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

QQ

Ep =

Ep =

Ep =Q

P

P

Q

Ep = 2/)(2/)( 2121 PP

P

QQ

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

QQ

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