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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点) @! {1 O1 Z) P) s$ g% |
Learning Outcome Statements (LOS) + K7 ^9 C9 q9 F5 n7 E
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' |9 w, w \# J* e& F6. 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:
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& n% R9 @- u3 G% e+ B; S+ T9 Y; u登录回复后可见：答案和详解
, ?. p4 M9 e, }3 Q+ wAnswer：A
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4 z, ]- J4 I3 Y( G) p7. Consider the following data for a firm operating in perfect competition.
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9 U. H4 \( k' l) }6 \The firm’s profit-maximizing output ( in units) is most likely:
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B. 23
, j. Z3 ]. U, z1 G/ i( t9 Z9 ~C. in excess of 24 ' i9 H/ [) i, v/ `
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* C0 a, P# c$ v- s7 q% d7 C0 `! D8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
$ d& o, T) z3 p1 D+ KA. HHI is a useful measure of potential barriers to entry ) L4 v4 ~- n1 X0 m9 M' ?9 p
B. Low control over prices is characteristic of oligopolies $ P: U2 ]6 ?; |4 R) D6 a5 @
C. An HHI value of 0.006 indicates that a market is highly competitive
2 D+ f' E8 E4 }4 m& y+ X6 J* U- QAnswer：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. / j& ?7 }- n" w' U& 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 f8 [" S. l' Z$ C3 A8 i& W
B 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? / `: J$ h* y/ S6 C
A. Price decreases ! h1 B4 D- X7 y+ D; p* V! M
B. Firms incur economic losses
8 `9 M1 a+ P6 i/ y/ U8 mC. The number of firms decrease7 Y) j% I( J9 q4 d# {
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6 o7 G2 @5 E% c/ k7 w: F& i: ?4 S10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in: 7 ]2 p2 \# b2 [# K; `
A. Both output and prices $ J# K$ ]. ~) `6 r" U: r
B. Output and a decrease in prices
# N' l$ ?; [ d" t0 Y9 H$ K! ?C. Prices and a decrease in output& J; s! H4 C5 l" B( o7 S2 f
/ l$ W* g# C8 o3 X& c+ c* f5 }更多CFA习题可关注：高顿CFA题库.
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