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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
0 X( q2 [& U' o' G W$ ELearning Outcome Statements (LOS) " I' |& [2 ^/ Z7 ^
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6. The following equations have been developed for a company:& v& V0 C: s9 J1 L
* q, W4 ` \. c: J2 LThe profit maximizing output for this firm (in units) is closest to: 6 t# w/ F+ s, p" k+ c s
A. 7 ' b$ z$ M, ]+ g8 w0 q" b
B. 8
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# `8 g9 s$ m7 e1 }登录回复后可见：答案和详解
, `0 C8 d- U3 C- r8 qAnswer：A7 F' j4 {8 W0 _) K. ~. j* x
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7. Consider the following data for a firm operating in perfect competition.
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6 x: g- q+ e5 W5 j/ }% \The firm’s profit-maximizing output ( in units) is most likely: 4 O0 J- j6 Z' C; c5 H1 L8 R+ `9 O, O
A. 21 * |3 C/ F* L" r( e7 ?
B. 23
( y0 c' u! _2 L! D: D# `C. in excess of 24
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3 L6 t1 k* e+ w. ]1 U$ G) L- T! g; N5 z
* |& p- e/ m3 Z8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
* F3 k, r6 G( C. Y# b; zA. HHI is a useful measure of potential barriers to entry
! e7 V/ W7 w8 E9 i, j" ]; O# L2 |B. Low control over prices is characteristic of oligopolies
0 a# ?# P5 v$ b m2 [( kC. An HHI value of 0.006 indicates that a market is highly competitive
' j% L3 L' u/ yAnswer：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.
5 n1 }2 ^. |' ]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.
) f; h( D, r3 x) T" a/ n, G% uB is incorrect; oligopolies have highly control over prices.
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/ H, M/ Q2 A6 M0 y6 ]% s% C9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand? . s1 J! ?; r! h4 c" ^
A. Price decreases
1 _7 w$ M% o4 g$ A( v/ WB. Firms incur economic losses 3 ]1 f; L) V% T0 A% j: W
C. The number of firms decrease4 J7 q) K- r/ a, o
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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:
5 ~5 }$ i" h1 N WA. Both output and prices , T+ U e4 t3 N8 j
B. Output and a decrease in prices
% z. |: w" d" J4 cC. Prices and a decrease in output
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- u' T" ~4 X: e# q更多CFA习题可关注：高顿CFA题库.% ]7 D7 N' W9 o! h$ w0 \7 L
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