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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
4 J) ~7 w$ C8 S0 Z v: c6 I( XLearning Outcome Statements (LOS) ; F$ F4 r! d* j, j! m
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6. The following equations have been developed for a company:
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6 u m% b% J- w5 g2 b% bThe profit maximizing output for this firm (in units) is closest to:
, d( X4 f! @: A9 b$ lA. 7 # b! h9 K% ~& `. h- n+ {
B. 8
2 ?+ p( A* }9 H4 d- g" ^7 bC. 11
! W1 a' u {% j; D0 F登录回复后可见：答案和详解
8 u" B: X' p7 i4 [4 {6 }Answer：A
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5 i5 q4 k) F2 H; w8 G H+ }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: , P$ @2 D o/ m( [
A. 21
- j1 o' \( G! P. fB. 23 . T8 E9 ?2 n( ?3 U S6 h+ S& I! p
C. in excess of 24 ! ~/ F' i4 f0 e" }' f7 L$ U" X$ r
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( Q* q4 c( o9 k# G; K1 E8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
+ x; `9 |( v# N8 sA. HHI is a useful measure of potential barriers to entry
/ h. q4 ^/ v% h# X+ |$ ?B. Low control over prices is characteristic of oligopolies % a u9 {& R4 T7 ]; ~2 J
C. An HHI value of 0.006 indicates that a market is highly competitive
4 e$ q# x( `" V1 i" NAnswer：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.
9 _' Q1 k: D: PA is incorrect; HHI does not take the possibility to entry into account, so it’s not a useful measure of potential barriers to entry. % s6 G4 [7 a# I% E7 h: p
B is incorrect; oligopolies have highly control over prices. * x$ V4 u7 V4 }7 R$ o0 k& N
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9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand? ' A/ f! d) L0 t: y
A. Price decreases / K) q% N! V) j
B. Firms incur economic losses
8 Z" N$ V6 @2 wC. 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:
/ e, y, ^$ p9 f" bA. Both output and prices / l; Y8 i5 `5 w1 o/ W5 s, r
B. Output and a decrease in prices
2 }& T1 L7 ]. E) l3 `0 \5 e5 ?C. Prices and a decrease in output
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发表于 2016-1-27 09:59:00
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