Under perfect competition, a firm cannot influence the price of the product it sells. Its only opportunity to adapt to market changes is to change the volume of production. In the short run, the number of individual factors of production remains unchanged. Therefore, the stability of the firm in the market, its competitiveness will be determined by how it uses variable resources.

There are two universal rules that apply to any market structure.

First rule states that it makes sense for a firm to continue functioning if, at the achieved level of production, its income exceeds variable costs. The firm should stop production if the total income from the sale of goods produced by it does not exceed variable costs (or at least not equal to them).

Second rule determines that if the firm decides to continue production, then it must produce such a quantity of output at which marginal revenue equals marginal cost.

Based on these rules, we can conclude that the firm will introduce such a number of variables that, at any volume of production, equalize its marginal cost with the price of the goods. In this case, the price must exceed the average variable costs. If the price on the market of the goods produced by the firm and the cost of production remain unchanged, then it makes no sense for a profit-maximizing firm to either reduce or increase production. In this case, the firm is considered to have reached its equilibrium point in the short run.

Firm equilibrium in the long run. The equilibrium conditions for a firm in the long run are:

1) the marginal cost of the firm must be equal to the market price of the goods;

2) the firm should receive zero economic profit;

3) the firm is not able to increase profits by unlimited expansion of production.

These three conditions are equivalent to the following: 1) firms in the industry produce output in volumes corresponding to the minimum points of their average total cost curves in the short run;

2) for all firms in the industry, their marginal cost of production is equal to the price of the good;

3) firms in the industry produce output in volumes corresponding to the minimum points of their average cost curves in the long run.

In the long run, the level of profitability is the regulator of the resources used in the industry.

When all firms in an industry operate at minimum cost in the long run, the industry is said to be in equilibrium. This means that at a given level of technological development and constant prices for economic resources, each firm in the industry completely exhausts internal reserves optimization of production and minimizes its costs. If neither the level of technology nor the prices of factors of production change, then any attempt by the firm to increase (or decrease) output will result in losses.

QUESTION #15

Decreasing The rebound states that as the use of a factor of production increases (with the other factors fixed), eventually a point is reached at which the additional use of that factor leads to a decrease in output.

Starting from a certain moment, the successive addition of units of a variable resource (for example, labor) to an unchanged, fixed resource (for example, capital or land) gives a decreasing additional, or marginal, product per each subsequent unit of the variable resource.

The law of economies of scale manifests itself in the fact that with an increase in the program for the production of products or the performance of any work (up to the optimal value), conditionally fixed (or indirect) costs, which include general factory and general workshop costs, decrease per unit of production, reducing its cost accordingly. . At the same time, the quality of the products is improved.

Studies show that the output program can be increased by increasing the market share by increasing the competitiveness of products, performing a set of works on the unification and aggregation of homogeneous products. Due to economies of scale, the cost of the same type of product can be reduced by up to two times, and the quality of its manufacture can be increased by up to 40%.

Optimal ratio of factors of production.

It is important to understand which combination of factors maximizes profit in the long run when all resources are variable.

The rule of least cost. To minimize the total cost of a given output, the firm must use a combination of resources such that the last dollar spent on acquiring each resource accounts for the same amount of output. This means that when using different resources (Xa, Xb, Xc ... Xn), their combination should be such that

However, this equality is correct for perfect competition. In conditions imperfect competition the firm should have in mind the marginal cost of the resource (MRC), not the supply price (Px).

To obtain maximum profit Given the planned output, firms must produce at minimum cost. Firms spend money on factors of production, and the minimum cost corresponds to the optimal cost combination of these factors. Let's see how firms manage to find the optimum. Consideration will begin with the case when the variables are two factors, let it be labor and capital. To explain the approach to solving the problem, we use graphical tools. We will need two types of lines - iso-quanta and iso-costs. Isoquants. The word "isoquant" comes from the English quantity (amount) with the prefix iso (equal) and means an equal amount. In our case, these are lines built in labor-capital coordinates that combine combinations of factors of production that ensure the production of the same volume of the final product, say product X. Both factors of production are measured by their cost. Let us assume that any amount of labor can be replaced by capital and, conversely, any amount of capital can be replaced by labor. This means that a given amount of a product can be produced with a wide variety of combinations of labor and capital. On fig. 2.4 the lower curve combines combinations of factors under which the output Q1 can be obtained. The vertical axis shows the amount of capital in units of cash costs for it, the horizontal axis shows the amount of labor, also in monetary units. Points A and B show two possible combinations of labor and capital with the volume Q1. The Q2 line displays combinations of these factors for a larger output, and the Q3 line corresponds to more more manufactured products. All curves shown in the figure are isoquants.

An isoquant is a line that combines various combinations of two factors of production, making it possible to produce a given volume of output at efficient use both factors. Isoquants have three important properties: they cannot intersect, they always have a negative slope, and their convex side is facing the origin. These properties are explained very simply. Imagine that two isoquants intersect, as shown in Fig. 2.5. Then the point of their intersection would be a combination of labor and capital, at which, with efficient use of available resources, it would be possible to produce different volumes of goods or services. Obviously, this is contrary to common sense. The nature of the negative slope of isoquants is also clear. Since these lines reflect the ratios between the factors of production, provided that both factors are used efficiently, a decrease in one of them must be compensated by an increase in the second. The location of isoquants with a convex side towards the origin is due to the fact that labor and capital cannot ideally replace each other. As long as production is little automated and a lot of labor is used, it is much easier to replace people with machines than when most of the processes have already been transferred to machines. For example, replacing 10 loaders with one forklift with one operator is easy and relatively inexpensive. But to replace a forklift with an operator with a fully automatic loader, that is, to replace the only remaining worker with an automatic one, is a much more difficult task. Consider the example of the relationship between labor and capital, shown in Fig. 2.6, and make sure that the shape of the depicted line corresponds to our logic. It follows from the figure that, with the initial volume of capital OS, its growth by the value of BC makes it possible to replace EF units of labor, and with a larger initial value of capital (0B), the same increase (AB) makes it possible to replace a noticeably smaller amount of labor (DE). Note that the slope of the isoquant indicates the ratio in which capital can be replaced by labor (or vice versa) while maintaining output.

QUESTION #16

MARKET MODELS.

Market relations exert a constant influence on the development of production through supply and demand. However, this influence is not limited to the role of price and pricing. Market models have a huge impact on the production, distribution, and exchange of material goods in society.

There are four market models:

1. Pure competition- characterized by a large number of independent firms producing a standardized product. Under pure competition, firms and resources in their movement can move from one industry to another, i.e. can move from the production of one product to the production of another product.

2. Pure monopoly A monopolist is one who is the only manufacturer of a product for which there are no close substitutes. Such a monopolist seeks to maximize total profit, not total profit per unit of output. Occupying a special position in the market, a pure monopolist has the ability to set higher prices.

3. Free competition- enables the commodity producer to resort to the most effective way of survival - the use of more advanced equipment, technology, organization and management of production activities. This side in the market competition is gaining general importance, since all producers of goods understand the role of labor productivity and strive to resort to this measure everywhere.

4. Monopoly- as a special condition of a supplier of goods or services, it is characterized by the fact that the seller has the ability to dictate his terms for the sale of goods. Monopolies, mastering the laws of supply and demand, establish two types of price monopolization: high and low. Prices of this kind are designed to make excess profits for the monopoly without making any improvements in the production of goods.

The market and competition are connected by inextricable threads. Without competition, there is no market. Competition- this is a characteristic feature of the relationship between sellers or between buyers.

Competition, as economists see it, means the following:

1. The presence in the market of a large number of independently acting buyers and sellers of any particular product or resource.

2. Freedom for buyers and sellers to enter or leave certain markets.

Perfect, free or pure competition- an economic model, an idealized state of the market, when individual buyers and sellers cannot influence the price, but form it with their contribution of supply and demand. In other words, this type market structure, where the market behavior of sellers and buyers is to adapt to the equilibrium state of market conditions.

