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CFA Level I：Economics - The Firm and Market Structures 精选题和学习要点
# p6 |6 k# }' k1 E, bLearning Outcome Statements (LOS)
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6. The following equations have been developed for a company:8 q% l8 W8 ]; n. d+ n
2 s4 Y, R" |/ P8 J; ~The profit maximizing output for this firm (in units) is closest to:
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6 n/ H8 P( u# R7 o* L) x$ o登录回复后可见：答案和详解5 F/ A0 V- w) Q8 G0 M* e* W1 K
Answer：A
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7. Consider the following data for a firm operating in perfect competition." P* R+ r9 u& B% f1 \3 C9 M
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The firm’s profit-maximizing output ( in units) is most likely:
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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?
8 D' X" z3 f$ u. ?A. HHI is a useful measure of potential barriers to entry # r% R9 r5 z) j/ K
B. Low control over prices is characteristic of oligopolies " q5 ?4 B' D. f% f' ?5 ?
C. An HHI value of 0.006 indicates that a market is highly competitive
( q6 D. ^& j. D1 H. ^, U. CAnswer：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.
/ z9 I5 B/ r* r; z7 r6 i9 h% wA is incorrect; HHI does not take the possibility to entry into account, so it’s not a useful measure of potential barriers to entry.
" i r) p% G5 t8 mB is incorrect; oligopolies have highly control over prices. ; P8 j( ^. T4 L' |8 x
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9. In perfectly competitive industries, what is the most likely long-run effect of a permanent decrease in demand?
9 D( V; s# h2 _6 T+ d9 H& u, G JA. Price decreases . Z; e7 E% h. B9 T% i! n+ p
B. Firms incur economic losses
0 u+ T0 H+ j. a4 TC. The number of firms decrease
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% {. G4 x+ B+ e" [9 v10. As compared with acting independently, a group of oligopolistic companies operating with perfect cooperation will most likely experience an increase in: ' y% w. N# \( Y! ^
A. Both output and prices
& P* M2 a) k, M! k8 vB. Output and a decrease in prices
+ D# U5 W, t$ p# u. k# r# G7 R7 mC. Prices and a decrease in output$ o4 t) i2 T7 y& `: ?2 P
2 P6 `! i7 ^" n7 i更多CFA习题可关注：高顿CFA题库.
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