- CFA Exams
- Level I 2020
- Study Session 4. Economics (1)
- Reading 13. The Firm and Market Structures
Why should I choose AnalystNotes?
AnalystNotes specializes in helping candidates pass. Period.
Learning Outcome Statements PDF Download
| 1. Characteristics of Different Market Structures a. describe characteristics of perfect competition, monopolistic competition, oligopoly, and pure monopoly; | |
| 2. Perfect Competition b. explain relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; c. describe a firm's supply function under each market structure; d. describe and determine the optimal price and output for firms under each market structure; e. explain factors affecting long-run equilibrium under each market structure; | |
| 3. Monopolistic Competition b. explain relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; c. describe a firm's supply function under each market structure; d. describe and determine the optimal price and output for firms under each market structure; e. explain factors affecting long-run equilibrium under each market structure; | |
| 4. Oligopoly b. explain relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; c. describe a firm's supply function under each market structure; d. describe and determine the optimal price and output for firms under each market structure; e. explain factors affecting long-run equilibrium under each market structure; | |
| 5. Monopoly b. explain relationships between price, marginal revenue, marginal cost, economic profit, and the elasticity of demand under each market structure; c. describe a firm's supply function under each market structure; d. describe and determine the optimal price and output for firms under each market structure; e. explain factors affecting long-run equilibrium under each market structure; | |
| 6. Price Discrimination f. describe pricing strategy under each market structure; | |
| 7. Identification of Market Structure g. describe the use and limitations of concentration measures in identifying market structure; h. identify the type of market structure within which a firm operates. |
I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu
My Own Flashcard
Add