Signs of perfect competition.

Firm equilibrium (Firm equilibrium) is such a state of the firm (with a certain level of price and volume of production), in which the maximum possible level of profit is achieved and a further increase in the scale of production no longer brings additional profit.

Firm equilibrium in the short run

In a particular industry, there are always different firms, different from each other and with different scales, with different technical bases, production organization and costs. To be able to assess the position of the firm in the market, it is necessary to compare its average costs.

In the case when the average cost is lower than the price (Fig. 1b), then the firm within a certain range of production volume (from (\mathrm Q)_1 to (\mathrm Q)_2 ) receives on average a higher profit than the normal profit. In other words, the firm receives excess profit, or quasi rent.

If the average cost of the firm is higher than the market price at any volume of production (Fig. 1c), then it will incur losses and go bankrupt if it does not leave the market or is not reorganized.

The dynamics of average costs shows the position of the company in the market, but does not determine the level of supply and the point of optimal production volume. Indeed, if the average costs of the firm are below the price (Fig. 1b), then on the basis of this we can only state that in the interval from (\mathrm Q)_1 to (\mathrm Q)_2 there is a zone of profitable production, and with the volume of production ( \mathrm Q)_3 , at which the average cost is minimal, the firm receives the maximum profit per unit of product. However, this does not mean that at the point (\mathrm Q)_3 the optimal output is reached and the firm is in equilibrium. As you know, the manufacturer is not interested in profit per unit of output, but in profit for the entire mass of goods sold. Therefore, the average cost curve does not show the level where the maximum is reached.

Should be considered marginal cost Firms are the incremental costs associated with producing an additional unit of a product in the cheapest possible way. Marginal cost is the difference between the cost of producing \mathrm n units and the cost of producing \mathrm n-1 units: \mathrm(MC)\;=\;(\mathrm(TC))_\mathrm n\;-\;(\mathrm(TC))_(\mathrm n-1). On fig. 2. shows the dynamics of marginal costs.

marginal cost does not depend on fixed costs, because the latter exist regardless of whether an additional unit of output is produced. Initially, marginal cost tends to decrease, remaining below average \mathrm(MC)\;<\;\mathrm{AC} . Это объясняется тем, что если издержки на единицу продукции снижаются, то каждый следующий производимый продукт стоит меньше средних издержек предшествующих продуктов, т.е. средние издержки производства выше предельных. Дальнейший рост средних издержек означает, что предельные издержки увеличиваются по отношению к предшествующим средним издержкам. Таким образом, линия предельных издержек на графике пересекает линию средних издержек в ее минимальном уровне \mathrm M .

The production of an additional unit of output, despite the additional costs, brings additional income to the company, or marginal revenue, which is the difference between the total revenue from the sale of \mathrm n and \mathrm n-1 units of production: \mathrm(MR)\;=\;(\mathrm(TR))_\mathrm n\;-\;(\mathrm(TR))_(\mathrm n-1). Under free competition, the producer is not able to influence the level of the market price, and, therefore, sells his products at the same price. This means that under free competition, the marginal revenue from the sale of an additional unit of output will be the same for any volume of production, i.e. marginal revenue will be equal to the price: \mathrm(MR)\;=\;\mathrm P.

Considering marginal revenue and marginal cost, we can determine the equilibrium point of the firm, where it stops increasing production, having reached maximum profit at a given price. The firm will increase output until each additional unit of output generates additional profit. In other words, as long as marginal cost is less than marginal revenue (\mathrm(MC)\;<\;\mathrm{MR}) , фирма может увеличивать объем производства. Если же предельные издержки станут выше предельного дохода (\mathrm{MC}\;>\;\mathrm(MR)) , then the firm will become unprofitable.

Rice. 3. Equilibrium of a firm in a perfectly competitive market

On fig. Figure 3 shows that with the growth of production, the marginal cost curve \mathrm(MC) goes up and crosses the marginal revenue line \mathrm(MR) , which corresponds to the market price (\mathrm P)_1 , at the point \mathrm M , where the optimal production volume is located (\mathrm Q)_1 . Any deviation from this point results in losses for the firm in the form of direct losses with a larger volume of production, or as a result of a decrease in profits with a reduction in output.

Thus, firm's equilibrium condition, both in the short run and in the long run is the equality of marginal cost and marginal revenue \mathrm(MC)\;=\;\mathrm(MR) . Every firm that wants to make a profit tends to produce at a level that satisfies this equilibrium condition. Under perfect competition, marginal revenue is always equal to price, so the equilibrium of the firm is reached at \mathrm(MC)\;=\;\mathrm P .

The ratio of marginal revenue and marginal cost is a certain signal system that informs the entrepreneur whether the optimal level of production has been reached or whether additional profit growth can be expected. However, it is not possible to accurately determine the amount of profit received by the firm only on the basis of an analysis of marginal costs, since. they do not include fixed costs.

The total profit earned by the firm can be defined as the difference between total revenue \mathrm(TR) and total costs \mathrm(TC) . The total income, in turn, is calculated as the product of the quantity of production by the price (\mathrm(TR)\;=\;\mathrm Q\;\cdot\;\mathrm P), and the total cost is the product of the quantity of production and the average cost (\mathrm(TC)\;=\;\mathrm Q\;\cdot\;\mathrm(AC)). Thus, by combining the analysis of marginal cost and marginal revenue with the analysis of the dynamics of average costs, it is possible to accurately determine the amount of profit received.

There are three possible market situations. When the marginal revenue line just touches the average cost curve (Figure 4a), total revenue equals total cost. The firm's profit will be normal, because the price of its products is equal to the average cost.

If at a certain interval the marginal revenue lines and prices are above the average cost curve (Fig. 4b), then at the equilibrium point \mathrm M the firm will have a quasi-rent, i.e. profit that exceeds the normal level. At the optimal level of production (\mathrm Q)_2, the average cost will be equal to (\mathrm C)_2 , so the total cost will be the area of ​​the rectangle (\mathrm(OC))_2(\mathrm(LQ))_2. Total income equal to the area of ​​the rectangle (\mathrm(OP))_2(\mathrm(MQ))_2, will be larger, and, therefore, the area of ​​the rectangle (\mathrm C)_2(\mathrm P)_2\mathrm(ML) will show the total amount of excess profits.

On fig. 4c shows a different situation: the average cost exceeds the market price for any volume of production. In this case, even with the optimal production volume (\mathrm(MC)\;=\;\mathrm P), the firm incurs losses, although less than with other production volumes (rectangle area (\mathrm P)_3(\mathrm C)_3\mathrm(LM) minimal precisely at the volume of production (\mathrm Q)_3 ).

Let's consider the last situation in more detail. No one is immune from possible losses in the market. Therefore, if for certain reasons the company does not make a profit, then it needs to minimize losses. If we consider the firm in the short term, when it remains in this market, then what is preferable for it - to continue its activities or temporarily suspend production? In which case will the losses be minimal?

It should be noted that when a firm produces nothing, it incurs only fixed costs. If it produces products, then variable costs are added to the fixed ones, but at the same time the company receives a certain income. Therefore, in order to understand when a firm is minimizing its losses, it is necessary to compare prices not only with average costs \mathrm(AC) , but also with average variable costs \mathrm(AVC) .

