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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
( g' n9 N' a6 C7 h3 I& i1 `Learning Outcome Statements (LOS) - x: \# M* q4 L* I/ @- e- M- Q
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2 I }* Y; u! i. b$ s5 a( e9 m/ u6. The following equations have been developed for a company:9 h& B) C1 u) U1 z
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The profit maximizing output for this firm (in units) is closest to:
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C. 11 + @$ n+ o- m" k& i' H+ O; C
登录回复后可见：答案和详解$ C( `; x* `% o% [
Answer：A
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7. Consider the following data for a firm operating in perfect competition.
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The firm’s profit-maximizing output ( in units) is most likely: " I" P' K7 m# d. {* ]/ m
A. 21 3 L0 y" T& B9 |! D# g0 ?" K
B. 23
( R! n. n6 n" q2 L6 IC. in excess of 24 5 _" L3 | t# Y- g. z( h
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8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate? : `2 ^/ o3 x4 E5 e2 p
A. HHI is a useful measure of potential barriers to entry 5 _6 m" H$ ^+ k
B. Low control over prices is characteristic of oligopolies 6 R2 v! Q+ a% n2 |$ V
C. An HHI value of 0.006 indicates that a market is highly competitive
9 j, W* M. t& }, h( iAnswer：C; the HHI value of 0.006, which is very smaller, means that the concentration of this market is low, so it is highly competitive. 4 Z, l5 V5 L+ E; e% X4 s
A is incorrect; HHI does not take the possibility to entry into account, so it’s not a useful measure of potential barriers to entry.
( u5 @3 O4 F1 w1 E& s& iB is incorrect; oligopolies have highly control over prices.
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. J& [0 m( H' A( l; {9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand?
. f9 V" Y% `% r$ f' k2 c! d9 mA. Price decreases # G* e" [1 C7 f' v4 O7 ?
B. Firms incur economic losses
6 r7 _3 ]$ [. l& G. x& e4 FC. The number of firms decrease+ R i- M$ |1 v/ l! `! |- {( m
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10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in:
2 U |! P) y! aA. Both output and prices
0 a5 s$ |# z! SB. Output and a decrease in prices
- u6 e4 S% Y( v' \! E; {C. Prices and a decrease in output
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发表于 2016-1-27 09:59:00
发表于 2016-3-8 09:52:07
