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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
`' J# E' r# X1 o6 e" \( K8 w2 hLearning Outcome Statements (LOS) 4 d0 w+ {) o# Z8 X6 q
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6. The following equations have been developed for a company: F' j' k/ V8 n( s4 H$ Z1 T0 R' {
, `, s8 ?. n$ C+ JThe profit maximizing output for this firm (in units) is closest to: * H4 B" G7 F0 N
A. 7 % R5 B0 _' p9 f$ ?) s; m+ l, s. W
B. 8 & d5 O3 P" `- |7 i9 J
C. 11 ; n7 B/ P' _3 F. [/ N2 h
登录回复后可见：答案和详解
6 e8 b6 f4 u' Y3 mAnswer：A
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7 E& [: e% t' e( d; i t" @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: 9 p2 G8 v5 n. H l% |2 j
A. 21
/ J4 x( c) R+ i- q, q7 K* g# cB. 23 : a6 J2 P* g& ]9 |2 _+ f3 B p
C. in excess of 24 2 {* }% A. o. V9 I$ N
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3 g4 |7 l, \0 R$ [3 n8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
3 K. `" d& G5 M5 E3 @A. HHI is a useful measure of potential barriers to entry # t( F- z& H/ I
B. Low control over prices is characteristic of oligopolies
' w8 j! M; b4 o" cC. An HHI value of 0.006 indicates that a market is highly competitive
- Y. o! z1 B# p1 [. G# wAnswer：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.
" a8 d( M. y/ y- g0 ]. oA is incorrect; HHI does not take the possibility to entry into account, so it’s not a useful measure of potential barriers to entry.
. J6 i, p" p! d6 p- ]) u* X' ? GB is incorrect; oligopolies have highly control over prices. 7 r. j# u/ S4 {! b' ~) `
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2 w0 F% h! g: s) N' u9 j: \" q9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand? $ H& H% J- P3 I* K/ ~$ V, O3 R
A. Price decreases 8 `: Y( R, L% B, E" c1 K. P+ d5 v
B. Firms incur economic losses ; w: C, c' ]9 c5 F- p2 v; u
C. The number of firms decrease2 E% C6 G6 Q% R& z! ^2 q
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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: : A. h; R5 s2 j6 J+ d- r
A. Both output and prices
! r/ T8 v; [ R# ?, `& r: ^B. Output and a decrease in prices
+ a# h" r1 |2 ~2 }3 W, L/ m/ pC. Prices and a decrease in output
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, f! J& k" {4 f( ]: \更多CFA习题可关注：高顿CFA题库.
& a: X3 e' w \5 O" V! K `关注：这里是华尔街（ID:CFA-online）公众号，每天读点金融，离梦想近一点！" p/ a8 `* W* E% y3 p& S
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发表于 2016-1-27 09:59:00
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