Rice. 5. Minimization of losses of the firm

Consider the situation described in Fig. 5. The market price (\mathrm P)_1 is below the minimum level of average costs, but above the minimum level of average variable costs. At the optimal level of production (\mathrm Q)_1, the average cost will be the segment (\mathrm Q)_1\mathrm M , and the average variable cost will be the segment (\mathrm Q)_1\mathrm L . Therefore, the segment \mathrm(ML) is the average fixed cost. If the firm continues to operate, then the total income (rectangle (\mathrm(OP))_1(\mathrm(EQ))_1) will be less than the total cost (rectangle (\mathrm(OC))_\mathrm T(\mathrm(LQ))_1), but variable costs will be covered (rectangle (\mathrm(OC))_\mathrm V(\mathrm(LQ))_1) and part of the fixed costs. The amount of loss will be the area of ​​the rectangle (\mathrm P)_1(\mathrm C)_1\mathrm(ME). If the firm stops production, then the losses will be the entire value of fixed costs (rectangle (\mathrm C)_\mathrm V(\mathrm C)_1\mathrm(ML)).

Therefore, as long as the price is above the minimum average variable cost, in the short run it is more profitable for the firm to continue production, because in this case, losses are reduced. If the price is equal to the minimum average variable cost, then it does not matter to her whether to continue to produce products or not. If the price falls below the minimum level of average variable costs, then production must be stopped.

When the price changes, the firm will also change the volume of production, moving along the curve \mathrm(MC) . Those. the ascending part of the marginal cost curve is in fact its short-run supply curve.

Combining the individual supply curves of firms in the same industry, we obtain the aggregate industry supply curve. As the price rises, the different firms that operate in the industry expand their output and their supply. The change in the market price for a certain product will be until the aggregate demand for the product of the industry is equal to the aggregate supply of the industry. This equality is achieved at the price level, which then maintains this level for a short period.

Firm equilibrium in the long run

The analysis of the position of an individual firm in the market of perfect competition, carried out above, described the situation in the short run. But what will change if we analyze the situation on the market in the long term? With an increase in the considered period of time for an individual firm, its fixed and variable costs cease to differ and become only variables, and the number of active firms in the market also changes.

First, consider what happens to the firm's costs in the long run. When planning a long-term increase or decrease in production, the firm is not able to limit itself to only reducing or increasing variable costs (number of workers hired, materials used, raw materials, etc.). In this case, the firm's production efficiency will decrease, because while maintaining production capacity (fixed costs), the optimal combination of production factors will change. To increase its profits, the firm always strives to reduce average costs, so in the long run it changes its size by changing the volume of production. Since this changes the amount of fixed costs, the firm "transitions" to another average cost curve \mathrm(AC) .

How is the new average cost curve, which corresponds to a larger firm, plotted relative to the old curve? It all depends on the action scale effect. On fig. 6 shows several types of short-run average cost curves for a firm, which correspond to different production volumes, as well as different effects of economies of scale. In the case of increasing returns to scale, a proportional increase in all costs leads to a decrease in average costs (going from (\mathrm(AC))_1 to (\mathrm(AC))_2 ). In the case of diminishing returns, when production volumes are large enough, a proportional increase in all costs leads to an increase in average costs (going from (\mathrm(AC))_3 to (\mathrm(AC))_4 ). The \mathrm(LAC) curve that goes around all existing short run average cost curves is the long run average cost curve. The descending segment of the \mathrm(LAC) curve corresponds to increasing returns to scale, and the ascending segment corresponds to decreasing returns. With each change in size, the firm "moves" to a different short-run \mathrm(AC) curve, but still moves along the long-run average cost curve \mathrm(LAC) .

Thus, by manipulating the value of all resources used in production, the firm seeks to optimize its size, and, accordingly, to minimize long-term average costs.

Now we need to consider how the equilibrium of the firm changes with a change in the number of firms in the industry. Let's go back to Figure 4. If the market price exceeds average costs (Figure 4b) and the firm makes excess profits, then in this case, new firms interested in obtaining excess profits will tend to enter the industry. Under perfect competition, there are no special barriers that prevent new firms from entering the industry. Then the supply will begin to grow and competition between firms will lead to lower prices and the disappearance of excess profits.

When the situation on the market is not entirely favorable for the firm and the price of the product turns out to be much lower than average costs (Fig. 4c), the firm that finds itself in a similar position leaves the industry, and supply decreases. The price begins to rise (with other factors unchanged) until the firm earns a normal profit.

If the price and average costs are the same (Fig. 4a), then there is no tendency for the number of firms operating in the industry to change. This competitive industry is in full long-run equilibrium, the conditions of which are as follows:

\mathrm(MC)\;=\;\mathrm P\;=\;\mathrm(AC)\;=\;\mathrm(LAC).

The equilibrium condition of the firm in the long run is shown in Fig. 7.

Thus, under conditions of perfect competition in the long run, economic efficiency is achieved both in terms of the use of limited resources in the production process and in terms of their rational distribution between different production processes.

First, the condition \mathrm P\;=\;\mathrm(AC) says that the firm reaches its equilibrium when the price of production and the minimum average cost are equal, when the most efficient technologies with the least expenditure of resources are present in production. In addition, the condition \mathrm(AC)\;=\;\mathrm(LAC) says that the firm has an optimal size when the average cost in the short run is equal to the average cost in the long run.

Secondly, the condition \mathrm P\;=\;\mathrm(MC) says that the price as a measure of the marginal utility of a product is equal to the marginal cost as a measure of the opportunity cost of an additional unit of the product. In other words, this condition says that limited resources are distributed in accordance with consumer preferences.

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The rule of least cost. Principles of profit maximization under conditions of perfect competition.

Least Cost Rule- the condition according to which costs are minimized when the monetary unit spent on each resource gives the same return - the same marginal product. In this case, the optimal combination of production factors is achieved.

The firm chooses the level of production at which it makes the greatest profit. If the production of an additional unit of output will lead to an increase in gross income, then the firm must increase production. Thus, the firm must be guided by the rule that it should increase production to a level where marginal revenue equals marginal cost. This rule is observed in conditions of perfect competition. A firm operating in a perfect market can control only one parameter - the volume of output. The price of goods and resources is formed by the market. Conclusion: The resource will find application as long as the marginal productivity is not lower than the price. This means that the price of resources measures the marginal productivity of these factors. Productivity will be maximum on its income. All factors in monetary terms are equal to their prices.

Modern economic theory states that profit maximization or cost minimization is achieved when marginal revenue equals marginal cost (MR=MC). Let's consider this condition in more detail. Let us plot the quantity of production on the abscissa axis, and the total income and costs on the ordinate axis. Total revenue is a straight line from the origin, and total cost is the sum of the fixed and variable cost curves.

By connecting both graphs, it is easy to understand the extent to which the activity of the enterprise that generates income varies. The maximum profit is made when the gap between TR and TC is the largest (segment AB). Points C, D are points of critical production volume. Then point C after point D, total costs exceed total income (TC>TR), such production is economically unprofitable and therefore inexpedient. It is in the interval of production from point K to point N that the entrepreneur makes a profit, maximizing it with an output equal to OM. Its task is to gain a foothold in the nearest neighborhood of point B. At this point, the slope coefficients of income (MR) and total costs (MC) are equal: MR=MC. Thus, the condition for profit maximization is the equality of marginal revenue to marginal cost.

In a short-run equilibrium, four types of firms can be distinguished. The firm that manages to cover only the average variable costs (AVC = P) is called the marginal firm. Such a firm manages to be “afloat” only for a short time (short term). In the event of a price increase, it will be able to cover not only current (average variable costs), but also all costs (average total costs), i.e. earn a normal profit (like a normal premarginal firm), where ATC=P.

In the event of a price reduction, it ceases to be competitive, because cannot even cover current costs and will be forced to leave the industry, being outside it. If the price is greater than the average total cost, then the firm earns excess profit along with normal profit.

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Introduction

Chapter 1. Theoretical foundations of the economic equilibrium of the firm

1.1 The concept, signs and conditions for achieving the equilibrium of the company

1.2 Types of economic equilibrium of the firm

1.3 Factors in the formation of the economic equilibrium of the company

Chapter 2. Economic equilibrium of the firm in modern conditions

2.1 Peculiarities of firm equilibrium

2.2 Equilibrium of Aquasystem LLC in the short run

2.3 Equilibrium of Aquasystem LLC in the long run

Conclusion

Bibliography

Vvfoodnie

An economic system cannot exist without constantly reproducing all the elements of production in certain proportions, as well as all economic relations. The subjects of these relations in macroeconomics are the aggregate economic agents. The interweaving of their economic ties, their interdependence presupposes mutual agreement, balance or economic balance.

