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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
7 U6 v7 l3 ?& DLearning Outcome Statements (LOS) ' k, H5 ]2 w+ [4 \$ P/ |8 k1 Y
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6. The following equations have been developed for a company:; k. |4 R" ^$ D" j: G2 Q2 A
" Z$ E9 j: `; s' eThe profit maximizing output for this firm (in units) is closest to:
# S; R. }1 ?' x2 {A. 7 3 @$ z4 {3 ]6 P+ f! a
B. 8
/ ]& b& x3 R" F" ~6 Q7 Z/ _C. 11
* H2 a7 W: Z0 S. L9 _- z v" L1 e登录回复后可见：答案和详解
" \% _/ a( p! q7 e9 Q3 ?5 LAnswer：A
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7. Consider the following data for a firm operating in perfect competition.: f W( G! z- `
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The firm’s profit-maximizing output ( in units) is most likely:
) j- `* G8 A! d# _. u# \A. 21
# u2 Q, ^' K& z( }B. 23
; U* e0 @# g2 ~C. in excess of 24
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2 I# I6 J6 x2 R8 r' o8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
/ \5 _! {3 _5 r& E( C, ~A. HHI is a useful measure of potential barriers to entry
" p! Z' P, R1 \1 \( CB. Low control over prices is characteristic of oligopolies
3 t- h; k$ ^* v: ^, ~6 S5 ?( }& v" a* ZC. An HHI value of 0.006 indicates that a market is highly competitive ~. w' n: k; k
Answer：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. # q& u- R2 L9 x) c: D8 {5 A
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.
% D; ]6 }7 b0 b" T% kB is incorrect; oligopolies have highly control over prices. : @. z1 W, O$ r5 u
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( g& F/ k/ ^' j/ z. k: ~& }( A9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand? * j: R% R) m1 T: z1 L/ `
A. Price decreases
$ k' r6 T" S8 v' g/ Q! }0 J5 FB. Firms incur economic losses
$ _ V: O8 L0 z! v; RC. The number of firms decrease
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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:
1 {% b( R ^. O8 \, hA. Both output and prices 7 `' j& v) ^( c6 K2 t; v# F `
B. Output and a decrease in prices
. a; z5 f5 w& Q$ A( L) m( U+ ZC. Prices and a decrease in output% b# |8 B0 |. l' R( V
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发表于 2016-1-27 09:59:00
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