- CFA Exams
- 2023 Level I
- Topic 2. Economics
- Learning Module 9. The Firm and Market Structures
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Learning Outcome Statements PDF Download
| 1. Characteristics of Different Market Structures describe characteristics of perfect competition, monopolistic competition, oligopoly, and pure monopoly; | |
| 2. Perfect Competition explain relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; describe a firm's supply function under each market structure; describe and determine the optimal price and output for firms under each market structure; explain factors affecting long-run equilibrium under each market structure; | |
| 3. Monopolistic Competition explain relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; describe a firm's supply function under each market structure; describe and determine the optimal price and output for firms under each market structure; explain factors affecting long-run equilibrium under each market structure; | |
| 4. Oligopoly explain relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; describe a firm's supply function under each market structure; describe and determine the optimal price and output for firms under each market structure; explain factors affecting long-run equilibrium under each market structure; | |
| 5. Monopoly explain relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; describe a firm's supply function under each market structure; describe and determine the optimal price and output for firms under each market structure; explain factors affecting long-run equilibrium under each market structure; | |
| 6. Price Discrimination describe pricing strategy under each market structure; | |
| 7. Identification of Market Structure describe the use and limitations of concentration measures in identifying market structure; identify the type of market structure within which a firm operates. |
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