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本帖最后由 一起学CFA 于 2016-1-26 10:28 编辑 7 F$ K D0 Z/ ]
3 W- V- B7 g7 e% Y$ ?5 ICFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
) I8 p5 c* m; Y# [; c4 M; MLearning Outcome Statements (LOS) - P% P. ^. o9 G) _; B( T) l
a Describe the characteristics of perfect competition, monopolistic competition, oligopoly, and pure monopoly; " j" Y3 X# u' |
b Explain the relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure;
7 k9 x/ `4 o' v O0 Uc Describe the firm’s supply function under each market structure;
* l0 [* h: ]$ }- kd Describe and determine the optimal price and output for firms under each market structure;8 t) R3 U1 Y) S$ g: ? G. i
e Explain factors affecting long-run equilibrium under each market structure;
7 a$ [# R" u/ m- k9 ~0 tf Describe pricing strategy under each market structure; $ g% }4 c1 X1 I& P( N2 m
g Describe the use and limitations of concentration measures in identifying;
0 b) t$ ^ f) D2 q* @2 ]9 oh Identify the type of market structure a firm is operating within;( B' E" t9 e7 D6 @# L) i
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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:
) k4 M( P; x4 r' i& f7 HA. an oligopoly 5 E* M) N$ x$ L f6 D# r
B. perfect competition
! H! p$ O; J/ [- [; M% ~C. monopolistic competition
: D, S7 {$ m7 ]& E6 D登录回复后可见：答案和详解
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# i2 i9 z7 J, p7 YAnswer：B1 O. q: u, o! _8 L( x u2 K
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2. 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:
/ V8 I) K' i, ]0 AA. a monopoly ) T7 x# E) U! s- t3 g3 ?
B. perfect competition 4 H8 R5 c/ d& w# W7 p
C. monopolistic competition ' J; N8 E5 d" ~! T0 B% [, [
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3. The least likely reason why a firm in perfect competition is a price taker is because:& D3 u0 J$ d. k+ M$ o: p
A. buyers are well informed about prices of other firms , T0 } s9 Q! k- w
B. it can set its product’s price at or above the market price
+ ~" p) ~4 {5 M% m8 TC. it produces a very small portion of the total output of a particular good
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2 @6 P# `5 q6 ?6 _7 M( S3 h$ E4. For a firm in perfect competition, as output increases the marginal revenue will most likely: w! }3 }7 } K+ y; D
A. increase
. N. M9 }' s' iB. decrease : p9 j/ M" M' l8 n& S s
C. remain constant * J7 ^' M6 I, `+ T6 Q
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' c! ~" k+ K+ g' a& ^7 G+ h! i5. First degree price discrimination is best described as pricing that allows producers to increase their economic profit while consumer surplus:
+ z! p+ g4 [2 w' VA. increase
, O5 C' D }2 @8 W) N; J; p" vB. decrease
: d# @1 A+ {$ ^# tC. is eliminated # X3 h' A* P6 B0 J! }
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