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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
6 ?; K8 Q+ C- iLearning Outcome Statements (LOS)
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5 T! O) A3 _ R4 |$ g6. The following equations have been developed for a company:' D C+ ~. s' h5 F
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The profit maximizing output for this firm (in units) is closest to:
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C. 11
4 d9 [1 k& h/ U& j- F" u登录回复后可见：答案和详解
2 t _" i: l! M( D) Q: BAnswer：A
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; W0 E9 N# w- _7 j7. Consider the following data for a firm operating in perfect competition.8 t: |6 l7 y+ \+ q, [
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The firm’s profit-maximizing output ( in units) is most likely: 8 O6 u, I. y8 g" T. m
A. 21
2 i8 F m% Q3 a6 L- qB. 23 ( v2 u$ Y& O: F* f/ t9 A
C. 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? & F# o7 A. y' \! f4 } I" @9 B9 o8 a
A. HHI is a useful measure of potential barriers to entry
" p" E5 q0 ?; p( W D* ~8 w$ UB. Low control over prices is characteristic of oligopolies 6 G( Y% }5 m/ X4 P
C. An HHI value of 0.006 indicates that a market is highly competitive
% X* q* Q% k% X7 XAnswer：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.
3 A; } v) Y" s7 }' @5 ^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.
7 |& v5 c! z. O. X- c; L% e+ s* R. FB is incorrect; oligopolies have highly control over prices.
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9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand? 0 ^8 [+ K$ Q @! I
A. Price decreases
% |7 w1 l& f; Y, CB. Firms incur economic losses
! k1 o9 `: k4 C6 F# tC. The number of firms decrease: Y0 p8 ], g+ k) l$ n& v
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7 V( _5 ?$ b% K7 G. i10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in: 1 Z1 o8 I0 G( Z' z7 Z
A. Both output and prices 2 M' f: E+ Y" w1 C, e. ~
B. Output and a decrease in prices
( {. L- w# A! B) |C. Prices and a decrease in output/ h: K" f; Q6 F$ z4 P/ }
3 X! O( A" y1 `- e: t# H- T更多CFA习题可关注：高顿CFA题库.$ l6 ?! D3 U; V
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