Achievement of economic equilibrium in all markets, i.e. as an equilibrium of the economic system as a whole is a practically difficult task. Its solution is especially complicated in conditions of a predominantly intensive type. economic growth, which is characterized by significant quantitative and qualitative changes in all socio-economic relationships.

At the same time, achieving economic balance is so important for the effective development of the socio-economic system that this problem cannot be ignored by economic theory and practice. After all, achieving economic equilibrium would mean proportionality in production and consumption, supply and demand, production costs and results, material and cash flows. This would mean, ultimately, the realization of the economic interests of each of the economic entities in the macrosystem, with their mutual consistency.

The origin and constant development of the problem of economic equilibrium is inextricably linked with progress in the social division of labor, in the specialization and cooperation of production. If there are separate branches of the national economy, then there is the possibility of a mismatch in their functioning. In addition, links between industries are constantly changing under the influence of a wide variety of factors: technological progress, product mix, changes in demand, the presence of externalities, etc. Hence the need to maintain these links. Moreover, the phenomena of economic statics and dynamics in real life are closely intertwined: if we assume that at some point there is an equilibrium, then it is quickly and constantly disturbed and also quickly restored.

This topic term paper is very relevant, because the main object is the firm (enterprise). This is explained by the fact that in modern economy it is enterprises (firms) that produce the bulk of goods and services that satisfy human needs. A firm is an economic entity that engages in production activities and has economic independence (in making decisions about how and in what quantities to produce, where, to whom and at what price products should be sold). The firm pools resources to produce certain economic goods in order to maximize profits.

The motives of the company's activities, the decisions made, the supply of goods, the mechanism for allocating resources are closely related to the conditions of the external economic environment in which they operate. Economic theory distinguishes various types of market structures that affect the behavior of firms and the results of their activities. The classification of market structures is based on the concept called "structure - behavior - result".

Increasing the importance of financial relations at the level of micro-subjects leads to the allocation of the financial aspect of achieving the equilibrium of the company. The existing trends in the world economy to complicate the structure of payment turnover, individualization of consumed goods and the impulsive nature of labor are factors of additional impact on the transformation of financial relations at the micro level and, accordingly, on the financial balance of the company. It also complicates the task of achieving the economic equilibrium of the firm, creates an environment of uncertainty and determines the need for appropriate theoretical research. The problems of equilibrium analysis at the macro- and microlevels are presented in the works of V. Pareto, E. Barone, G. Kassel, J. Hicks, A. Wald, P. Samuelson, J. Debray, A. Marshall and other authors. Despite the attention on the part of researchers to the microeconomic problems of financial relations, including the issues of achieving the equilibrium of the firm, a number of aspects of this issue remain debatable and require further analysis.

The purpose of the course work is to study the study of the economic equilibrium of the firm.

In accordance with the purpose of the study, the following tasks were set in the work:

- consider the concept of economic equilibrium, identify signs, conditions, types of economic equilibrium;

- to analyze the factors of formation of the economic balance of the company;

- to study the features of the equilibrium of the company in modern conditions;

- consider the equilibrium of the firm in the short and long run.

economic equilibrium market

Glaina 1.Teoretic waspsnaboutins econaboutmicraextaboutinyesia firms

1.1 BynItee, prizenaki and conditionalinia dostilknia raextaboutinyesia firms

Economic equilibrium S.N. Ivashkovsky "Economics for managers"; Izd-vo Delo - 2010 means the optimal choice in the economy, which implies a balance in the use of limited production resources and their distribution among members of society, i.e. balance of production and consumption, resources and their use, supply and demand, factors of production and its results, material and financial flows. .

I.P. Nikolaeva writes: “in the very general view economic equilibrium acts as a correspondence between resources and needs, as a way of using limited resources to create market goods and services and redistribute them among members of society. Equilibrium reflects the choice that suits everyone in society.

Any economic system strives to achieve an equilibrium state and maintain it. Since its functioning is ensured through the activities of people endowed with will, consciousness and equal interest, balance is not achieved spontaneously and has specific signs and conditions.

We can distinguish the following signs of economic equilibrium:

- compliance of public goals with real economic opportunities;

- full use of all economic resources of society - land, labor, capital, organization, information;

- balance of supply and demand in all major markets at the micro level;

- free competition, equality of all buyers in the market, immutability of economic situations;

- constant movement, continuous development of the economy.

Allocate the following conditions for achieving economic equilibrium, presented in table 1.1.

Table 1.1

conditions for economic equilibrium.

The equilibrium of the economic system is a state in which the consistency of the basic proportions in the economy ensures the continuity of the reproduction process on a constant or increasing scale.

In other words, economic equilibrium is the optimal ratio in the entire system of socio-economic quantitative and qualitative relationships in the national economy. This optimum serves as a general indicator of the economically and socially effective functioning of the system at the country level. However, attempts to achieve an optimum are the desire to achieve an ideal state in the socio-economic development of the system, which is practically impossible.

Economic science Economic theory. Microeconomics-1,2: Textbook / Under the general editorship of the Honored Scientist of the Russian Federation, Prof. Zhuravleva. - 2nd ed., corrected. and additional - M.: Publishing and trading corporations "Dashkov and K", 2011 - 934 p. there are five main proportions in the economy, the coordination of which ensures the achievement of balance:

- factor proportion (industrial, labor, financial resources), linking the volume, structure and productivity of resources with the volume and structure of production of material goods and services;

- the proportion of accumulation, which determines the rate of accumulation, i.e. that share in the national income of the country, which must go to the expansion of production in order to obtain a certain volume of it;

- distribution proportion, which determines the ratio in the distribution of income from production activities among all owners of production factors;

- the proportion of exchange (realization), which determines the ratio between consumer demand and supply in terms of volume, structure and cost;

- commodity-money proportion, expressing the ratio between commodity and money supply.

In a market economy, the leading is the proportion of exchange. This is explained by the determining influence of demand on the development of the market economy. Achieving a balance between supply and demand is one of the main indicators of the effectiveness of the functioning of the country's economy in market conditions.

1.2 ATides econaboutmic raextaboutinyesia firms

In economic theory, there are several types of economic equilibrium Nikolaeva I.P. "Economic Theory" 2nd ed., revised. and additional - M.: Unity-Dana, 2011. - 527 p. (fig.1.1).

The ideal (theoretically desired) equilibrium would be the stable use of economic potential resources of society with the optimal realization of the interests of all participants economic activity. Identification of violations and deviations of the actual balance from their ideal model makes it possible to find ways and means to eliminate them. In addition to the ideal and actual (real) equilibrium, a partial one is distinguished, i.e. equilibrium in individual markets, and the general one, which is a single interconnected system of partial equilibria.

Types of economic equilibrium

Rice. 1.1 Types of economic equilibrium

Economics distinguishes between static and dynamic equilibrium. In static equilibrium, the factorial proportion remains unchanged, so the equilibrium in the economy is determined by the ratio of all other proportions. With a static approach, optimal balance is achieved with full use of production possibilities. An economic system capable of achieving such an equilibrium is recognized as statically efficient. Under dynamic equilibrium, the economic system develops under conditions of changing production resources. .

Dynamic equilibrium is a state of the economy in which the dynamics of production possibilities and the dynamics of the proportions of the economic system reach a ratio that ensures a constant rate of economic growth. An economy capable of sustaining sustainable economic growth is recognized as dynamically efficient. .

