Firms’ cost, revenue and objectives.pptx

Firms’ cost, revenue and objectives

By the end of this chapter, students should be able to: 在本章结束时，学生应能够： define and calculate costs of production 定义并计算生产成本 draw and interpret diagrams that show how changes in output affect costs of production 绘制并解释展示产量变化如何影响生产成本的图表 define revenue 定义收入 define and calculate total revenue (TR) and average revenue (AR) 定义并计算总收入（TR）和平均收入（AR） explain the objectives of firms: survival, social welfare, profit maximisation and growth 解释企业的目标：生存、社会福利、利润最大化和增长

22 – Firms’ costs, revenue & objectives

Objectives of firms

• Profit maximisation is the main goal of most private sector firms. Profit is maximised when the positive difference between a firm's sales revenue and its cost of production is at its greatest.

22 – Firms’ costs, revenue & objectives

taxes paid to the government based on the value of company profits 根据公司利润支付给政府的税款

dividend payments to shareholders 支付给股东的股息

utility bills for telephone, gas and electricity services 电话、燃气和电力服务的公用事业账单

purchases of raw materials and components from suppliers 从供应商处购买原材料和零部件

advertising expenses 广告费用

rent paid to land owners for hiring business premises 支付给房东的租金，用于租赁商业场所

wages and salaries paid to employees 支付给员工的工资和薪水

Costs of production refer to firms' expenditure in the process of producing goods and/or providing services. 生产成本是指企业在生产商品和/或提供服务过程中所产生的支出

Costs of production 生产成本 Costs of production are the payments made by firms in the production process. Examples of these are: 生产成本是企业在生产过程中支付的款项。以下是一些例子：

22 – Firms’ costs, revenue & objectives

Average total cost: Total cost per unit of output. 平均总成本：每单位产出的总成本。

Average variable cost: Variable cost per unit of output. 平均可变成本：每单位产出的可变成本。

Average fixed cost: Fixed cost per unit of output. 平均固定成本：每单位产出的固定成本。

Total cost: Sum of fixed and variable costs. 总成本：固定成本和可变成本的总和。

Variable costs: Costs that change with the level of output. 可变成本：随产量水平变化的成本。

Fixed costs: Costs that remain constant regardless of output level. 固定成本：无论产量多少，成本保持不变。

Costs of production 生产成本

Costs of production can be categorised in several ways. 生产成本可以通过多种方式分类。.

22 – Firms’ costs, revenue & objectives

Costs ($)成本（￥）

Fixed Costs. 固定成本

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Output Level. 产出水平

Fixed costs are costs that a firm has to pay irrespective of how much it produces or sells. 固定成本是指企业无论生产或销售多少都必须支付的成本。

Fixed costs (FC) are the costs of production that have to be paid regardless of how much a firm produces or sells. 固定成本（FC）是指无论企业生产或销售多少，都必须支付的生产成本。 For example, salaries for senior managers, insurance payments, administrative costs, bank loan repayments, and rent all have to be paid regardless of the firm's output level. 例如，高级管理人员的工资、保险费、行政费用、银行贷款还款和租金，无论企业的产量如何，都必须支付。

22 – Firms’ costs, revenue & objectives

Costs ($)成本（￥）

Total Variable Costs. 可变成本

Output Level. 产出水平

Variable costs change as the level of output changes. 可变成本随着产出水平的变化而变化The higher the level of production, the lesser the total variable costs will be. 生产水平越高，总可变成本越低

Fixed costs 固定成本 Variable costs (VC) are costs of production that change when the level of output changes. 可变成本（VC）是指当产出水平变化时，生产成本也随之变化的成本。 Examples are the costs of raw materials, component parts, and the payment of wages needed to build houses — the more houses that are built, the higher these variable costs become. 例如，原材料、零部件的成本以及建造房屋所需的工资——建造的房屋越多，这些可变成本就越高。

22 – Firms’ costs, revenue & objectives

Total cost = fixed costs + variable costs 总成本 = 固定成本 + 可变成本

Total cost is the sum of all fixed and variable costs of production. 总成本是所有固定成本和可变成本的总和

Total cost 总成本 Total cost (TC) refers to the sum of all fixed and variable costs of production. 总成本（TC）是指生产中所有固定成本和可变成本的总和。 The total cost line, shown in Figure 22.3, starts at the same value as fixed costs because even when nothing is produced, fixed costs still have to be paid by the firm. 如图 22.3 所示，总成本线从与固定成本相同的值开始，因为即使没有生产，企业仍需支付固定成本。

22 – Firms’ costs, revenue & objectives

It is calculated using the formula: 其计算公式为： Average fixed cost = fixed cost ÷ output level 平均固定成本 = 固定成本 ÷ 产出水平

Average fixed cost refers to a firm's fixed cost per unit of output. 平均固定成本是指企业每单位产出的固定成本。

Average fixed cost 平均固定成本 Average fixed cost (AFC) is the fixed cost per unit. 平均固定成本（AFC）是每单位的固定成本。 As a firm produces more output, its fixed costs are divided by a greater quantity (of output), so AFC continually declines 随着企业生产更多的产品，其固定成本被更大的产量分摊，因此平均固定成本不断下降。

22 – Firms’ costs, revenue & objectives

The onset of diseconomies of scale will increase a firm's AVC as it overproduces. 当企业过度生产时，规模不经济的出现将导致其平均可变成本上升。

Average variable cost = variable cost ÷ output level 平均可变成本 = 可变成本 ÷ 产出水平

Average variable cost refers to the variable cost per unit of output. 平均可变成本是指每单位产出的可变成本

