managing in competitive, monopolistic and monopolistically competitive market
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Managing in Competitive, Monopolistic and
Monopolistically Competitive Market
Nugraha SetyawidaputraPutri Amandhari
6th May 2014PRA MBA C 64
HEADLINE: Starbucks Enters Tea-Loving India
Persaingan Sempurna
Managing in Competitive, Monopolistic and Monopolistically Competitive Market
PERSAINGAN SEMPURNABanyak pembeli dan penjualBarang yang dijual serupaPembeli dan penjual memiliki Informasi
yang lengkap Tidak ada biaya transaksiBebas keluar masuk
8-4
Unrealistic? Why Learn?Many small businesses are “price-takers,” and
decision rules for such firms are similar to those of perfectly competitive firms.
It is a useful benchmark.Explains why governments oppose monopolies.Illuminates the “danger” to managers of
competitive environments. Importance of product differentiation.Sustainable advantage.
8-5
Kurva Permintaan
FirmQf
$
Df
MarketQM
$
D
S
Pe
Profit-MaximizingMR = MC.karena, MR = P, P = MC untuk memaksimalkan profit
8-7
$
Qf
ATCMC
Pe = Df = MR
Qf*
ATC
Pe
Max Profit P = MC
profit
loss
$
Q
ATC
AVC
Q*
Pe
Short run-operating lossMC
ATC(Q*
)
Shut down decision
$
Q
ATC
AVCMC
Pe = Df = MR
Q*
ATC
Pe
Loss if shut down
AVC
Loss if produce
Shutdown Decision Rule
Decision rule:Sebuah perusahaan pada pasar persaingan
sempurna harus menutup usahanya saat P < min AVC.
Sebuah perusahaan pada pasar persaingan sempurna dapat melanjutkan usahanya P ≥ min AVC.
8-11
$
Qf
AVC
MC
Q0
P0
Short-Run Supply Curve: MC Diatas Min AVC
P1
Q1
Market Supply Curve
Individual firm
10
1 Q
P
12
500
8-13
Market
Effect of Entry and Exit
FirmQf
$
D
MarketQM
$
D
S
Pe
S1
P1 D1
Entry
Exit
S2
D2P2
MONOPOLISTIC
COMPETITION
Managing in Competitive, Monopolistic and Monopolistically Competitive Market
Banyak penjual dan pembeliSetiap perusahaan memproduksi barang yang berbeda
Bebas keluar masuk pasar
CONDITION FOR MONOPOLISTIC COMPETITION
PROFIT MAXIMIZATION• Kurva permintaan pasar persaingan monopolistik lebih
elastis dari pasar monopoli
• Kondisi ini, dengan asumsi free entry dan free exit akan mendorong masuknya kompetitor baru
Perusahaan akan memaksimumkan profit saat
MR (Q*) = MC (Q*)Charge the price on the demand curve that corresponds to that quantity.
Profit Maximization under Monopolistic Competition
$ATC
MC
D
MRQM
PM
Profit
ATC
Quantity of Brand X
8-17
• Konsekuensi kompetitor baru adalah turunnya permintaan terhadap perusahaan incumbent
• • Jika hal ini terus berlangsung, profit perusahaan incumbent akan tergerus sampai profit ekonominya=0
Pilihan bagi perusahaan incumbent: • efisiensi biaya atau meningkatkan permintaan dengan
melakukan inovasi, keluar atau masuk industrimemperbesar atau mengurangi skala perusahaannya
$
ATC
MC
D
MRQ*
P*
Quantity of Brand XMR1
D1
Entry
Due to entry of new firms selling other brands
Effect of Entry on a Monopolistically Competitive Firm’s Demand
8-18
LONG-RUN EQUILIBRIUM
P > MCP = ATC > minimum of average cost
Long-Run Equilibrium •Long-run equilibrium terjadi pada sebuah pasar kompetitif saat: •Economic profit adalah nol, jadi perusahan tidak keluar dan juga tidak masuk industri. •Long-run average cost berada pada nilai minimum, jadi perusahaan tidak lagi mengubah ukuran perusahaan.
$ACMC
D
MR
Q*
P*
Quantity of Brand X
Long Run Monopolistically Competitive Equilibrium
Long-Run Monopolistic Competition8-19
Summary of Logic
• Short run profits leads to entry.• Entry increases market supply, drives down
the market price, increases the market quantity.
• Demand for individual firm’s product shifts down.
• Firm reduces output to maximize profit.• Long run profits are zero.
Comparative Advertising
Brand Equity
Niche MarketingBrand Myopic Manager
IMPL
ICAT
ION
IMPL
ICAT
ION
OF PR
ODUCT
DIF
FERE
NTIA
TION
OF PR
ODUCT
DIF
FERE
NTIA
TION
OPTIMAL ADVERTISING DECISION
Incremental Cost of Advertising Incremental Revenue
Formula
•A = firm expenditures on advertising•R = PQ denotes the dollar value of the firm sales•EQP = own price elasticity of demand for firm product (extreme case dia –infinite)
•EQA advertising elasticity of demand for the firm product
ANSWERING THE HEADLINE
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