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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点, e1 X& a) X# L \6 W* v9 o; M/ Z
Learning Outcome Statements (LOS) * y- K( }" {. T5 x: Q# u& C( U
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: W( \ p- ?6 Y. o z6. 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:
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登录回复后可见：答案和详解2 l/ E/ E, m$ c0 z
Answer：A
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7. Consider the following data for a firm operating in perfect competition.1 r; F/ o% f" p) I
0 v3 y4 W% I! e! cThe firm’s profit-maximizing output ( in units) is most likely: " I3 u( ^! E7 N" H
A. 21 9 l, Z) e. U3 c( k
B. 23
, m1 g" I+ W& I& c5 ~8 L( y- KC. in excess of 24 5 _' v+ C6 Z: J8 r& u/ q* I
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8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
" G) ?. V8 _+ A3 B2 x) }3 ZA. HHI is a useful measure of potential barriers to entry
4 A1 U, |" G: p; TB. Low control over prices is characteristic of oligopolies
+ I* w2 q" c& J6 y f( qC. An HHI value of 0.006 indicates that a market is highly competitive/ v. m2 z* e! j6 s' T( w
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. 6 |7 [! b$ J9 [
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. ( a# W' [9 ~- Q
B is incorrect; oligopolies have highly control over prices.
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$ W1 T; M( c8 j9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand? 7 E$ J" p$ `- Q6 b' b8 b
A. Price decreases
/ P6 \3 ^! v4 _- r+ m( ]; TB. Firms incur economic losses
4 v+ \) a3 r' v8 o7 ]/ \( d# RC. The number of firms decrease
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0 z! ?+ q0 }1 ^ V: N2 F- f8 o10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in: - u: b# y& V3 r! s6 n
A. Both output and prices ! w5 }# N- p8 z: C
B. Output and a decrease in prices % p& b- ?1 U6 a6 p! b: H4 h
C. Prices and a decrease in output
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1 L* Z! K3 w+ n& n3 J! u6 B( n/ \更多CFA习题可关注：高顿CFA题库.) o/ p; w' j# S9 S( \ X* j: f
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发表于 2016-3-8 09:52:07
