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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点. r& X E% F6 P$ n, l. C
Learning Outcome Statements (LOS) 7 E+ S8 ?, }" V: q6 D
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6. The following equations have been developed for a company:0 r" q8 J! p- |8 ?6 u5 K2 h0 |
% Y: r8 M9 b7 r8 _$ KThe profit maximizing output for this firm (in units) is closest to:
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1 N1 r% e. F! d: r/ T+ G登录回复后可见：答案和详解. H9 w( k6 f' a9 X0 Q
Answer：A
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5 N% ?% \1 P" I" P B6 s7. Consider the following data for a firm operating in perfect competition.
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* g2 Q5 Z3 R1 }! E: ~ n: jThe firm’s profit-maximizing output ( in units) is most likely:
/ p5 q% a$ h/ [: a6 c) b& `& NA. 21 1 g4 p1 x0 [: h! G
B. 23 2 _& W. p. H' `! U0 ~7 X1 l
C. in excess of 24
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8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate? 7 J3 ^& S0 u! p* C+ _ J. u; U L; O
A. HHI is a useful measure of potential barriers to entry 7 u1 Q' g+ S7 t$ s: G
B. Low control over prices is characteristic of oligopolies s! S& T3 z* I6 K1 R
C. An HHI value of 0.006 indicates that a market is highly competitive
4 K8 u: w5 {2 m+ A/ vAnswer：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. 9 k6 q* f) t1 M9 n. _4 M
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. ) h, K r' C8 d. i3 i
B is incorrect; oligopolies have highly control over prices.
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9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand?
6 v- G: ~, U! _/ c# h& cA. Price decreases |) @6 @4 e; z0 J/ ]
B. Firms incur economic losses
3 }& H( }- ^$ T4 f1 @C. The number of firms decrease' R! e# B% l/ g
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- s' r4 l, y4 W+ ?10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in:
6 ?: f6 A9 ]! p1 \9 t; Z- tA. Both output and prices # s. F: S/ t' ~
B. Output and a decrease in prices 7 G% Q1 ^8 f: p+ ~
C. Prices and a decrease in output, D% q) P1 i4 V- L5 Z
0 f5 w( _; _) ^7 {5 Y* u) T更多CFA习题可关注：高顿CFA题库.0 i5 c9 i" ~8 [1 t w4 t
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