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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
2 n% x/ C8 \$ eLearning Outcome Statements (LOS)
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7 W# }$ P: U" A4 V$ {6. The following equations have been developed for a company:
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. s# _6 F( b# Y1 F( uThe profit maximizing output for this firm (in units) is closest to: z6 f6 o- Y$ K! f7 l
A. 7
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C. 11 6 o7 Y3 m. Y9 e; ]
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Answer：A
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7. 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: & d( T3 Z1 b, o
A. 21 * L5 \# N$ C9 k' o0 k3 I( Z5 M$ m/ x
B. 23 + F0 F" R0 F/ N I6 @3 J
C. 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? 0 |8 Z1 E4 Q% `* V
A. HHI is a useful measure of potential barriers to entry X+ k# h& H/ c. _6 }% M
B. Low control over prices is characteristic of oligopolies
& W! F6 a- ]7 b5 q: ~6 X- XC. An HHI value of 0.006 indicates that a market is highly competitive- @& s, }: y4 q1 W. C G9 m( e! ?. r
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. e* O; r1 @$ z
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. 3 I2 f) }$ l9 _9 N: s
B is incorrect; oligopolies have highly control over prices. # I, t7 X/ @0 [& y8 T0 R3 t
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9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand? 7 O3 y! v: c& |0 K1 p9 r
A. Price decreases
7 H0 m6 K% A8 T" GB. Firms incur economic losses
/ V! I: K- ~; \3 S0 gC. The number of firms decrease
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$ ~2 l( W; p7 R/ R10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in:
C# Z$ c" P/ x! i2 h: {" DA. Both output and prices
4 y: @5 h- Z7 @9 vB. Output and a decrease in prices
2 `( \2 j" Y4 j: t. jC. Prices and a decrease in output& R! @, t D) ?) s1 f( U
$ [; j3 n+ k/ p O' A r更多CFA习题可关注：高顿CFA题库., \" L" P- ~: t5 n. T' G* d
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