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CFA Level I:Economics - The Firm and Market Structures 精选题和学习要点
* {/ I" A# U ]& LLearning Outcome Statements (LOS)
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. T' }) G8 X3 k2 ]0 h6 s2 F6. The following equations have been developed for a company:
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% I; r8 `: r- o# YThe profit maximizing output for this firm (in units) is closest to:
* E' Y( v) G* l( Z* }3 G! a/ pA. 7
4 q2 U7 b( F* W7 m9 E' gB. 8
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登录回复后可见:答案和详解6 A, X! U* j0 u0 ?% d
Answer:A
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3 K# _. S/ q$ T7 }2 [, M% r4 V! f7. Consider the following data for a firm operating in perfect competition.
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0 h3 r; Q! q( b! y$ ]! a. F' fThe firm’s profit-maximizing output ( in units) is most likely:
5 x2 C8 \6 L9 N9 r5 t% r0 ZA. 21 % d+ H# J1 U6 g9 g3 [8 D# E# T
B. 23
s8 b1 ^: Y- f) yC. in excess of 24 4 y* ~5 d- @7 h- H K+ Y' {
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8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate? % X! G+ ~$ ^. v7 D3 r! r( f9 d
A. HHI is a useful measure of potential barriers to entry
( @4 |, M3 y2 M' a; R! ^) H$ BB. Low control over prices is characteristic of oligopolies % q& y9 `( U; O0 h# k7 F3 _
C. An HHI value of 0.006 indicates that a market is highly competitive# i/ D/ }3 t8 k! X% V! z# M
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.
; O0 ]& f3 k* IA is incorrect; HHI does not take the possibility to entry into account, so it’s not a useful measure of potential barriers to entry.
5 C P" A4 v7 G% ]. q0 uB 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? ( j8 }$ w; B( m+ S; O1 D8 f
A. Price decreases
6 P6 D4 b$ f! r7 ~: \/ HB. Firms incur economic losses
1 `9 ^. u: @. f5 @: r* V: n3 Q' yC. 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: , ~" q1 g. l* I# p
A. Both output and prices
: O2 o+ m8 M; b& \/ N4 }B. Output and a decrease in prices
9 [( A9 u# x3 {) m6 E, N9 oC. Prices and a decrease in output) K, G+ o* o7 p9 z, o; ^0 s
9 x- `; n/ |% ^1 h+ O更多CFA习题可关注:高顿CFA题库.
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