SC = SINDUSTRI
LONG-RUN SUPPLY CURVE IN A CONSTANT COST INDUSTRY
MC AC
0 q1 q 0 Q1 Q2 Q3 Q
P1P1
P PD1 D2 D3
Sd
FIRM INDUSTRY
LONG-RUN SUPPLY CURVE IN A INCREASING COST INDUSTRY
MC1
MC2
MC3
AC1
AC3
AC2
q1 q2 q3 Q3Q2Q1
P1
P2
P3
P2
P1
P3
P1
P3
D1
D2
D3
SPP
0 0 Q
FIRM INDUSTRY
D1
D2
E3
LONG-RUN SUPPLY CURVE IN A DECREASING COST INDUSTRY
MC1
MC2
MC3
AC1
AC3
AC2
q1 q2 q3 Q3Q2Q1
P1
P2 P2
P1
P3 P3
D1D2
D3
S
PP
0 0Q
FIRM INDUSTRY
E1
E2
E3
6.7. Perfectly Competition Market Evaluation
Manfaat:1.Memaksimumkan efisiensi2.Kebebasan bertindak dan memilihMasalah (Kegagalan Pasar):1. Persaingan tidak sempurna2. Eksternalitas-eksternalitas3. Informasi yang tidak lengkap4. Tidak mendorong inovasi5. Membatasi pilihan konsumen6. Kemungkinan biaya lebih tinggi7.Tidak selalu meratakan distribusi pendapatan
7. IMPERFECT COMPETITION MARKET
7.1 The Nature of Every Market
7.2 Sources Of Market Imperfections
7.3 Price, Quantity & Revenue
7.4 Maximum Profit of Imperfect Competition
7.5 Oligopoly & Measures Of Market Power
7.6 Oligopoly Equilibirium
7.7 Monopolistic Competition Market
7.8 Price Discrimination
7.9 Social Cost and Benefit Of Monopoly
7.10 Monopoly Regulation
7.1 The Nature of Every Market
IklanSangat besar
Monopoli waralaba (listrik,air); Microsoft Windows; obat2 paten
Produsen tunggal; produk tanpa subtitut yang mirip
Monopoli
SdaSdaMobil, software word-processing,…
Beberapa produsen; produk2 terdiferensiasi
SdaSda.Baja, zat kimiaBeberapa produsen; sedikit/tanpa perbedaan produk
Oligopoli
iklan dan kualitas; harga2 yang diatur
Ada walaupun terbatas
Perdagangan ritel (pizza,bir,…), komputer2 PC
Banyak produsen; banyak perbedaan produk (riil/rasa)
Persaingan monoplistis
Pertukaran pasar atau lelang
Tidak adaPasar finansial dan produk2 pertanian
Banyak produsen; produk identik
Pasar persaingan sempurna
Metode-metode pemasaran
Kontrol terhadap harga
ContohJumlah produsen dan tingkat diferensiasi produk
Struktur
7.2 Sources Of Market Imperfections
1. Costs and market imperfection
2. Barriers to entry:a. Legal restrictionsb. High cost of entryc. Advertising and
product differentiation
7.3 Price, Quantity & Revenue7.3 Price, Quantity & Revenue (1) (2) (3) (4) (1) (2) (3) (4) Q P TR MRQ P TR MR ($) ($) ($)($) ($) ($) 0 200 0 0 200 0 +180+180 1 180 180 1 180 180 +140+140 2 160 3202 160 320 +100+100 3 140 4203 140 420 +60+60 4 120 480 4 120 480 +40+40 +20+20 5 100 5005 100 500 ------ 6 80 480 6 80 480 --6060 7 60 ----7 60 ---- --100100 8 40 3208 40 320 --140140 9 --- 1809 --- 180 --180180 10 0 0 10 0 0
Total Revenue Curve
PASAR PERSAINGAN TIDAK SEMPURNA
PASAR PERSAINGAN SEMPURNA
TR
TR
O Q2 3 4 5
500480420
320
TR
TR
QO1
180
AR and MR Curve
PASAR PERSAINGAN TIDAK SEMPURNA
PASAR PERSAINGAN SEMPURNA
