Monopolistic Competition · 垄断竞争
| English | 中文 | Pinyin · 拼音 |
|---|---|---|
| monopolistic competition/məˈnɒpəlɪstɪk ˌkɒmpəˈtɪʃn/ | 垄断竞争 | lǒng duàn jìng zhēng |
| differentiated product/ˌdɪfəˈrenʃɪeɪtɪd ˈprɒdʌkt/ | 差异化产品 | chā yì huà chǎn pǐn |
| short run/ʃɔːt rʌn/ | 短期 | duǎn qī |
| normal profit/ˈnɔːml ˈprɒfɪt/ | 正常利润 | zhèng cháng lì rùn |
| free entry and exit/friː ˈentri ænd ˈeɡzɪt/ | 自由进出 | zì yóu jìn chū |
| long-run equilibrium/lɒŋ rʌn ˌiːkwɪˈlɪbrɪəm/ | 长期均衡 | cháng qī jūn héng |
| tangent/ˈtændʒənt/ | 相切 | xiāng qiè |
| average total cost/ˈævrɪdʒ ˈtəʊtl kɒst/ | 平均总成本 | píng jūn zǒng chéng běn |
| excess capacity/ekˈses kəˈpæsɪti/ | 过剩产能 | guò shèng chǎn néng |
| non-price competition/nɒn praɪs ˌkɒmpəˈtɪʃn/ | 非价格竞争 | fēi jià gé jìng zhēng |
| product differentiation/ˈprɒdʌkt ˌdɪfəˌrenʃɪˈeɪʃn/ | 产品差异化 | chǎn pǐn chā yì huà |
A street of bubble-tea shops
- A dozen tea shops on one street, each with its own flavours and vibe.
- Lots of competition — yet no two are quite the same.
- That mix of many rivals plus a little uniqueness has its own model.
- It is monopolistic competition 垄断竞争.
一条奶茶店街
- 一条街上十几家奶茶店,各有各的口味和调性。
- 竞争很激烈——可没有哪两家完全一样。
- 这种"许多对手 + 一点独特"的组合,有它自己的模型。
- 这就是垄断竞争(monopolistic competition)。
Many firms, differentiated products
- Many firms compete, but each sells a slightly differentiated product 差异化产品 (restaurants, salons, clothing brands).
- That small difference gives each firm a little market power — and a downward-sloping demand curve.
- In the short run 短期, it maximises profit like a monopoly ($MR = MC$, price up on demand), earning profit or loss.
许多企业,差异化产品
- 许多企业竞争,但每家卖的是略有不同的差异化产品(differentiated product)(餐厅、发廊、服装品牌)。
- 这点小差别给每家一点市场势力——以及一条向下倾斜的需求曲线。
- 在短期(short run),它像垄断者一样最大化利润($MR = MC$,沿需求抬价),可盈利或亏损。
Monopolistic competition has: · 垄断竞争的特点是:
Many firms compete, but each product is a little different — giving slight market power. · 许多企业竞争,但每种产品都略有不同——带来一点市场势力。
Long run: only normal profit
- There is free entry and exit 自由进出. Profit attracts new firms that steal customers, shifting each firm's demand left.
- Entry stops only when economic profit is zero.
- At this long-run equilibrium 长期均衡 the demand curve is just tangent 相切 to the average total cost 平均总成本 curve — normal profit 正常利润.
长期:只有正常利润
- 存在自由进出(free entry and exit)。利润吸引新企业抢走顾客,把每家的需求左移。
- 只有当经济利润为零时,进入才停止。
- 在这个长期均衡(long-run equilibrium)处,需求曲线恰好与平均总成本(average total cost)曲线相切(tangent)——即正常利润(normal profit)。
Cost curves and the firm · 成本曲线与企业
In the long run, free entry shifts each firm's demand until it just touches average total cost — the firm earns only normal profit, with excess capacity. · 长期里,自由进入使每家企业的需求移动到恰好触及平均总成本——企业只赚正常利润,并有过剩产能。
In long-run equilibrium, a monopolistically competitive firm earns: · 在长期均衡中,垄断竞争企业赚得:
Free entry competes profit away until demand is tangent to ATC — normal profit. · 自由进入把利润竞争掉,直到需求与 ATC 相切——正常利润。
Match each term to its meaning. · 把每个术语与它的含义配对。
Differentiation gives market power; the long run brings excess capacity and normal profit. · 差异化带来市场势力;长期带来过剩产能和正常利润。
Two inefficiencies remain
- Price still exceeds marginal cost ($P > MC$) — allocatively inefficient.
- The firm does not produce at the lowest ATC, leaving excess capacity 过剩产能.
- To compete without cutting price, firms use non-price competition 非价格竞争: product differentiation 产品差异化, branding, and advertising.
仍有两个无效率
- 价格仍高于边际成本($P > MC$)——配置无效率。
- 企业不在最低 ATC 处生产,留下过剩产能(excess capacity)。
- 为了不降价也能竞争,企业采用非价格竞争(non-price competition):产品差异化(product differentiation)、品牌与广告。
In long-run equilibrium, a monopolistically competitive firm produces at the lowest point of its ATC curve. · 在长期均衡中,垄断竞争企业在其 ATC 曲线的最低点生产。
It produces to the left of minimum ATC, leaving excess capacity. · 它在最低 ATC 的左侧生产,留下过剩产能。
Monopolistic competition is allocatively inefficient because price is greater than ______ cost. · 垄断竞争配置无效率,因为价格大于______成本。
P > MC means the last unit is worth more than it costs, yet is not made. · P > MC 表示最后一个单位的价值高于成本,却没有生产。
Select all · 所有 examples of non-price competition. · 选出所有非价格竞争的例子。
Branding, design and service compete without price; cutting price is price competition. · 品牌、设计和服务不靠价格竞争;砍价属于价格竞争。
Monopolistic competition = many firms with differentiated products and a little market power. Short run: profit or loss like a monopoly. Long run: free entry drives economic profit to zero (demand tangent to ATC — normal profit), but with $P > MC$ and excess capacity.
垄断竞争 = 许多拥有差异化产品、带一点市场势力的企业。短期:像垄断者一样盈利或亏损。长期:自由进入把经济利润推到零(需求与 ATC 相切——正常利润),但 $P > MC$、有过剩产能。