Perfect Competition是CFA一级中的知识点，在备考CFA考试中你知道这个知识点吗？今天跟着融跃小编一起看看这个知识点需要掌握哪些？

1、特点

· A large number of independent sellers

· Each firm has relative small market share

· Each seller produces a differentiated product，product differentiation is the most distinctive factors.

· Firms compete on product quality price and marketing

· Firms are free to enter and exit.

· Firms in monopolistic competition face downward-sloping demand curves and the curves are highly elastic because competing products are perceived by consumers as close substitutes.

2、长期均衡和短期均衡

1）Short-run equilibrium：MR=MC.

Because the firm can charge the price determined by the demand curve

2）Long-run equilibrium output is still optimal at MR=MC.

Economic profit will fall to zero，P=ATC

3、在垄断竞争市场下赚取超额利润的方法

1）Innovation and product development

· Less-elastic demand curve earn economic profit

· Close substitutes and imitations will eventually erode the initial economic profit;look for innovative product features Continually.


2）Advertising

· High need for firms in monopolistic competition;

· Inform consumers about the unique features of the product;

· Advertising costs are greater and increase the ATC curve

· Output increase;

· If advertising leads to enough of an increase in output (sales) it can actually decrease a firm ’ s average total cost.

3）Brand names

· Provide information to consumer by providing them with signals about the quality of the branded product.

以上就是需要掌握复习的知识，那你在备考中是不是掌握了这些知识呢？这边有CFA课程可以帮助你理解知识，有需要可以看看融跃CFA课程，有什么想要了解可以在线咨询我们老师！