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Flashcard 149624416

Tags
#finance #yield-curve
Question
In Market Segmentation Theory of yield curve shape, financial instruments of different terms [are / are not] substitutable.
Answer
are not

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In Market Segmentation Theory of yield curve shape, financial instruments of different terms are not substitutable.

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Yield curve - Wikipedia, the free encyclopedia
because of the risk premium added by the risk of default from holding a security over the long term. The market expectations hypothesis is combined with the liquidity premium theory: Where is the risk premium associated with an year bond. <span>Market segmentation theory[edit] This theory is also called the segmented market hypothesis. In this theory, financial instruments of different terms are not substitutable. As a result, the supply and demand in the markets for short-term and long-term instruments is determined largely independently. Prospective investors decide in advance whether they need short-term or long-term instruments. If investors prefer their portfolio to be liquid, they will prefer short-term instruments to long-term instruments. Therefore, the market for short-term instruments will receive a higher demand. Higher demand for the instrument implies higher prices and lower yield. This explains the stylized fact that short-term yields are usually lower than long-term yields. This theory explains the predominance of the normal yield curve shape. However, because the supply and demand of the two markets are independent, this theory fails to explain the observed fact that yields tend to move together (i.e., upward and downward shifts in the curve). Preferred habitat theory[edit] The preferred habitat theory is another guide of the liquidity premium theory, and states that in addition to interest rate expectations, investors have di







Flashcard 150916530

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
we represent a consumer 's equilibrium bundle of goods, the most preferred affordable combination of Good X and GoodY, as the point where the highest attainable indifference curve is just tangent to the [...].
Answer
budget (constraint) line

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dy>we represent a consumer 's equilibrium bundle of goods, the most preferred affordable combination of Good X and GoodY, as the point where the highest attainable indifference curve is just tangent to the budget line.<body><html>

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Para Maria Sylvia Zanella Di Pietro , os agentes públicos dividem-se em 4 categorias: 1. [...] ; 2. [...] ; 3. [...] ; e 4. [...] .
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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Normal profit is the accounting profit that makes economic profit zero.
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Flashcard 150917836

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] is the accounting profit that makes economic profit zero.
Answer
Normal profit

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Normal profit is the accounting profit that makes economic profit zero.

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Flashcard 150917842

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Normal profit is the accounting profit that makes [...] profit zero.
Answer
economic

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Normal profit is the accounting profit that makes economic profit zero.

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Flashcard 150917848

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Normal profit is the accounting profit that makes economic profit [...].
Answer
zero

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Normal profit is the accounting profit that makes economic profit zero.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Normal profit is the accounting profit that the firm must earn to just cover implicit opportunity costs.
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Flashcard 150917861

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Normal profit is the [...] profit that the firm must earn to just cover implicit opportunity costs.
Answer
accounting

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Normal profit is the accounting profit that the firm must earn to just cover implicit opportunity costs.

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Flashcard 150917867

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Normal profit is the accounting profit that the firm must earn to just cover [...].
Answer
implicit opportunity costs

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Normal profit is the accounting profit that the firm must earn to just cover implicit opportunity costs.

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Flashcard 150917873

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] profit is the accounting profit that the firm must earn to just cover implicit opportunity costs.
Answer
Normal

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Normal profit is the accounting profit that the firm must earn to just cover implicit opportunity costs.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
economic profit = (accounting profit - normal profit)
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Flashcard 150917883

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] = (accounting profit - normal profit)
Answer
economic profit

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economic profit = (accounting profit - normal profit)

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Flashcard 150917889

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
economic profit = ([...] - normal profit)
Answer
accounting profit

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economic profit = (accounting profit - normal profit)

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Flashcard 150917895

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
economic profit = (accounting profit - [...] profit)
Answer
normal profit

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economic profit = (accounting profit - normal profit)

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
an economic profit of zero is what we expect in equilibrium . That's why economic profits are called abnormal profits.
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Flashcard 150917905

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
an economic profit of [...] is what we expect in equilibrium . That's why economic profits are called abnormal profits.
Answer
zero

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an economic profit of zero is what we expect in equilibrium . That's why economic profits are called abnormal profits.

