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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点! \" ~! }* E" ? q
Learning Outcome Statements (LOS)
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6. The following equations have been developed for a company:9 B: x" R+ P) a4 k# x4 O
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The profit maximizing output for this firm (in units) is closest to: ( V+ S) p. a) y( _7 x5 u9 ?. ]" [
A. 7 % Q7 L, R* K8 A. s! y! p5 B; J
B. 8
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登录回复后可见：答案和详解
, i+ H+ O: r6 k( D) ZAnswer：A
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7. Consider the following data for a firm operating in perfect competition.
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The firm’s profit-maximizing output ( in units) is most likely:
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( F6 {* _/ m2 cB. 23 : o$ J: H8 _+ x4 D& v3 H6 M0 g4 L
C. in excess of 24
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( F# @& ]! ?+ J9 R8 V. c- X8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
3 F8 g% f2 |. w4 g3 L, jA. HHI is a useful measure of potential barriers to entry
9 C ]4 a$ i B' QB. Low control over prices is characteristic of oligopolies
& }, Y& a: O7 ? P/ j4 I eC. An HHI value of 0.006 indicates that a market is highly competitive. l( I r- ^9 g7 F2 ]$ D* Y
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. 2 U$ z/ B$ ~# Z0 F8 w
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.
$ Z2 y! X& f, {- L( _8 G2 dB is incorrect; oligopolies have highly control over prices. 8 f; |9 f0 {$ @/ ^3 n1 V* W' ~) O
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1 ~. P. d% [! ?+ Y5 c4 c9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand?
9 P9 \- e- U6 }8 z. WA. Price decreases # N8 [5 f# J0 _$ l( r* Q5 G
B. Firms incur economic losses ) M7 J: c$ V- {# [! h1 p
C. The number of firms decrease, I6 S9 j# ?1 g
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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: ; _& f2 c' @# _0 W
A. Both output and prices 7 C: ?) Q, [5 [1 e) p& `# H2 ^
B. Output and a decrease in prices 3 ]% _6 L1 f, ]+ z" i1 c8 L* D
C. Prices and a decrease in output- O8 r, M7 V* J0 W2 T2 \
1 L# D D9 }' i7 e9 I; Y. G$ {更多CFA习题可关注：高顿CFA题库.
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