D=P=ARMR
Q(UNIT)O
P ($)
10
100 200
P ($)
Q(UNIT)O
D=P=AR=MR
(1)(1)QQ
(Unit)(Unit)
(2)(2)PP
($)($)
(3)(3)TRTR ($)($)
(4)(4)TCTC($)($)
(5)(5)TPTP($)($)
(6)(6)MRMR ($)($)
(7)(7)MC MC ($)($)
(8)(8)MR-MR-MCMC
00 200200 00 145145 -145-145 +180+180 3030 MRMR>M>MCC
11 180180 180180 175175 +5+5 +140+140 2525
22 160160 320320 200200 +120+120 +100+100 2020
33 140140 420420 220220 +200+200 +60+60 3030
4*4* 120120 480480 250250 +230+230 +40+40 4040 MR=MMR=MCC
55 100100 500500 300300 +200+200 +20+20 5050
66 8080 480480 370370 +110+110 -20-20 7070
77 6060 420420 460460 -40-40 -60-60 9090
88 4040 320320 570570 -250-250 -100-100 110110 MRMR<M<MCC
7.4 Maximum Profit of Imperfect 7.4 Maximum Profit of Imperfect CompetitionCompetition
BIAYA, PENDAPATAN DAN LABA TOTAL
O Q
TR
TCTC,TR
Tπ
4 5
500
480
250
TOTAL PROFITS
TOTAL COST
MAKSIMISASI LABA
AC
MC
d=ARMR
p($)
O Q4 5 10
120
62,,5
7.5 Oligopoly & Measures Of Market Power
Monopoly power:Lerner Index: L = (P - MC) PMakin besar L makin besar daya monopoli
Dipengruhi oleh:
a. Elastisitas harga
b. Jumlah firma dlm indutri
(Concentration Ratio)
c. Interaksi antar perusahaan
PENJUALAN SEPEDA MOTOR DI JAWA BARAT
MEREK TH.2003
(unit)
TH.2003
(persen)
TH.2004
(unit)
TH.2004
(persen)
TH.2005
(unit)*
TH.2005 (persen)*
HONDA 276.133 56,8 317.623
48.2 342.287 52,4
SUZUKI 82.463 17,0 141.766 21,5 141.358 21,6
YAMAHA 68.530 14,1 124.544 18,9 131.323 20,1
KWSAKI 9.484 2,0 14.426
2,2 7.745 1,2
VESPA 520 0,1 381 0,1 122 0,0
KYMCO 2.135
0,4 3.756 0,6 1.174 0,2
LAIN2 47.027 9,7 56.446 8,8 30.307 4,6
JUMLAH 446.292 100,0 658.942 100,0 654.586 100,0* Januari – September 2005 Sumber: Nomor registrasi Samsat di wil Jabar
Harian PR, 18 November 2005
7.6 Oligopoly Equilibirium
1. Collusive oligopoly
(Hampir sama dengan monopoli)
2. Non Collusive oligopoly
(Kinked demand curve dan Game Theory)
7.7 Monopolistic Competition Market
Jangka Pendek Jangka Panjang
MC
AC
d
MR
P
QO
AB
C G
E
MC
AC
d
MR
P
QO
A’G’
E’
Q’
Syaratnya:a.Perusahaan memiliki daya monopolib.Pasar dapat dibagi menjadi beberapa
yang elasitas permintannya berbedac.Tidak memungkinkan terjadinya penjualan
lagi oleh konsumen yang menerima harga rendah kpd konsumen yang membeli dgn harga tinggi
d.MR di setiap pasar harus sama agar menghaslkan laba maksimum
7.8 Price Discrimination
7.9 Social Cost and Benefit Of Monopoly
SOCIAL COST OF MONOPOLY
1. Hilang atau berkurangnya kesejahteraan konsumen
2. Memburuknya kondisi makroekonomi nasional
3. Memburuknya kondisi perekonomian internasional
BENEFIT OF MONOPOLY
1. Excessive profits, inovation, Efficiency, economic Growth.
2. Pengadaan Public goods.3. Diskriminasi harga dapat
meningkatkan kesejahteraan masyarakat
1. Pengaturan harga
2. Pengenaan pajak
7.10 Monopoly Regulation