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Flashcard 150917911

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
an economic profit of zero is what we expect in equilibrium . That's why economic profits are called [...] profits.
Answer
abnormal

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an economic profit of zero is what we expect in equilibrium . That's why economic profits are called abnormal profits.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
With reference to RideRight, economic profit is zero, and accounting profits are $50,000, so normal profit must be $50,000.
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Flashcard 150917921

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
With reference to RideRight, economic profit is zero, and accounting profits are $50,000, so normal profit must be $[...].
Answer
50,000

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With reference to RideRight, economic profit is zero, and accounting profits are $50,000, so normal profit must be $50,000.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Economic rent is used to describe a payment to a factor of production above its value in its next highest-valued use (its opportunity cost).
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Flashcard 150917931

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] is used to describe a payment to a factor of production above its value in its next highest-valued use (its opportunity cost).
Answer
Economic rent

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Economic rent is used to describe a payment to a factor of production above its value in its next highest-valued use (its opportunity cost).

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#cfa #economics #has-images

A perfectly inelastic supply curve, with elasticity value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand.

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Elasticity of Supply - Revisionguru
and, there are special cases of elasticity of supply. If elasticity is equal to one then the good will have unitary elasticity; meaning a percentage change in price will lead to an equal percentage change in the quantity supplied. <span>A perfectly inelastic supply curve, with a value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand. Elasticity of supply is equal to infinity when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero.




Flashcard 150917955

Tags
#cfa #economics #has-images
Question

A perfectly [...] supply curve, with elasticity value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand.

Answer
inelastic

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A perfectly inelastic supply curve, with elasticity value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand. </

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Elasticity of Supply - Revisionguru
and, there are special cases of elasticity of supply. If elasticity is equal to one then the good will have unitary elasticity; meaning a percentage change in price will lead to an equal percentage change in the quantity supplied. <span>A perfectly inelastic supply curve, with a value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand. Elasticity of supply is equal to infinity when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero.







Flashcard 150917961

Tags
#cfa #economics #has-images
Question

A perfectly inelastic supply curve, with elasticity value of [...], means that the quantity supplied doesn’t change irrespective of the level of demand.

Answer
zero

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A perfectly inelastic supply curve, with elasticity value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand.

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Elasticity of Supply - Revisionguru
and, there are special cases of elasticity of supply. If elasticity is equal to one then the good will have unitary elasticity; meaning a percentage change in price will lead to an equal percentage change in the quantity supplied. <span>A perfectly inelastic supply curve, with a value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand. Elasticity of supply is equal to infinity when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero.







#cfa #economics #has-images

Elasticity of supply is equal to infinity when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero.

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Elasticity of Supply - Revisionguru
ntage change in price will lead to an equal percentage change in the quantity supplied. A perfectly inelastic supply curve, with a value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand. <span>Elasticity of supply is equal to infinity when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero. Sponsored Links Pages Economics Economics AS Unit 1 The economic problem Needs and wants The economic problem Scarcity Opportunity cost Economic resources (factors




Flashcard 150917974

Tags
#cfa #economics #has-images
Question

Elasticity of supply is equal to [...] when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero.

Answer
infinity

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Elasticity of supply is equal to infinity when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero.

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Elasticity of Supply - Revisionguru
ntage change in price will lead to an equal percentage change in the quantity supplied. A perfectly inelastic supply curve, with a value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand. <span>Elasticity of supply is equal to infinity when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero. Sponsored Links Pages Economics Economics AS Unit 1 The economic problem Needs and wants The economic problem Scarcity Opportunity cost Economic resources (factors







Flashcard 150917980

Tags
#cfa #economics #has-images
Question

Elasticity of supply is equal to infinity when it is perfectly [...]; any decrease in price will lead to the quantity supplied falling to zero.

Answer
elastic

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Elasticity of supply is equal to infinity when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero.

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Elasticity of Supply - Revisionguru
ntage change in price will lead to an equal percentage change in the quantity supplied. A perfectly inelastic supply curve, with a value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand. <span>Elasticity of supply is equal to infinity when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero. Sponsored Links Pages Economics Economics AS Unit 1 The economic problem Needs and wants The economic problem Scarcity Opportunity cost Economic resources (factors







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
we can think of economic rent as the portion of a payment to a resource that does not increase the quantity supplied.
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Flashcard 150917993

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
we can think of economic rent as the portion of a payment to a resource that [...] the quantity supplied.
Answer
does not increase

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we can think of economic rent as the portion of a payment to a resource that does not increase the quantity supplied.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
When resources owned or otherwise employed by the firm generate economic rents, the firm earns economic profits as a result because total revenues exceed the sum of explicit and implicit costs.
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Flashcard 150918003

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
When resources owned or otherwise employed by the firm generate economic rents, the firm earns [...] as a result because total revenues exceed the sum of explicit and implicit costs.
Answer
economic profits

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When resources owned or otherwise employed by the firm generate economic rents, the firm earns economic profits as a result because total revenues exceed the sum of explicit and implicit costs.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Total revenue (TR) for any firm that charges a single price to all customers is calculated as price multiplied by quantity sold, or TR = P x Q.
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Flashcard 150918059

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] (TR) for any firm that charges a single price to all customers is calculated as price multiplied by quantity sold, or TR = P x Q.
Answer
Total revenue

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Total revenue (TR) for any firm that charges a single price to all customers is calculated as price multiplied by quantity sold, or TR = P x Q.