Three types of dynamic equilibrium can be distinguished: with increasing productivity of resources; with their constant performance; with declining resource productivity. The optimal dynamic equilibrium is the equilibrium with increasing productivity of production resources. Only in this case, in the long term, the maximum volume of production is achieved. .

At the first stages economic analysis market system, the theory of static equilibrium developed (classical political economy of A. Smith, D. Ricardo, etc.) Economic theory: Tutorial/ V.M. Sokolinsky, V.E. Korolkov and others; under. ed. A.G. Gryazina and V.M. Sokolinsky - 2nd ed., revised. and additional .- M .: KNORUS, 2010.-464 p. . D. Keynes and his followers developed the concept state regulation economy in order to increase its static efficiency.

Neoclassical economists, continuing the development of the theory of static equilibrium, created the theory of general equilibrium, the basis of which was the model of L. Walras, who attempted to mathematically express the proportions of static equilibrium.

In the second half of the XX century. under the influence of scientific and technological revolution, economic systems Western countries developed in the conditions of the need to maintain a dynamic balance with the growing productivity of production resources.

In this regard, the optimal static equilibrium is considered by economic science only as contributing to the analysis of the problems of economic dynamics.

In the conditions of growing productivity of production resources, the economic system is deprived of stability, and the maintenance of dynamic equilibrium is practically not solved either by the market or by state regulation.

Achieving dynamic equilibrium in the context of growing productivity of production resources is complicated, since the scientific and technological revolution Course of economic theory: textbook / Ed. Chepurina M.N., Kiseleva E.A. - 6th ed. - Kirov: "ASA". - 2012. - 848 p. as main factor increasing the efficiency of resources introduces significant changes in the structure of production, the quantitative and qualitative needs of producers and consumers, employment, etc.

The increasing efficiency of productive resources entails the need for changes in the proportion of savings and consumption, income distribution, and exchange.

Already with the implementation of the first technical achievements and the growth of labor productivity, the capitalist economy loses stability and turns into a non-equilibrium one. With the growth of innovations in all areas human activity disproportionality is increasing, and opportunities for achieving equilibrium are decreasing, despite the growing influence of state regulation aimed at harmonizing macroeconomic proportions.

Under the influence of scientific and technological progress, increasing the efficiency of production resources, the market economy turns into a dynamically unstable one, in which equilibrium acts only as a moment, a short phase in the reproduction process, manifesting itself in the form of a crisis - a violent (spontaneous) achievement of proportionality.

Achieving Economic Economic Theory: Textbook / I.V. Novikov and others. Ed. I.V. Novikova. - Minsk: BSEU, 2012. - 543 p. equilibrium in all markets, i.e. as an equilibrium of the economic system as a whole is a practically difficult task.

Its solution is especially complicated in conditions of a predominantly intensive type of economic growth, which is characterized by significant quantitative and qualitative changes in all socio-economic relationships.

At the same time, achieving economic balance is so important for the effective development of the socio-economic system that this problem cannot be ignored by economic theory and practice. After all, achieving economic equilibrium would mean proportionality in production and consumption, supply and demand, production costs and results, material and cash flows.

This would mean, ultimately, the realization of the economic interests of each of the economic entities in the macrosystem, with their mutual consistency.

At the same time, despite the impossibility of a practical solution to the problem of economic equilibrium in a market system, economic science is making more and more successful attempts to objectively comprehend functional socio-economic relationships at the macro level in the conditions of market relations.

These studies are not only cognitive, but also applied in nature: to objectively understand, to the extent possible, quantify proportional relationships in order to increase the efficiency of state regulation and minimize the socio-economic losses from macroeconomic disproportionality.

Thus, considering theoretical basis economic equilibrium, the following conclusions can be drawn:

· Economic equilibrium is understood as the balance of production and consumption, resources and their use, supply and demand, factors of production and its results, material and financial flows; as a correspondence between resources and needs, as a way of using limited resources to create marketable goods and services and redistribute them among members of society;

The main types of economic equilibrium include ideal, real (general, partial) equilibrium; Brodskaya T.G., Vidyapin V.I., Gromyko V.V. etc. Economic theory: Textbook. - M.: RIOR. - 2011. - 208 p.

Economic science distinguishes between static and dynamic equilibrium, the difference between which lies in the static or dynamic change in the basic proportions in the economy;

Three types of dynamic equilibrium can be distinguished: with increasing productivity of resources; with their constant performance; with declining resource productivity. The optimal dynamic equilibrium is the equilibrium with increasing productivity of production resources.

1.3 faktora formiroinania econaboutmicraextaboutineuia firms

There is a theory of business life cycles. There are the following stages life cycle presented in Table 2.1. Economy. Textbook edited by A.S. Bulatov. M.: Economist, 2010 (4th ed.)

Table 2.1

For example, the income of a machine-building enterprise from the main activity is 30/70 (money / settlement), and the same ratio for the normal financial support of current activities is 50/50. Stankovskaya I.K., Sagittarius I.A. Economic theory: textbook. - M.: Eksmo. - 2010. - 448 p. The emerging problem of covering the emerging imbalance leads, of course, to additional costs. However, mutual settlement operations are characterized, as a rule, by increased profitability (transformational income) and are more profitable for the company, if we do not take into account the costs of overcoming the inefficient structure of its financial resources and sources of their formation (transformation costs). At the same time, the manager, correlating transformation costs and income, must, in addition to the direct economic effect, evaluate and take into account other factors, in particular, associated risks. This significantly complicates the task of achieving the equilibrium of the company, emphasizes the importance of its financial aspect and determines the need for an appropriate study of financial relations at the micro level in the context of the transformation of the economic system and the existing uncertainty in the structure of the payment turnover. The need for the economic equilibrium of the firm is that the firm retains its viability.

In the modern economy, it is enterprises (firms) that produce the bulk of goods and services that satisfy human needs. And, in my opinion, this is the main reason for the need for economic equilibrium of the firm. It is well known that the market provides freedom, and the firm limits it, as it implies the existence of an administrative hierarchy, control and conscious planning. The fact is that the use of the market mechanism is not cheap. Each market participant must bear the cost of "extraction" of information about their suppliers and buyers, the introduction of negotiations and control over compliance with the terms of the contract, etc. All these costs are called transactional (lat. transactio - transaction). This leads to the conclusion that firms (enterprises) will exist because of the need for the goods and services they produce.

The entrepreneur acquires certain services (factors of production) not because he feels an immediate desire to have them, but because he needs them to fully use his production capabilities. It can be considered that the number of factors of production that he uses depends entirely on the nature of the production they provide; therefore, an enterprise (carrying out the transformation of factors into products) can be called a separate economic unit, the functioning of which is not connected with the personal needs of the entrepreneur. It acquires factors of production and sells products the purpose of the enterprise is to maximize the difference in the cost of factors and products.

So, any enterprise (firm) A.I. Popov, Economic Theory. Textbook for universities, 4th ed. Publishing house Peter - 2012 - 53 p. in the market acts in two roles: as a seller of the created goods and as a buyer of factors of production (land, labor and capital). Factors of production are a set, an interconnected system of the use of economic resources in the production process.

As a seller of its products, the firm enters the market for goods; as a buyer of resources - to the market for factors of production. What are the behavioral characteristics of the firm as a seller? His main interest, according to the law of supply, is to sell more products at a higher price. When the price of products is high, firms increase their production and supply to the market.

In the market for factors of production, enterprises act as carriers of demand and strategies to purchase the necessary resources as cheaply as possible. The behavior of the firm as a buyer as a whole is described by the already known law of demand; more resource purchases for more low prices. By purchasing factors of production and organizing the process of manufacturing goods, the entrepreneur will subsequently receive income from the sale of finished products. This income is distributed in a certain way depending on how many and what factors are used. Value wages depends on the amount of labor involved work force); rent -- from the value of the value of the land used; interest and profit from the amount of capital put into action. It is production (the value of production costs) that determines the structure of purchases of factors of production.