Average variable cost 平均可变成本 Average variable cost (AVC) is the variable cost of production per unit of output. 平均可变成本（AVC）是每单位产出的生产可变成本。 It is calculated by dividing variable cost by the number of units produced. 它通过将可变成本除以生产的单位数量计算得出。

22 – Firms’ costs, revenue & objectives

The formula to calculate ATC is: 计算平均总成本的公式是： Average total cost = total cost ÷ output level 平均总成本 = 总成本 ÷ 产出水平It is TC = FC + VC 成本（TC）= 固定成本（FC）+ 可变成（VC）

Average total cost is the cost per unit of output, i.e. the total cost of making one product. 平均总成本是每单位产出的成本，即生产一个产品的总成本。

Average total cost (ATC), also known as the cost per unit, refers to the total cost of making one product — it is the unit cost of production. 平均总成本（ATC），也称为单位成本，指的是生产一个产品的总成本——即生产的单位成本。

22 – Firms’ costs, revenue & objectives

How changes in output affect costs of production 产量变化如何影响生产成本

Firms that operate on a large scale are able to reduce their average cost of production.大规模运营的企业能够降低其平均生产成本. The diagram shows that the firm is able to enjoy economies of scale (lower average costs) as it expands output from 0A to 0B. 图表显示，随着企业将产量从 0A 扩大到 0B，企业能够享受规模经济（较低的平均成本）。 However, if the firm becomes too large, by operating beyond 0B, it will suffer from inefficiencies, thus leading to diseconomies. 然而，如果企业变得过大，超出 0B 运营，它将遭遇效率低下，从而导致规模不经济

22 – Firms’ costs, revenue & objectives

Revenue

22 – Firms’ costs, revenue & objectives

Calculation of Average Revenue 平均收入的计算 Average revenue (AR) refers to the typical price received from the sale of a good or service. 平均收入（AR）是指通过销售商品或服务所获得的平均价格。 It is calculated using the formula: 其计算公式为： Average revenue = total revenue ➗ quantity sold 平均收入 = 总收入 ➗ 销售数量

Calculation of revenue 收入的计算 Total revenue (TR) refers to the total amount of money a firm receives from selling goods and services. 总收入（TR）是指企业通过销售商品和服务所获得的总金额。 It is calculated by using the formula: 其计算公式为： Total revenue = price × quantity sold 总收入 = 价格 × 销售数量

Revenue 收入 Revenue refers to the money payable to a business from the sale of its product. 收入是指企业因销售其产品而应得的款项。 For example, Nike and Adidas receive most of their revenue from the sale of sports apparel and sports equipment. 例如，耐克和阿迪达斯的大部分收入来自于销售运动服装和运动装备。 The higher the volume of sales, the higher the firm's revenue will be. 销售量越大，企业的收入就越高

22 – Firms’ costs, revenue & objectives

Objectives of firms 企业的目标 Objectives are the goals or targets of an organisation, such as 目标是指组织的目的或任务，例如：

22 – Firms’ costs, revenue & objectives

• business survival 企业生存
• social welfare 社会福利
• Growth 增长
• profit maximization 利润最大化

Objectives of firms 企业的目标 Objectives are the goals or targets of an organisation, such as 目标是指组织的目的或任务，例如：

22 – Firms’ costs, revenue & objectives

Survival 生存 - While business survival is a vital objective for new businesses, even well-established firms will need to focus on this, especially during unfavorable trading times. 尽管生存是新企业的一个重要目标，但即使是成熟的企业也需要关注这一点，尤其是在不利的贸易时期。 To survive in the long run, firms need to be profitable. 为了长期生存，企业需要盈利。

Growth - this objective refers to increasing the size of a business. 增长 - 该目标指的是扩大企业的规模。 It usually means aiming to increase the firm's sales revenues and its market share (its proportion of the industry's total sales revenue). 通常意味着目标是增加企业的销售收入及其市场份额（即其在行业总销售收入中的比例。 Growth has several advantages, such as customer loyalty and economies of scale. 增长有多个优势，例如客户忠诚度和规模经济。

Social welfare - this refers to business activity with concerns for the quality of life of those in society. 社会福利 - 这指的是关注社会中人们生活质量的商业活动。 They include having ethical objectives and using moral principles (values and beliefs) to guide business activity. 这些活动包括设定道德目标，并使用道德原则（价值观和信仰）来指导商业活动。 Socially responsible businesses strive to improve the treatment of workers, customers, shareholders and the natural environment. 有社会责任感的企业努力改善对工人、顾客、股东和自然环境的待遇. Pursuing social welfare as a business objective can help to improve how the general public perceives the organisation. 社会福利 - 将社会福利作为企业目标可以帮助改善公众对该组织的看法。

22 – Firms’ costs, revenue & objectives

Profit is the positive difference between a firm's total revenue and its total costs of production.利润是企业总收入与其总生产成本之间的正差，利润 = 总收入 profit = TR - TC. （TR）- 总成本（TC）

Objectives of firms. 企业的目标

• Profit and profit maximisation - a firm earns profit if its total revenue exceeds its total cost of production. Profit is calculated by using the formula: 利润和利润最大化 — 如果企业的总收入超过其总生产成本，就能获得利润。

Profit = total revenue - total costs. 利润 = 总收入 - 总成本

• Profit provides an incentive for entrepreneurs to take risks. Without profit, firms will struggle to survive in the long run. 利润为企业家提供了承担风险的动力。没有利润，企业在长期内将难以生存。

22 – Firms’ costs, revenue & objectives