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ID:345619
大小:88.50 KB
页数:25页
时间:2017-07-26
《公允价值的利率施行【外文翻译】》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、本科毕业论文(设计)外文翻译外文出处NewYorkCity外文作者AlfredM.King原文:FAIRVALUEFORRATEPURPOSESInconsideringfairvalueforratepurposesitisimportanttobearinmindthatthedeterminationoffairvalueisapartoftheprocessofdeterminingareasonablerateofcharge.Thecontentoffairvaluemaythereforedependlargelyonourconceptionofwhatcon
2、stitutesratereasonableness.Itwillaidtoaclearerdeterminationofthisintricateproblemifforthemomentweforget"fairvalue"andconcentrateourattentiononthefundamentalsofareasonablerateofcharge.By"reasonablerate"ashereusedwemeanthereasonablenessoftheratescheduleasawhole,andnottheadjustmentofthevarious
3、specificratesthatgotomakeupthecompleterateschedule.Itisthetotalpriceorcompensationcollectedfromthepublicforitsentireservice,ratherthanthepriceforanyparticularserviceorclassofservices.Areasonablerateofchargeinthissenseofareasonableratescheduleisaratethatgivesthecompanyreasonablecompensationf
4、ortheentireservicewhichitrendersthepublic.What,then,isreasonablecompensationinthecaseoftheappropriateandnormallysuccessfulpublicutilityenterprises?Reasonablecompensationishereequivalenttothenormalcostofproduction.Whatotherbasiscantherebeforthedeterminationofafairpriceinthecaseofavirtualmono
5、poly?Ifacommoditycanbefreelyandquicklyproduced,itsmarketpricewillfollowquitecloselyitscostofproduction.Thismustbeso,becauseundertheassumedconditionstherecouldbenoreasonforpayingmorethanthecostofproduction.Ifacommoditymaybefreelyproduced,butonlybyspeciallytrainedworkmen,alargefixedinvestment
6、,andgreatbusinessrisks,thecostofproductionwillstillinthelongruntendtolimitmarketprice.Itisclearthattheproductionofaparticularcommoditywillnotbepermanentlycarriedonunlessthepricereceivedcoversallthecostsofproduction.Underfreecompetitionitisalsoclearthatapricehigherthanthatnecessarytocoverspe
7、cialrisk,interest,profits,andoperatingexpenseswillbringnewcapitalintotheindustry,andthusbringthepricedowntothecostofproduction.Forafreelyproducedcommodity,therefore,apricethatdoesnotconformtocostofproductionisnotastableornormalprice.Inastaticsociety,with
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