CFA Level I：Economics 精选题（31 - 35）

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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
Learning Outcome Statements (LOS)
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6. The following equations have been developed for a company:
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The profit maximizing output for this firm (in units) is closest to:
A. 7
B. 8
C. 11
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Answer：A
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/ L" u* b- p& P, y) B# J7. 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:
A. 21
$ f9 h# A" H; q1 lB. 23
6 y6 c2 g. ~  y( E) [/ qC. in excess of 24      

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8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
' o7 E' R& ~' f+ JA. HHI is a useful measure of potential barriers to entry
B. Low control over prices is characteristic of oligopolies
1 u& Q" N# E) I2 v3 AC. An HHI value of 0.006 indicates that a market is highly competitive
, f2 M' Q, Z6 z0 {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.
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.
B is incorrect; oligopolies have highly control over prices.  


9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand?
A. Price decreases
; Q: Z3 u" y, A6 G! qB. Firms incur economic losses
C. The number of firms decrease

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! @( J' \' h  l7 I$ V6 l5 p10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in:
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B. Output and a decrease in prices
! L- I7 t5 d8 z0 ~C. Prices and a decrease in output
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