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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
5 V( J" u0 |+ s: I& b& |+ mLearning Outcome Statements (LOS) 2 C7 P! A! \, m. Z5 m6 }# C
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6. The following equations have been developed for a company:- {! _6 R ]' s9 T, i
# l, d* ^, j- t2 {' l4 UThe profit maximizing output for this firm (in units) is closest to: 6 U! }' x/ j" y$ k$ ~
A. 7
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C. 11 3 I. F% u0 V/ _/ Z# K2 m
登录回复后可见：答案和详解
) V4 l. L7 B4 s4 P6 c+ fAnswer：A
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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:
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C. in excess of 24 : K$ z4 c1 R& P# q9 ~9 D5 Y( }
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$ Q9 A: `/ M6 g" @6 U8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
9 c: D T( @. B1 }- `' ZA. HHI is a useful measure of potential barriers to entry 2 |; E8 s }0 z9 K, w3 G
B. Low control over prices is characteristic of oligopolies ( q! o+ l5 o4 J
C. An HHI value of 0.006 indicates that a market is highly competitive
: V& q r: |7 h3 @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.
6 S- E( q" C# r3 ?6 [3 V2 }9 BA is incorrect; HHI does not take the possibility to entry into account, so it’s not a useful measure of potential barriers to entry.
! ]( }' e+ R# V: U* R$ a8 cB is incorrect; oligopolies have highly control over prices.
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7 O) B. q8 k* E0 y2 r; E$ `( U9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand? 8 I1 ?; Z' X" H/ }% y
A. Price decreases 5 ?% [% P" w; {( O( a
B. Firms incur economic losses
+ T8 n5 [; W% f# jC. The number of firms decrease- `; V$ q) W' M( J" F5 r
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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:
4 K' w9 {/ O3 E; N) oA. Both output and prices / g1 p6 P) q: r% z
B. Output and a decrease in prices " c2 D# I4 V, w, A& d: @0 E2 G
C. Prices and a decrease in output
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4 z/ W4 \* }% [, x6 v, E1 ]% q: v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！
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