【每日一练】CFA 一级（2015年）

Question：

Which characteristic is a firm least likely to exhibit when it operates in a market with a downward  sloping demand curve, many competitors, and zero economic profits in the long run? 
A. Differentiated product 
B. Low barriers to entry 
C. No pricing power 

Answer = C 
The characteristics of monopolistic competition include a large number of competitors, low pricing  power, and the production of differentiated products (through advertising and other non-price  strategies), but these still result in some pricing power. The ease of entry results in zero economic  profits in the long run. 

CFA Level I 
"The Firm and Market Structures," Richard G. Fritz and Michele Gambera 
Sections 2.1, 2.2, 4 

更多精彩：

CFA一级企业理财的学习策略

要进投行？是不是必须要考CFA！？