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本帖最后由 一起学CFA 于 2016-1-26 10:28 编辑
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CFA Level I:Economics - The Firm and Market Structures 精选题和学习要点
; D- I0 m% P1 _+ M. ULearning Outcome Statements (LOS)
& }! g& @: P9 @: Ja Describe the characteristics of perfect competition, monopolistic competition, oligopoly, and pure monopoly;
/ k4 U) H+ R) j" g4 \6 gb Explain the relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; / e0 C" Y7 H. z3 S9 V1 r& z# u
c Describe the firm’s supply function under each market structure;
9 v- ^; B* h( @# Td Describe and determine the optimal price and output for firms under each market structure;/ r. @0 d6 j4 Z/ ?9 i
e Explain factors affecting long-run equilibrium under each market structure;
/ p9 |, z9 |( D: X# C% n3 O& jf Describe pricing strategy under each market structure;
( |1 P6 Y7 F0 y- }7 cg Describe the use and limitations of concentration measures in identifying;
7 e" v& g: A" n. r& r0 wh Identify the type of market structure a firm is operating within;2 f' E& j6 C* N$ l3 v/ s
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1. If the minimum efficient scale of a single producer is small relative to the demand for an undifferentiated good, the market structure of the producer is best described as being:
& y1 H0 O' [1 W, R4 UA. an oligopoly
0 z, s. ?) H$ W, \5 s% @B. perfect competition
6 W$ P) F, d5 x% tC. monopolistic competition
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# P5 F7 [: {1 xAnswer:B
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$ l5 p- ^5 ?/ M% v1 R5 K2. Successful product development, advertising, and the creation of brand names are most likely to have a positive impact on the economic profit of the producer under:
, [% ?( T' q7 x8 U3 AA. a monopoly + @ x9 v7 i3 ^0 w2 l
B. perfect competition
# Y! [( q4 ?" G$ E0 V& t) `+ v+ UC. monopolistic competition ; k# C: Z( v Y% f2 ]
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3. The least likely reason why a firm in perfect competition is a price taker is because:
9 N' R+ v$ Z! d' @, N5 VA. buyers are well informed about prices of other firms 0 g# Z4 K& k9 w% S& H. z# Y
B. it can set its product’s price at or above the market price , |& L* @) f l t! }2 L
C. it produces a very small portion of the total output of a particular good
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' ]; X5 {2 ^8 \7 t7 ^" I2 i4. For a firm in perfect competition, as output increases the marginal revenue will most likely:- c: _5 F$ ^% b3 d
A. increase
& k% r( S: R' t$ t8 K F# t, nB. decrease
4 S1 z' Q: f- g$ z, N/ B3 gC. remain constant
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7 [7 [ ~+ p5 I" A/ O6 _- f4 w8 S5. First degree price discrimination is best described as pricing that allows producers to increase their economic profit while consumer surplus:
5 A. Q0 S! e4 r m$ Z oA. increase ! [: a2 M% D* z& o9 M1 I5 ?; u
B. decrease ( J4 Q7 I' M3 \7 ^! n
C. is eliminated ; ~2 d5 _! o' U
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