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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
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6. The following equations have been developed for a company:
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; R5 d$ H- y; J: W, @The profit maximizing output for this firm (in units) is closest to: 0 N7 W4 o: w: O9 m9 G$ n
A. 7
4 c. r/ {5 i; ^3 e5 H8 I& F% {B. 8
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登录回复后可见：答案和详解
8 q' z+ r# h9 CAnswer：A% S& p) j) e$ c
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1 `7 J4 I5 @7 ~) r7. Consider the following data for a firm operating in perfect competition.# J% l6 c7 d# s& } u0 U1 a- Y
$ Y' f4 ?! _, Z+ v' E/ kThe firm’s profit-maximizing output ( in units) is most likely:
( a4 G1 f) O5 K# l2 QA. 21 2 F" x6 s# L6 z/ w# ^7 k2 A; M8 g4 D
B. 23
, K' \0 ?: {2 K2 R6 [/ {5 J( NC. in excess of 24 ( D0 Z) U5 P8 ^# c) K
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( |) a x0 c5 U$ Q8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate? + n d2 D$ U% J$ _" y0 G- h) w
A. HHI is a useful measure of potential barriers to entry
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C. An HHI value of 0.006 indicates that a market is highly competitive; J- k2 X L) P2 j0 G S
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. # ?4 H3 o( k; C9 s& L
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. - p: M. p: {1 R7 l, D
B is incorrect; oligopolies have highly control over prices. " T C+ w+ o3 S! @
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) B$ |0 s; M+ A( \) W$ Q9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand?
8 y8 U( p" v$ a; e& H6 |A. Price decreases ! j$ P$ _' B s- g: }( g" K
B. Firms incur economic losses
7 Z( e; V6 v; C! O. j0 A* g$ @C. The number of firms decrease! n2 G5 r) R+ r, c- S- [$ C) R6 b. y
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: Z3 k, F' r+ N4 A1 N6 |# f) n10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in: 5 A$ }6 B9 p: f3 h
A. Both output and prices : A' p' M& i7 {* S. w7 S* M' h
B. Output and a decrease in prices
% m l0 h6 ~7 B- V7 l* M' hC. Prices and a decrease in output
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