- CFA Exams
- 2022 Level I
- Study Session 3. Economics (1)
- Reading 9. The Firm and Market Structures
Seeing is believing!
Before you order, simply sign up for a free user account and in seconds you'll be experiencing the best in CFA exam preparation.
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 am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!

Barnes
My Own Flashcard
Add