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Flashcard 150918066

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Total revenue (TR) for any firm that charges a single price to all customers is calculated as [...].
Answer
price multiplied by quantity sold, or TR = P x Q

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Total revenue (TR) for any firm that charges a single price to all customers is calculated as price multiplied by quantity sold, or TR = P x Q.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Average revenue (AR) is equal to total revenue divided by the quantity sold, or AR = TR/Q
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Flashcard 150918079

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] (AR) is equal to total revenue divided by the quantity sold, or AR = TR/Q
Answer
Average revenue

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Average revenue (AR) is equal to total revenue divided by the quantity sold, or AR = TR/Q

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Flashcard 150918085

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Average revenue (AR) is equal to [...]
Answer
total revenue divided by the quantity sold, or AR = TR/Q

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Average revenue (AR) is equal to total revenue divided by the quantity sold, or AR = TR/Q

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Marginal revenue (MR) is the increase in total revenue from selling one more unit of a good or service.
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Flashcard 150918099

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] is the increase in total revenue from selling one more unit of a good or service.
Answer
Marginal revenue (MR)

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Marginal revenue (MR) is the increase in total revenue from selling one more unit of a good or service.

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Flashcard 150918105

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Marginal revenue (MR) is the [...].
Answer
increase in total revenue from selling one more unit of a good or service

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Marginal revenue (MR) is the increase in total revenue from selling one more unit of a good or service.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
For a firm in a perfectly competitive market, all units are sold at the same price regardless of quantity, so that average revenue and marginal revenue are both equal to the market price, or AR = MR = price.
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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
For a firm in a perfectly competitive market, all units are sold at the same price regardless of quantity
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For a firm in a perfectly competitive market, all units are sold at the same price regardless of quantity, so that average revenue and marginal revenue are both equal to the market price, or AR = MR = price.

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Flashcard 150918119

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
For a firm in [...] market, all units are sold at the same price regardless of quantity
Answer
a perfectly competitive

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For a firm in a perfectly competitive market, all units are sold at the same price regardless of quantity

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Flashcard 150918125

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
For a firm in a perfectly competitive market, all units are sold at the same price regardless of quantity, so that average revenue and marginal revenue are both equal to [...].
Answer
the market price of a single unit sold, or AR = MR = price

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For a firm in a perfectly competitive market, all units are sold at the same price regardless of quantity, so that average revenue and marginal revenue are both equal to the market price, or AR = MR = price.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Firms operating under imperfect competition face downward-sloping demand curves. Unlike firms operating under perfect competition, firms in imperfect competition must decide what price to charge for their product. For this reason, firms that face downward- sloping demand curves are referred to as price searchers.
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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Firms operating under imperfect competition face downward-sloping demand curves.
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Firms operating under imperfect competition face downward-sloping demand curves. Unlike firms operating under perfect competition, firms in imperfect competition must decide what price to charge for their product. For this reason, firms that face

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Flashcard 150918139

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Firms operating under [...] face downward-sloping demand curves.
Answer
imperfect competition

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Firms operating under imperfect competition face downward-sloping demand curves.

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Flashcard 150918145

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Firms operating under imperfect competition face [...] demand curves.
Answer
downward-sloping

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Firms operating under imperfect competition face downward-sloping demand curves.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
firms in imperfect competition must decide what price to charge for their product. For this reason, firms that face downward- sloping demand curves are referred to as price searchers.
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Firms operating under imperfect competition face downward-sloping demand curves. Unlike firms operating under perfect competition, firms in imperfect competition must decide what price to charge for their product. For this reason, firms that face downward- sloping demand curves are referred to as price searchers.

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Flashcard 150918155

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
firms in imperfect competition must decide what price to charge for their product. For this reason, firms that face downward- sloping demand curves are referred to as [...].
Answer
price searchers

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firms in imperfect competition must decide what price to charge for their product. For this reason, firms that face downward- sloping demand curves are referred to as price searchers.

Original toplevel document (pdf)

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
To sell a greater quantity, price- searcher firms must decrease the price.
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Flashcard 150918165

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
To sell a greater quantity, price- searcher firms must [...] the price.
Answer
decrease

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To sell a greater quantity, price- searcher firms must decrease the price.

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