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本帖最后由 一起学CFA 于 2016-1-26 10:28 编辑 % E8 o6 w1 `, H
+ R. v+ h: J0 V9 [% O) O0 SCFA Level I:Economics - The Firm and Market Structures 精选题和学习要点
. ?5 }# N" \1 MLearning Outcome Statements (LOS) ; l9 @7 R& m+ l \$ o
a Describe the characteristics of perfect competition, monopolistic competition, oligopoly, and pure monopoly;
. P4 Y, P2 n H wb Explain the relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; ' I7 E# L7 M+ P& u5 A
c Describe the firm’s supply function under each market structure; 1 M# Q; y4 a# f) | P: z
d Describe and determine the optimal price and output for firms under each market structure;# U9 w# }8 W$ T" _
e Explain factors affecting long-run equilibrium under each market structure;
6 Y3 Q$ V/ N# B+ l% I i, ef Describe pricing strategy under each market structure; 4 O$ d2 I2 {4 W! g+ b
g Describe the use and limitations of concentration measures in identifying; - n$ _0 d7 m" G; I
h Identify the type of market structure a firm is operating within;
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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: 7 I( P: F4 _+ O2 |) @1 v8 z
A. an oligopoly 1 {! d4 A9 }# l z
B. perfect competition
1 _( ?% d( n7 I! U5 y2 b& xC. monopolistic competition ! G. P. A8 u, B& N7 u0 v
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Answer:B+ o1 v+ O8 s+ z) B
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' D% x" D j8 v3 \. J! Z2. 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:
6 G. X7 u4 R1 YA. a monopoly ' p% F7 l% k3 l4 C) \0 p* b
B. perfect competition . v* S' }0 J0 D$ H
C. monopolistic competition 9 L. C+ ]& V. p" b, X
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3. The least likely reason why a firm in perfect competition is a price taker is because: ^9 V4 f# U3 b" [7 u! w6 Y
A. buyers are well informed about prices of other firms
& d2 E$ [( m2 h1 ^* s" mB. it can set its product’s price at or above the market price
6 E9 K, l) G& o' wC. it produces a very small portion of the total output of a particular good ( Q- c' I+ E) G. W
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3 m: B Q, U+ R4. For a firm in perfect competition, as output increases the marginal revenue will most likely:
# P7 P# B% U# y0 n, f: [! s. FA. increase
/ ~2 P6 E4 }' g! G7 V- tB. decrease % J* {/ T: W: W
C. remain constant 4 a1 K0 [7 L$ E* a
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( U+ G6 f: T! t: [6 H2 w% J5. First degree price discrimination is best described as pricing that allows producers to increase their economic profit while consumer surplus: $ B- s0 ]. t! J( m3 s V- P
A. increase * a; _+ e5 D- X/ c) I2 `; S
B. decrease
% S- j: C3 a$ C6 l# ]) f$ LC. is eliminated . d6 \6 W: g R: A! y
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