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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
4 N6 Y1 G' n5 K" x4 q6 v( ALearning Outcome Statements (LOS)
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6. The following equations have been developed for a company:
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/ L, f6 |6 ]2 h/ m+ ?; Y" e# d( TThe profit maximizing output for this firm (in units) is closest to:
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登录回复后可见：答案和详解+ q+ c& ^* M$ U+ l+ E" t
Answer：A" }2 }3 ]4 p. e; S6 K9 R; c/ X' `. a
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6 T8 @ j3 e! r9 u0 \9 w7. Consider the following data for a firm operating in perfect competition.5 S( i4 h2 C* O7 ~
8 w2 n% H; ^3 c$ QThe firm’s profit-maximizing output ( in units) is most likely:
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C. in excess of 24 1 a' y9 `' G7 `( P/ H. `
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5 ~" L% c7 D0 C b$ C- r8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate? 4 [) `7 n1 ^1 @! U" m
A. HHI is a useful measure of potential barriers to entry ! q9 `! h: Z/ A( C) S5 t' d
B. Low control over prices is characteristic of oligopolies ! D, q ^1 ]! h" r
C. An HHI value of 0.006 indicates that a market is highly competitive9 Q, g" m6 d8 s" @& Q
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. & M) y. { [3 F- q+ {* I
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. 1 Z0 c" t) H: l, A
B is incorrect; oligopolies have highly control over prices. * O$ y3 R2 }- Z J) {+ E
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3 w4 H# H, K* a* P' F' v/ h/ b) f7 q7 v9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand?
# v5 z: ~+ i; CA. Price decreases " @ r( T0 p- Y& f+ b
B. Firms incur economic losses + B1 N' e. g" H0 {' @+ d
C. The number of firms decrease) j1 S; w1 Q. i. T
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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:
9 \" h% |* x7 f" b4 w% aA. Both output and prices ! G% |$ M9 r6 V8 W2 C$ m
B. Output and a decrease in prices
. n5 o' w7 E# ]6 |( LC. Prices and a decrease in output
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