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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
A: r+ Z" V- X ^Learning Outcome Statements (LOS)
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6. The following equations have been developed for a company:% i+ @5 ?2 U5 h1 \; V# S( t
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The profit maximizing output for this firm (in units) is closest to: - _$ G# L; c7 {* N: e
A. 7
$ t5 z$ ?( ]- L: h6 @! w1 P! XB. 8
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8 z& G+ k/ p6 L3 J; i; ^登录回复后可见：答案和详解$ H+ ^0 [! {' c$ F
Answer：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: , P: p+ Q" p0 D' C$ A5 n* z
A. 21
% j# s( C4 v7 b+ p0 n" wB. 23
3 X5 I2 Q- F1 h EC. in excess of 24 $ x( s/ ]6 D9 T( ?
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* H; w- Y! B/ k: z; i4 y8. Which of the following statements concerning market structure and Herfindahl-Hirschman Index (HHI) is most accurate?
( U$ @* p0 v* r- a( dA. HHI is a useful measure of potential barriers to entry & R9 Z7 d$ V# _. M W$ D- I
B. Low control over prices is characteristic of oligopolies
6 E( d T4 d9 iC. An HHI value of 0.006 indicates that a market is highly competitive+ l0 b% G$ h4 x: A, L
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.
( |- d5 v& N$ q% V d# Z# HA is incorrect; HHI does not take the possibility to entry into account, so it’s not a useful measure of potential barriers to entry.
# Q0 \& F) D5 s3 b7 s7 V+ oB 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?
1 c1 H& n6 a( }# pA. Price decreases
( J; B2 l' F2 s1 qB. Firms incur economic losses 3 i8 P% Q( w# }* g9 Q. J8 h
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: + ^9 ], H4 y; x5 @
A. Both output and prices
% H0 e" f ]4 x4 G( W# HB. Output and a decrease in prices
5 p3 T# g1 q: T# mC. Prices and a decrease in output
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发表于 2016-1-27 09:59:00
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