Factors Economic theory: Textbook / Under. Tot. editors of Academician V.I. Vidyapin, A.I. Dobrynin, G.P. Zhuravleva, L.S. Tarasevich - M.: INFRA-M, 2011.-672 p. production in a certain sense are interchangeable. A firm can use different combinations of factors of production. The selection criterion for combining factors of production is the lowest cost of production. Practically the task of choice the best combination factors of production is solved by comparing:

a) the market price of the factor of production;

b) the marginal, additional product that is produced with the help of an additional unit of this factor of production.

The marginal product of a factor of production is the increase in the physical volume of the product, despite the fact that the additional factor of production spent on its production has increased by some minimum amount (one unit). To determine the strategy and tactics of a firm's graying in the market of production factors, it is important to know the changing part (increase) of the product, as well as how this increase can be ensured, on which money can be saved. Thus, comparing the value of marginal products obtained from the use of additional units of various factors of production, allows entrepreneurs to achieve the optimal organization of production. If one factor is more expensive, it is replaced by another, as if there is competition between additional factors of production for the marginal product.

As a result of such competition, an equilibrium of factors of production is formed, that is, their more or less stable combination.

Process Economic Theory: Textbook / Ed. A.G. Gryaznova, T.V. Checheleva. - M.: Publishing house "Exam". - 2012. - 592 from the replacement of one factor by another stops when the state of equilibrium is reached, when for 1 ruble of any factor of production, an equal marginal product and an equal income after its sale are obtained.

The demand for factors of production (land, labor, capital) mainly depends on:

a) on the volume of production;

b) on the ratio of prices for factors of production.

When determining the volume of production, the firm proceeds from

1) demand for goods;

2) the need to achieve equality of marginal revenue to marginal costs. At the same time, the enterprise has stable incomes at certain production costs. This value determines the aggregate demand for all factors of production. In addition, the demand for factors of production is a derivative, for which the initial demand is always the demand for end products firms.

In other words, the higher the demand for the product that you produce, the higher the demand of your enterprise for a certain combination of factors of production at prices that can minimize your costs.

By purchasing factors of production, the entrepreneur provides himself with the opportunity to receive income, since the purchased factor of production becomes the capital of the enterprise.

Glaina 2.Econaboutmical raextaboutinyesfirmsincoinremennsconditionallyinyah

2.1 specialnnostand raextaboutinyesia firms

As the historical development of the economy, the consolidation of business entities and the increase in the maturity of forms entrepreneurial activity, division of capital-property Gukasyan, G.M. Economics from "A" to "Z": Thematic guide / G.M. Gukasyan.-- M. : Infra-M, 2011 .-- 480 s and capital-functions and professionalization of management, the owner of funds acquired expanding opportunities to receive income from property, gradually realizing that the market model of economic management is the most rational. Perfect organizational forms modern firms, firstly, they allow owners to receive income in various forms, differentiating them according to the level of risk, secondly, they leave the opportunity for them to take part in enterprise management and decision-making at all levels of management, thirdly, they allow shifting difficulties operational management and current business management to professional managers.

With the transition to a market economy Russian enterprises, regardless of the form of ownership, received complete economic independence. Today, they themselves study the demand in the markets for goods and services, design and test new product samples, equip production with the necessary technological equipment, enter into business relationship with other enterprises in Russia and abroad, they promote their goods and services to the domestic and foreign markets and, by selling them, make a profit for the further development of production.

The necessity of the firm for the national economy is determined by many obvious factors. Here are the objectively occurring processes of concentration and centralization of production and capital, and the need for division of labor and consolidation of job duties for certain employees with subsequent coordination of their activities, and the requirements of technology, which come from the unity of the approach at each stage of production, and many others.

The development of the national economy objectively dictates to all participants economic activity the need not only to study the accumulated experience of management, but also to search for their own specific forms and methods of managing a company, adapted to Russian conditions. An optimal search can only be carried out by a market model of company management with a certain share of state regulation aimed at achieving the optimal ratio of the entrepreneur's claims in his activities to make a profit and the principle of social justice.

The equilibrium of the firm, its stable position in conditions of perfect competition, is achieved when marginal revenue and marginal cost are equal. It should be borne in mind that the marginal revenue itself is equal to the price of the goods. This happens because an increase in the supply of a product by an extremely small amount (one) gives an increase in income, and this will add to the total revenue the price of one product. This means that marginal revenue is equal to the price of the good. So, the equilibrium of the firm, under which it chooses the optimal output, implies the following equality:

P=MS-MR,

where R is the price of the goods; MC is its marginal cost;

MR - his marginal income http://www.i-u.ru/ - Russian Internet University for the Humanities.

Equilibrium of the firm in a monopolistic market. Here the situation is somewhat different. First of all, a monopoly as a leader in an industry has the ability to impose a price on the market, while under perfect competition the manufacturer adapts to it.

Therefore, the demand curve for a monopolist coincides with the price. As for the marginal revenue curve, it is usually located below the price line. This happens because a monopolist in a saturated market can only increase production by lowering prices. At the same time, there is a decrease in prices not only for additional products that have entered the market, but also for all similar goods of the seller. Each new batch reduces the price of all goods presented for sale. Therefore, the marginal income will be formed not only by the price of the additional product, which determines the increase in gross income.

The latter is adjusted for the amount of losses from a decrease in the prices of the entire batch of goods previously presented to the market. Suppose two lots of goods were introduced to the market at a price of $5, and with the arrival of the third batch, prices were lowered to $4. In this case, the marginal revenue of the third batch (i.e., the increase in income) will be the increase in revenue, reduced by the amount losses from lowering prices for the previous, not yet sold, two batches.

The marginal revenue would be $2 ($4 + (- $2)). http://50.economicus.ru/ - 50 lectures on microeconomics As we can see, it is less than the price ($4). So, in conditions of monopolistic competition with a saturated producer's market, the price is higher than marginal revenue P > MR As for the comparison of marginal revenue and marginal cost, the rule that determines the optimal output and maximum profit remains the same: MC == MR. This is due to the fact that the monopoly, as a rule, is not absolute, having once and for all fixed its exceptionally advantageous position. The monopoly is afraid of international competition, and that buyers at a higher price will reduce their purchases by switching to the consumption of substitute goods. Therefore, in conditions of monopolistic competition, the entrepreneur retains the strategy characteristic of the market of perfect competition, when the rate of income increment should not exceed the rate of cost growth. In this case, the industry will be protected from the influx of competitors.

However, when the monopoly is confident in its uniqueness, which is typical for a closed economy, a criminalized market, especially when it comes to the production and sale of goods of inelastic demand, its behavior becomes different. The monopolist begins to actively inflate prices, which infringes on the interests of consumers.

Protection from competition leads to a change in the criterion of production efficiency. The firm in these conditions is no longer satisfied with the equality of marginal revenue and marginal cost. She chooses such a development option when the rate of increase in income exceeds the rate of increase in costs. So, MR> MS Plotnitsky M.I., Lobkovich E.I., Mutalimov M.G. Course of economic theory. - Minsk: "Interpressservice"; "Misanta", 2010 - 496 p. . Under these conditions, the monopoly can maximize its income even with smaller volumes of production. Such a monopoly usually generates higher prices and lower volumes compared to the conditions of pure competition.

From the point of view of society, this means that resources are not distributed among industries and enterprises in the most rational way, since the monopoly collects tribute from other producers through inflated prices, depriving them of part of their income. Narrowing the scale of supply means that consumer demands are not fully satisfied, and this leads to a discrepancy between the actually produced total product of society and the potential of society. Approximately the same picture is revealed when analyzing the effect of a monopoly on a scarce market under conditions when increased demand cannot be short term cover the increase in supply.

