General Competitive equilibrium(GCE)
Competitve equilibrium 竞争均衡 以完全竞争为特征的市场或经济中供给和需求的平衡。由于完全竞争中单独的买者和卖者都没有力量影响市场，价格将趋向等于MC和MU的水平。General Competitive equilibrium(GCE)
Aggregate demand: Dx(px) = Σi xi(px) , where x=good, i=individual
Aggregate supply: Sx(px) = Σf xf(px) , where x=good, f=firm
Competitive equilibrium occurs at the intersection of aggregate supply and demand.
The competitive equilibrium is pareto optimal since any other quantity of x results in a lower social surplus. A pareto optimal outcome is called efficient.
Consumer surplus: CS = ∫p ∞ D(p) dp
Producer surplus: PS = ∫0p S(p) dp
ocial surplus: SS = CS + PS
posted by yuhu @ 6:55 PM
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