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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
' {& D+ |, m2 V* R/ M* ?! ?Learning Outcome Statements (LOS)
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6. 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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C. 11 3 S! E# W' p- H' A" V% _$ a
登录回复后可见：答案和详解
e- g. _8 V$ \2 FAnswer：A
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$ u# v* r/ B; o5 [! c: J7. Consider the following data for a firm operating in perfect competition.+ V9 O8 W% W8 Z: M/ O+ H6 b! q; n. i
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The firm’s profit-maximizing output ( in units) is most likely:
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C. in excess of 24 4 c9 A" _* T1 d4 R/ F8 ^
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8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate? ' M1 q3 w' b n0 E
A. HHI is a useful measure of potential barriers to entry ; h6 i0 T5 P8 {
B. Low control over prices is characteristic of oligopolies 8 g; Z* C) V' p% p# N& _
C. An HHI value of 0.006 indicates that a market is highly competitive
# \) Q1 ]1 ?$ l* U0 XAnswer：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.
0 Z5 l' y5 H3 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.
: M6 A5 @4 `7 WB is incorrect; oligopolies have highly control over prices.
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+ v: o) A* [$ k* ~* Z L" ^9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand?
9 Y8 p+ t4 s: s2 O8 Z2 j/ T/ gA. Price decreases + x+ R* a R& i4 W. h
B. Firms incur economic losses
- O6 S+ L$ Q; f' e# \# a D3 ~5 ?C. The number of firms decrease
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10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in:
1 S y, i$ a% b: R( V, _A. Both output and prices & w7 {- S2 ~9 |7 U6 @ {3 T
B. Output and a decrease in prices % ^* o- f, V; [7 L t
C. Prices and a decrease in output$ c3 h) H/ I) ]+ ?8 T
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