2.2 Raextaboutinyes firmsAkinasistem» inkratkosrochnaboutmperiod

In the short run, the firm has a minimum of freedom of choice. It is not even able to increase output in accordance with the increased consumer demand. To do this, the company is forced to increase purchases of raw materials, possibly introduce overtime work and hire additional workers. Even after all this, it will be some time before the firm starts producing additional products.

The short-term period is such a short period of time that within its limits the company cannot change the amount of resources used in production (equipment, production facilities, technologies). A change in the volume of output in the short term is possible only by maneuvering the existing production capacities (for example, by using them overtime). .

Let's try to find out at what level of production the maximum profit is achieved, i.e. maximizes the difference between total revenue and total cost. Modern economic theory states that profit maximization or cost minimization is achieved if and only if marginal revenue equals marginal cost (MR=MC). Consider it on specific example organization Aquasysmem LLC.

The company is organized as Aquasystem Limited Liability Company.

The company belongs to an industrial enterprise. The main activity is the production of goods and the sale of finished products. The staff of the enterprise is planned to be 150 people. The company is commercial. The purpose of the charter is to maximize profits. The director is at the head of the enterprise.

At the beginning of 2010, the situation on the roofing materials market was ambiguous. LADA ONLINE. Information-analytical agency [Electronic resource]. - Access mode: http://ladaonline.ru/autoprom_news/ On the one hand, there was a change in the situation compared to the same period in 2009 in better side On the other hand, the population remained uncertain about the stability of the country's economy, confidence in the future, and the stability of their income. Doubts about further stability arose not only among the end consumers of housing, but also among the developers themselves.

The crisis situation in 2009 led to an increase in lending rates for construction organizations, difficulty in obtaining new loans and refinancing old ones, which led to a nationwide slowdown in construction. The decrease in building areas in 2009 is directly related to the reduction in the consumption of roofing materials and accessories. But despite this, in 2010 there was a positive trend in sales in relation to the same period in 2009. And in the last quarter of 2010, there is a compliance with the fulfillment of the set plans and tasks, which indicates that the market has "revived". Aquasystem LLC operates under conditions of perfect competition, where there is freedom of access to the market, i.e. so that new firms can enter the market without any obstacles when there is an opportunity to make a profit on it.

Such free access lowers the demand curve of each firm until profits in each of them reach normal levels and there is no incentive for new competitors to enter the market. In a perfectly competitive market

BUTnsales report for 2010.

Gutter production is carried out by the company in a continuous cycle. It can be clearly seen from the diagram that the drain, which is sold by Aquasystem LLC, is seasonal. Sales of manufactured products increase only in those months that the consumer needs most. Therefore, in the short term, an increase in demand can only be met by stocks. finished products in stock.

Now consider the maximum profit of Aquasystem LLC in the short term.

cost scheduleinkratkosrochnth periodinremenand planiruemth

Sales chartinkratkosrochnth periodinremenandrealnth

Each unit of goods has a certain price, respectively, the greater the volume of production, the greater the revenue (provided that the products are sold).

The economic equilibrium of Aquasystem LLC will come when S1 is equal to S2.

Scheduleinreleasemoh productsinkratkosrochnth periodinremenand

On segments AB and CD - sales are less than production volume

On segment BC - sales exceed production volume

Currents B and C - equilibrium points

By selling as many products as you produce, we are approaching economic equilibrium.

2.3 Raextaboutinyes firmsinlong termnaboutmperiod

The long run is a period of time during which the firm changes all factors of production. No factor, including capital, remains constant.

This means that in the long run, the firm's output can be increased or decreased by changing any factor that is most beneficial to the firm. The firm seeks to expand production by lowering average costs. .

Over the long term, all the firm's current contracts will be fulfilled, equipment will become unusable or obsolete so that it needs to be replaced, and so on.

The long-term period is characterized by the fact that the firm can solve the problem of producing one or another volume of output by changing all the resources it inputs.

Since all factors become variable, the firm seeks to expand output, and so that the cost per unit of output is minimal.

At the same time, in the long run, there are no fixed costs, and the average variable costs are equal to the average total costs.

Long termnth periodinremenand

Wednesday schedulentheir costsinlong termnth periodinremenand

AC - average costs in the short run

ACL - average costs in the long run

2006 production volume 500

2007 production volume 510

2008 production volume 527

2009 production volume 650

2010 production volume 670

Wednesday schedulenher profitsinlong termnth periodinremenand

AP - average profit

Econaboutmical raextaboutinyes firmsinlong termnth period

From 2006 to 2008, the production goes on in a continuous cycle, the output grows slightly. The volume of production increases due to the acquired experience, an increase in labor productivity, as well as labor discipline.

In 2009 a new gutter production line was put into operation. LLC "Akvasistem" expanded its production to increase the volume of production, but demand fell sharply due to the 2009 crisis. Accordingly, costs increased, as there were a lot of unsold products in stock.

In 2010, the availability of goods in the warehouse decreases, and costs also decrease.

On section AB - the difference between the average profit and average costs in the long run reaches its maximum value, which corresponds to the value of Qeff.=550.

Efficient production point Qef, characterizes a lower level of costs per unit of output.

Conclusionnie

Nowadays central issue is the study of the conditions for achieving sustainable equilibrium economic growth.

Now the relevance suggests that, in a market economy, such proportionality requires that the mass and structure of manufactured products correspond to the size and structure of social needs.

In the market, this is manifested in the correspondence of aggregate demand and aggregate supply. Ultimately, such a correspondence forms a balance between production and consumption, material and cash flows.

The condition for the economic equilibrium of the company is the maximum possible achievement of the intended goals: for the seller - the maximum revenue, for the entrepreneur - the greatest profit, for the buyer - the greatest utility of the purchased product, which its income can provide (the amount of money allocated for the purchase).

The manufacturer's task is to choose such a combination of resources in order to achieve a certain volume at minimal cost.

Under competitive conditions, the firm is in short-run equilibrium under the condition that marginal cost and marginal revenue are equal.

Because for a competitive firm, the selling price is set by the market and remains constant for any output, marginal revenue is the same as price.

This means that the average income is equal to the price. In the short run, firms can make profits and incur losses, because some firms will have average costs below the price, others - above.

Unprofitable firms will leave the industry, while profitable firms will attract new competitors to it.

In the long run, all costs of the firm become variable, because the firm can change any resources. In the long run, the number of firms may change, causing average cost to equalize price and profit to disappear.

Therefore, the long-run equilibrium of competitive firms is characterized by firms earning only normal profits.

List of usesmuh istochnikoin

1. S.N. Ivashkovsky "Economics for managers"; Publishing House Delo - 2010

2. Economic theory. Microeconomics-1,2: Textbook / Under the general editorship of the Honored Scientist of the Russian Federation, Prof. Zhuravleva. - 2nd ed., corrected. and additional - M.: Publishing and trading corporations "Dashkov and K", 2011 - 934 p.

3. Nikolaeva I.P. "Economic Theory" 2nd ed., revised. and additional - M.: Unity-Dana, 2011. - 527 p.

4. Economic theory: Textbook /V.M.Sokolinsky, V.E.Korolkov and others; under. ed. A.G. Gryazina and V.M. Sokolinsky - 2nd ed., revised. and additional .- M .: KNORUS, 2010.-464 p.

5. Course of economic theory: textbook / Ed. Chepurina M.N., Kiseleva E.A. - 6th ed. - Kirov: "ASA". - 2012. - 848 p.

6. Economic theory: Textbook / I.V. Novikov and others. Ed. I.V. Novikova. - Minsk: BSEU, 2012. - 543 p.

7. Brodskaya T.G., Vidyapin V.I., Gromyko V.V. etc. Economic theory: Textbook. - M.: RIOR. - 2011. - 208 p.

8. Economy. Textbook edited by A.S. Bulatov. M.: Economist, 2010 (4th ed.)

9. Stankovskaya I.K., Strelets I.A. Economic theory: textbook. - M.: Eksmo. - 2010. - 448 p.

10. A.I. Popov, Economic Theory. Textbook for universities, 4th ed. Publishing house Peter - 2012 - 53 p.

11. Economic theory: Textbook / Under. Tot. editors of Academician V.I. Vidyapin, A.I. Dobrynin, G.P. Zhuravleva, L.S. Tarasevich - M.: INFRA-M, 2011.-672 p.

