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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点7 @8 K5 Q* o! L( K# N1 L- n
Learning Outcome Statements (LOS) - C$ y; y- e$ d& J
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6. The following equations have been developed for a company:
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- w R D) g. J( \$ T0 U" KThe profit maximizing output for this firm (in units) is closest to:
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B. 8
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登录回复后可见：答案和详解
! l! i+ J( t& C7 N$ U* {& R5 ~& kAnswer：A! M( S# A6 D4 O; N9 D
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7. Consider the following data for a firm operating in perfect competition.& }6 o H+ ~: L: N C
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The firm’s profit-maximizing output ( in units) is most likely:
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C. in excess of 24
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. d4 f% H; c1 I6 s6 h0 J- |8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
/ H& ]& Y% T4 O, {. K/ n6 h+ ]7 P& IA. HHI is a useful measure of potential barriers to entry
* N5 e. V [: C: W: A% q4 D% ?" uB. Low control over prices is characteristic of oligopolies # a4 ]" n S3 L5 y6 g
C. An HHI value of 0.006 indicates that a market is highly competitive$ [' b: t7 f$ h1 O8 |- Z" R! j9 o) o
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 P5 x8 R0 D9 i8 h
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.
2 o2 Z |' n8 w9 U rB is incorrect; oligopolies have highly control over prices.
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) f+ Y) ^& k3 Q$ n9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand?
' I6 @$ u: t6 ?A. Price decreases
4 d& @+ h$ ~# I- F$ VB. Firms incur economic losses
+ h! D. Z" W: a0 H* N, K6 b4 oC. The number of firms decrease% J7 ]+ S+ h7 s5 ]
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, N, t! k9 C# J- j2 I0 Y10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in:
1 |3 ~( @. G! N: E6 aA. Both output and prices
* F* G: c; O- T) m1 WB. Output and a decrease in prices
7 A' ^3 U p3 X0 w# SC. Prices and a decrease in output6 z3 h) A4 m% Q! m( J: ?# q. e
" X7 K& d! p) x更多CFA习题可关注：高顿CFA题库.9 M( b0 e6 S6 q$ D" e, ]+ h
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