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本帖最后由 一起学CFA 于 2016-1-26 10:28 编辑 3 l3 z% |" Q/ F$ M& U" o
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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
; m: e$ U1 P# V2 P* nLearning Outcome Statements (LOS)
) d1 F- \2 T8 F( B. k4 i' Ia Describe the characteristics of perfect competition, monopolistic competition, oligopoly, and pure monopoly;
/ H2 I$ B9 P+ Z$ A+ ~3 Nb Explain the relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; 9 r$ a0 p$ ^3 S& L7 Q( l7 N
c Describe the firm’s supply function under each market structure; $ z5 M6 _% ? H/ Q. n/ E- s
d Describe and determine the optimal price and output for firms under each market structure;& E3 F/ Y5 n7 D3 d
e Explain factors affecting long-run equilibrium under each market structure;
6 A" `$ R0 d( y7 Sf Describe pricing strategy under each market structure;
; T" T x) u# F, c8 rg Describe the use and limitations of concentration measures in identifying;
5 T- P7 S3 U5 L3 s9 Ih Identify the type of market structure a firm is operating within;$ s4 e- ?- a0 [; P4 E
5 I# d }* p9 A. N/ m5 c
1. If the minimum efficient scale of a single producer is small relative to the demand for an undifferentiated good, the market structure of the producer is best described as being: # D; U/ w6 C" |6 n& W$ \6 P
A. an oligopoly
. ]( O' e$ e# [- W5 Y7 Y& L8 C9 `B. perfect competition ( r% x1 b+ H. \$ b4 Z
C. monopolistic competition . @ s; P- V- x U
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4 r( s: Q F1 D# ]: T% pAnswer：B' g3 T8 U5 P; P7 S/ |
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4 q- \3 E* V$ U* S0 E4 h$ F2. Successful product development, advertising, and the creation of brand names are most likely to have a positive impact on the economic profit of the producer under: $ s+ n' h: p- f. V }1 D* _
A. a monopoly ( U& d) k6 {( `2 z/ f' U
B. perfect competition ( A% c$ R# X% ^' f$ `
C. monopolistic competition * H0 ]2 s( i" ~. V4 y' j
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3. The least likely reason why a firm in perfect competition is a price taker is because:
3 A) N N9 V" L% l: vA. buyers are well informed about prices of other firms " _# `! V. K/ ^
B. it can set its product’s price at or above the market price
# R: `5 ?2 n# I" q9 s. NC. it produces a very small portion of the total output of a particular good 6 ` M5 m: G" ?( r: G
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( ^0 e$ f; b- c, m9 M: }4. For a firm in perfect competition, as output increases the marginal revenue will most likely:
: v7 D: D2 r/ y9 L8 y; ?: xA. increase
1 |, K r. x2 ^: b8 rB. decrease
* `" F6 E/ B1 G% x. zC. remain constant - G8 o6 G) h- x) z. K. Y0 Y9 p
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+ ?! x/ n2 @0 c4 a/ T! y5. First degree price discrimination is best described as pricing that allows producers to increase their economic profit while consumer surplus: 6 k/ S" h* N# h& s% P5 @0 u: C
A. increase
, J4 J# v9 @% n0 T& S5 h* xB. decrease # S# P8 o) l1 P
C. is eliminated
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