12. Economic theory: Textbook / Ed. A.G. Gryaznova, T.V. Checheleva. - M.: Publishing house "Exam". - 2012. - 592 p.

13. Gukasyan, G.M. Economics from "A" to "Z": Thematic guide / G.M. Gukasyan.-- M. : Infra-M, 2011 .-- 480 s

14. http://www.i-u.ru/ - Russian Humanitarian Internet University

15. http://50.economicus.ru/ - 50 lectures on microeconomics

16. Plotnitsky M.I., Lobkovich E.I., Mutalimov M.G. Course of economic theory. - Minsk: "Interpressservice"; "Misanta", 2010 - 496 p.

17. LADA ONLINE. Information-analytical agency [Electronic resource]. - Access mode: http://ladaonline.ru/autoprom_news/

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Introduction ................................................ ................................................. ...... 3

1. Theory of the firm and producer equilibrium .............................................. 5

1.1 Firm: entity, types, objective function .............................................. 5

1.2 The product of the firm's activities.................................................... ...... 26

1.3 Producer equilibrium .......................................................... ........... 33

2. Analysis of the tourism market.................................................... ......................... 35

3. Calculation and graphic task .............................................. ............... 41

Conclusion................................................. ................................................. .46

Bibliography................................................ ............................................... 48

INTRODUCTION

Economic activity in a market economy is carried out by many economic entities - enterprises, organizations, firms, households. In the context of the complication of economic relations, the processes of organizing and managing production, it is firms that become the main participants in entrepreneurial activity, act as special institutions for the distribution of resources and the production of the bulk of goods and services. The experience of countries with developed market economies indicates that the firm is one of the most effective forms of organizing economic activity.

In the Russian economy, the firm as a special institution and phenomenon market economy is at the stage of its formation and development and needs conceptual, scientific and methodological support.

In the conditions of the modern Russian economy, the formation of firms is characterized as a complex and contradictory process. As a result of transformational transformations, unequal conditions for economic activity were formed, a low level of protection of property rights, and the informal sector of the shadow economy began to develop. The outstripping development of firm forms in comparison with the process of adopting laws, the dominance of informal institutions in the activities of firms, the violation of laws by firms, the desire of large firms to monopoly power, the merging of business with the authorities, the high tax burden, the existence of administrative barriers determined the specifics of their formation in the Russian economy.

The study of the firm as a special institution in the modern Russian economy necessitates the study of the institutional environment and its elements. The institutional environment of Russian firms, which forms the framework conditions for their activities, is characterized by the weakness of economic institutions, the inconstancy of the legislative framework, which complicates the predictability and certainty of the development of firms.

The objectives of the course work are to study the theory of the firm and analyze its equilibrium

Objectives of the course work:

Describe the essence, goals and target function of the company

Research the company's product

Conduct a producer equilibrium analysis

· Explore the tourism market

Solve the presented problems

The literature is represented by textbooks on economic theory, periodicals, statistical collections.

1. FIRM THEORY, MANUFACTURER'S EQUILIBRIUM

1.1 Firm: entity, types, objective function

The concept and target function of the firm

The emergence and expansion of firms date back to the period of primitive capital accumulation. It was then that many individual and associated enterprises began to emerge, which later became the backbone of factory production and organizational form entrepreneurial activity. The functions of firms at subsequent stages of economic development and scientific and technological progress have been constantly expanding, and their role in the economy has increased more and more.

The firm as an economic structure and how economic category costs in a long period of development of market relations has evolved significantly. Initially, the concept of "firm" (from Italian. firma- signature) meant the "trade name" of the merchant. Now this term denotes an institution that transforms resources into products. In the educational literature, the firm is considered as a specific organization , economic and legal entity engaged in production activities (production of economic goods) and possessing economic independence in deciding what, how and for whom to produce, where, to whom and at what price to sell. A more complex definition of the firm takes into account its coordinating role as a mechanism for allocating resources. Thus, firm function is the pooling of resources to produce goods and services needed by consumers. The ultimate goal of the company is to maximize the welfare of its owners. The goal of the firm is to maximize profit, which is the difference between gross revenue (TR) and total costs (TC) for the sales period:

profit = TR - TS.

The main forms of enterprises (firms)

At any economic system Not only does a huge number of firms operate, as mentioned above, but there are also various types of them. This is primarily due to the variety of ways to save (minimize) transaction costs. A firm as a production unit and an instrument of entrepreneurial activity always has one or another organizational and legal form. From a legal point of view, a firm (enterprise) means an independent economic entity with the rights legal entity which combines under its control the factors of production - capital, land and labor - with the aim of producing goods and services.

Legal form is a set of legal norms that determine the relations of the participants of the enterprise with the whole world around. In world practice, various organizational and legal forms of enterprises are used, which are determined by the national legislation of individual countries. The laws give these enterprises the status of a legal entity that owns its own property and is liable for its obligations with this property, has an independent balance sheet, acts in civil circulation, in court, arbitration court and arbitration on its own behalf.

According to the current legislation, the following organizational and legal forms of enterprises currently exist in Russia:

· State enterprise

· Municipal enterprise

Individual (family) private enterprise

General partnership

Mixed partnership

・Partnership with limited liability

Joint stock company (open and closed types)

· Consolidation of enterprises

Enterprises created on the basis of rent and purchase of property labor collective

Concepts such as MP (small enterprise), joint venture (joint venture), cooperative are now considered obsolete. They reflected not the legal status of the enterprise, but some of its economic features. So, MP is a characteristic of an enterprise in terms of the number of employees. For example, according to Russian legislation in the sphere of services and trade, such is an enterprise with a staff of 15 to 25 people, in the field of science - up to 100 people, in industry and construction - up to 200. Why was such a category as MP singled out? All over the world, including ours, there are programs to support small businesses. Privileges are established for SE: in the first year of its existence, it pays a quarter of the full tax rate, in the second year - half. And MPs in the field of innovation, construction, and in a number of other areas of activity in the first two years from the time of foundation were often not taxed at all.

The concept of a joint venture is also purely economic, showing who created it. In our country, this form was used due to the fact that initially there was no complete clarity regarding the legal status of the joint venture. World experience suggests that about 90% of joint ventures are limited liability companies. Now in Russia and other CIS countries, joint ventures are also included mainly in this category. The law also allows the creation of a joint venture in the form of other companies.

Let us dwell on the characteristics of the main organizational and legal forms of entrepreneurial activity, the most common in the modern world economy. These include:

Sole proprietorship (private enterprise) firm;

partnership (partnership);

a corporation ( joint-stock company).

Private company is the oldest form of business organization. As the name implies, such a firm is owned by an entrepreneur who buys the factors of production he needs on the market. In other words, a privately owned firm is owned by one person who owns all of its assets and is personally liable for all of its obligations (is the subject of unlimited liability).

The owner of a classic private enterprise is the central figure , with which the owners of all other factors of production (resources) enter into contracts. He usually owns the most important (interspecific) resource. This resource can be either physical or human capital(special intellectual, entrepreneurial and other abilities).

The goal of a privately owned firm is to maximize the owner's profit - the income remaining after making all payments to the owners of the factors. A privately-owned firm should be distinguished from a capitalist firm, owned by capital owners and whose goal is to maximize the return on invested capital.

In addition, the functions of an entrepreneur in such a firm are usually performed by a hired manager-manager.

Self-employed firms have a number of important advantages due to which they have become widespread in the business world, but at the same time they have significant disadvantages.

The obvious benefits include:

1) ease of organization. Due to its simplicity, commercial pre-