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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点) G; p! y1 Q Y$ d3 e
Learning Outcome Statements (LOS) , n% `7 e# u) Z5 E
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6. The following equations have been developed for a company:
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The profit maximizing output for this firm (in units) is closest to: / x: E' ~5 N7 g4 i
A. 7
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C. 11
$ G1 u4 n1 H3 a5 w* }/ U/ j登录回复后可见：答案和详解
( Y! o. _& I, ^Answer：A
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7. Consider the following data for a firm operating in perfect competition.- D7 Z7 H/ Y) R" ]" b/ x S
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The firm’s profit-maximizing output ( in units) is most likely: + @1 u( t3 B6 x$ J9 r& C& S! g
A. 21
7 s8 S0 D) L$ ^9 M- V' jB. 23
# {% ~3 S( R" t% }- jC. in excess of 24
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8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
" \; E) I2 e$ bA. HHI is a useful measure of potential barriers to entry * E0 w6 U* P) {! [
B. Low control over prices is characteristic of oligopolies
' O0 w i; y- X2 H* Z9 v9 c& T% EC. An HHI value of 0.006 indicates that a market is highly competitive
4 a, I5 Z' B9 d, LAnswer：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. ) z5 ?, m$ f3 x5 c( ^3 l4 m
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.
) r$ w6 p0 b9 X# ^3 G( X3 a' m6 mB is incorrect; oligopolies have highly control over prices. + |7 i- ?/ J$ c7 B
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9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand? 5 l8 Q7 ~ F( n9 k5 Q' U# ^
A. Price decreases ! i, z( T! U/ {) O0 z7 A! T- `
B. Firms incur economic losses
1 D B! X! @+ ? YC. The number of firms decrease
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+ i- M, a. J: f* K2 w* B9 O! U10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in:
, P$ T4 o7 W4 T/ ZA. Both output and prices 0 ]( O! O. G8 d* z5 @
B. Output and a decrease in prices
" K% B7 G- i4 Q! IC. Prices and a decrease in output
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发表于 2019-9-26 04:35:05
发表于 2016-1-27 09:59:00
