. . . . . . . . . . . . . . . "De marginale effici\u00EBntie van kapitaal (Engels: marginal efficiency of capital) is de discontovoet, die de prijs van een eenheid vaste kapitaal-activa gelijk maakt aan de . De term \"marginale effici\u00EBntie van kapitaal\" werd ge\u00EFntroduceerd door John Maynard Keynes in zijn General Theory en door hem gedefinieerd als \"de discontovoet die de contante waarde van een reeks van annu\u00EFteiten, die wordt gegeven door het verwachte rendement van het kapitaalgoed tijdens zijn leven, precies gelijk maakt aan haar aanbodsprijs.\""@nl . . . "\u041F\u0440\u0435\u0434\u0435\u043B\u044C\u043D\u0430\u044F \u044D\u0444\u0444\u0435\u043A\u0442\u0438\u0432\u043D\u043E\u0441\u0442\u044C \u043A\u0430\u043F\u0438\u0442\u0430\u043B\u0430"@ru . "La eficiencia marginal del capital es la tasa de descuento que equiparar\u00EDa el precio de un activo de capital fijo con su valor actual descontado de los ingresos previstos. El t\u00E9rmino \u00ABeficiencia marginal del capital\u00BB fue acu\u00F1ado por John Maynard Keynes en su Teor\u00EDa general del empleo, el inter\u00E9s y el dinero, donde la define como \u00ABla tasa de descuento que har\u00EDa el de la serie de anualidades dadas por los rendimientos esperados de los activos financieros durante su vida exactamente igual a su precio de oferta\u00BB.\u200B"@es . "Marginale effici\u00EBntie van kapitaal"@nl . . . . "\uC790\uBCF8\uC758 \uD55C\uACC4\uD6A8\uC728(\u8CC7\u672C-\u9650\u754C\u6548\u7387, marginal efficiency of capital, MEC)\uC740 \uC5B4\uB5A4 \uC790\uBCF8\uC744 \uC0C8\uB85C \uD55C \uB2E8\uC704 \uCD94\uAC00\uD568\uC73C\uB85C\uC368 \uC5BB\uC5B4\uC9C0\uB294 \uC608\uC0C1\uC218\uC775\uB960, \uC989 \uADF8 \uC790\uBCF8\uC5D0 \uB300\uD55C \uD22C\uC790\uC758 \uC608\uC0C1\uC218\uC775\uB960\uC744 \uB9D0\uD55C\uB2E4. \uC774\uB97C\uD14C\uBA74 \uC774 \uC790\uBCF8\uC758 \uACF5\uAE09\uAC00\uACA9\uC744 R, \uC790\uBCF8\uC758 \uC874\uC18D\uAE30\uAC04 \uC911\uC5D0 \uC5BB\uC5B4\uC9C4\uB2E4\uACE0 \uC608\uC0C1\uB418\uB294 \uC218\uC775\uC758 \uACC4\uC5F4\uC744 Q1,Q2...Qn\uB85C \uD55C\uB2E4\uBA74 \uD55C\uACC4\uD6A8\uC728 m\uC740 \uC218\uC775\uACC4\uC5F4 Q1,Q2...Qn\uC758 \uD604\uC7AC\uAC00\uCE58\uB85C \uD558\uC5EC \uADF8\uC758 \uACF5\uAE09\uAC00\uACA9\uACFC \uAC19\uAC8C \uD558\uB294 \uD560\uC778\uC728\uC774\uB77C \uC815\uC758\uB41C\uB2E4. \uC774\uAC83\uC744 \uC218\uC2DD\uC73C\uB85C \uB098\uD0C0\uB0B4\uBA74 R = Q1/(1+m) + Q2/(1+m)^2 + ... ... + Qn/(1+m)^n\uC73C\uB85C \uB41C\uB2E4. \uAC01\uC885 \uC790\uBCF8\uC758 \uD55C\uACC4\uD6A8\uC728 \uAC00\uC6B4\uB370\uC5D0\uC11C \uCD5C\uB300\uC758 \uAC83\uC774 \uC790\uBCF8 \uC804\uBC18\uC758 \uD55C\uACC4\uD6A8\uC728\uC774 \uB418\uACE0, \uB530\uB77C\uC11C \uC774 \uD55C\uACC4\uD6A8\uC728\uACFC \uC2DC\uC7A5\uC774\uC790\uC728\uC774 \uAC19\uC740 \uC810\uC5D0\uC11C \uD22C\uC790\uB7C9\uC774 \uACB0\uC815\uB41C\uB2E4. \uC774 \uBB38\uC11C\uC5D0\uB294 \uB2E4\uC74C\uCEE4\uBBA4\uB2C8\uCF00\uC774\uC158(\uD604 \uCE74\uCE74\uC624)\uC5D0\uC11C GFDL \uB610\uB294 CC-SA \uB77C\uC774\uC120\uC2A4\uB85C \uBC30\uD3EC\uD55C \uAE00\uB85C\uBC8C \uC138\uACC4\uB300\uBC31\uACFC\uC0AC\uC804\uC758 \"\uC790\uBCF8\uC758 \uD55C\uACC4\uD6A8\uC728\" \uD56D\uBAA9\uC744 \uAE30\uCD08\uB85C \uC791\uC131\uB41C \uAE00\uC774 \uD3EC\uD568\uB418\uC5B4 \uC788\uC2B5\uB2C8\uB2E4."@ko . "De marginale effici\u00EBntie van kapitaal (Engels: marginal efficiency of capital) is de discontovoet, die de prijs van een eenheid vaste kapitaal-activa gelijk maakt aan de . De term \"marginale effici\u00EBntie van kapitaal\" werd ge\u00EFntroduceerd door John Maynard Keynes in zijn General Theory en door hem gedefinieerd als \"de discontovoet die de contante waarde van een reeks van annu\u00EFteiten, die wordt gegeven door het verwachte rendement van het kapitaalgoed tijdens zijn leven, precies gelijk maakt aan haar aanbodsprijs.\""@nl . . "La eficiencia marginal del capital es la tasa de descuento que equiparar\u00EDa el precio de un activo de capital fijo con su valor actual descontado de los ingresos previstos. El t\u00E9rmino \u00ABeficiencia marginal del capital\u00BB fue acu\u00F1ado por John Maynard Keynes en su Teor\u00EDa general del empleo, el inter\u00E9s y el dinero, donde la define como \u00ABla tasa de descuento que har\u00EDa el de la serie de anualidades dadas por los rendimientos esperados de los activos financieros durante su vida exactamente igual a su precio de oferta\u00BB.\u200B"@es . "\u041F\u0440\u0435\u0434\u0435\u043B\u044C\u043D\u0430\u044F \u044D\u0444\u0444\u0435\u043A\u0442\u0438\u0432\u043D\u043E\u0441\u0442\u044C \u043A\u0430\u043F\u0438\u0442\u0430\u043B\u0430 (\u0430\u043D\u0433\u043B. marginal efficiency of capital) \u2014 \u0441\u0442\u0430\u0432\u043A\u0430 \u0434\u0438\u0441\u043A\u043E\u043D\u0442\u0438\u0440\u043E\u0432\u0430\u043D\u0438\u044F, \u043F\u0440\u0438 \u043A\u043E\u0442\u043E\u0440\u043E\u0439 \u0446\u0435\u043D\u0430 \u0435\u0434\u0438\u043D\u0438\u0446\u044B \u043E\u0441\u043D\u043E\u0432\u043D\u043E\u0433\u043E \u043A\u0430\u043F\u0438\u0442\u0430\u043B\u0430 (\u043A\u0430\u043F\u0438\u0442\u0430\u043B\u044C\u043D\u043E\u0433\u043E \u0430\u043A\u0442\u0438\u0432\u0430) \u0440\u0430\u0432\u043D\u0430 \u043E\u0442 \u044D\u0442\u043E\u0433\u043E \u0430\u043A\u0442\u0438\u0432\u0430. \u0422\u0435\u0440\u043C\u0438\u043D \u00AB\u043F\u0440\u0435\u0434\u0435\u043B\u044C\u043D\u0430\u044F \u044D\u0444\u0444\u0435\u043A\u0442\u0438\u0432\u043D\u043E\u0441\u0442\u044C \u043A\u0430\u043F\u0438\u0442\u0430\u043B\u0430\u00BB \u0431\u044B\u043B \u0432\u0432\u0435\u0434\u0451\u043D \u0414\u0436\u043E\u043D\u043E\u043C \u041C\u0435\u0439\u043D\u0430\u0440\u0434\u043E\u043C \u041A\u0435\u0439\u043D\u0441\u043E\u043C \u0432 \u0435\u0433\u043E \u00AB\u041E\u0431\u0449\u0435\u0439 \u0442\u0435\u043E\u0440\u0438\u0438\u00BB. \u041A\u0435\u0439\u043D\u0441 \u043E\u043F\u0440\u0435\u0434\u0435\u043B\u044F\u043B \u044D\u0442\u043E\u0442 \u0442\u0435\u0440\u043C\u0438\u043D \u043A\u0430\u043A \u00AB\u0432\u0435\u043B\u0438\u0447\u0438\u043D\u0443, \u0440\u0430\u0432\u043D\u0443\u044E \u0442\u043E\u0439 \u043D\u043E\u0440\u043C\u0435 \u0434\u0438\u0441\u043A\u043E\u043D\u0442\u0430 (rate of discount), \u043A\u043E\u0442\u043E\u0440\u0430\u044F \u0443\u0440\u0430\u0432\u043D\u044F\u043B\u0430 \u0431\u044B \u043D\u044B\u043D\u0435\u0448\u043D\u044E\u044E \u0441\u0442\u043E\u0438\u043C\u043E\u0441\u0442\u044C \u0440\u044F\u0434\u0430 \u0433\u043E\u0434\u043E\u0432\u044B\u0445 \u0434\u043E\u0445\u043E\u0434\u043E\u0432, \u043E\u0436\u0438\u0434\u0430\u0435\u043C\u044B\u0445 \u043E\u0442 \u0438\u0441\u043F\u043E\u043B\u044C\u0437\u043E\u0432\u0430\u043D\u0438\u044F \u0432 \u0442\u0435\u0447\u0435\u043D\u0438\u0435 \u0441\u0440\u043E\u043A\u0430 \u0435\u0433\u043E \u0441\u043B\u0443\u0436\u0431\u044B, \u0441 \u0446\u0435\u043D\u043E\u0439 \u0435\u0433\u043E \u043F\u0440\u0435\u0434\u043B\u043E\u0436\u0435\u043D\u0438\u044F\u00BB."@ru . . . "The marginal efficiency of capital (MEC) is that rate of discount which would equate the price of a fixed capital asset with its present discounted value of expected income. The term \u201Cmarginal efficiency of capital\u201D was introduced by John Maynard Keynes in his General Theory, and defined as \u201Cthe rate of discount which would make the present value of the series of annuities given by the returns expected from the capital asset during its life just equal its supply price\u201D."@en . . . . "\u0627\u0644\u0643\u0641\u0627\u0621\u0629 \u0627\u0644\u0647\u0627\u0645\u0634\u064A\u0629 \u0644\u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644 (\u0628\u0627\u0644\u0625\u0646\u062C\u0644\u064A\u0632\u064A\u0629: Marginal efficiency of capital\u060C \u062A\u064F\u0639\u0631\u0641 \u0627\u062E\u062A\u0635\u0627\u0631\u064B\u0627 \u0628\u0640 MEC)\u060C \u0647\u064A \u0645\u0639\u062F\u0644 \u0627\u0644\u062E\u0635\u0645 \u0627\u0644\u0630\u064A \u0633\u064A\u0639\u0627\u062F\u0644 \u0633\u0639\u0631 \u0623\u0635\u0644 \u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u062B\u0627\u0628\u062A \u0645\u0639 \u0627\u0644\u0642\u064A\u0645\u0629 \u0627\u0644\u062D\u0627\u0644\u064A\u0629 \u0627\u0644\u0645\u062E\u0635\u0648\u0645\u0629 \u0644\u0644\u0625\u064A\u0631\u0627\u062F\u0627\u062A \u0627\u0644\u0645\u062A\u0648\u0642\u0639\u0629. \u062A\u0645 \u062A\u0642\u062F\u064A\u0645 \u0645\u0635\u0637\u0644\u062D \"\u0627\u0644\u0643\u0641\u0627\u0621\u0629 \u0627\u0644\u0647\u0627\u0645\u0634\u064A\u0629 \u0644\u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644\" \u0645\u0646 \u0642\u0628\u0644 \u062C\u0648\u0646 \u0645\u0627\u064A\u0646\u0627\u0631\u062F \u0643\u064A\u0646\u0632 \u0641\u064A \u0646\u0638\u0631\u064A\u062A\u0647 \u0627\u0644\u0639\u0627\u0645\u0629\u060C \u0648\u062A\u0645 \u062A\u0639\u0631\u064A\u0641\u0647 \u0639\u0644\u0649 \u0623\u0646\u0647 \"\u0645\u0639\u062F\u0644 \u0627\u0644\u062E\u0635\u0645 \u0627\u0644\u0630\u064A \u0633\u064A\u062C\u0639\u0644 \u0627\u0644\u0642\u064A\u0645\u0629 \u0627\u0644\u062D\u0627\u0644\u064A\u0629 \u0644\u0633\u0644\u0633\u0644\u0629 \u0627\u0644\u0645\u0639\u0627\u0634\u0627\u062A \u0627\u0644\u0633\u0646\u0648\u064A\u0629 \u0627\u0644\u0646\u0627\u062A\u062C\u0629 \u0639\u0646 \u0627\u0644\u0639\u0648\u0627\u0626\u062F \u0627\u0644\u0645\u062A\u0648\u0642\u0639\u0629 \u0645\u0646 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0623\u0633\u0645\u0627\u0644\u064A\u0629 \u062E\u0644\u0627\u0644 \u062D\u064A\u0627\u062A\u0647\" \u0641\u0642\u0637 \u064A\u0633\u0627\u0648\u064A \u0633\u0639\u0631 \u0627\u0644\u0639\u0631\u0636\"."@ar . "\u0643\u0641\u0627\u0621\u0629 \u0647\u0627\u0645\u0634\u064A\u0629 \u0644\u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644"@ar . . "949556136"^^ . . "\u0627\u0644\u0643\u0641\u0627\u0621\u0629 \u0627\u0644\u0647\u0627\u0645\u0634\u064A\u0629 \u0644\u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644 (\u0628\u0627\u0644\u0625\u0646\u062C\u0644\u064A\u0632\u064A\u0629: Marginal efficiency of capital\u060C \u062A\u064F\u0639\u0631\u0641 \u0627\u062E\u062A\u0635\u0627\u0631\u064B\u0627 \u0628\u0640 MEC)\u060C \u0647\u064A \u0645\u0639\u062F\u0644 \u0627\u0644\u062E\u0635\u0645 \u0627\u0644\u0630\u064A \u0633\u064A\u0639\u0627\u062F\u0644 \u0633\u0639\u0631 \u0623\u0635\u0644 \u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u062B\u0627\u0628\u062A \u0645\u0639 \u0627\u0644\u0642\u064A\u0645\u0629 \u0627\u0644\u062D\u0627\u0644\u064A\u0629 \u0627\u0644\u0645\u062E\u0635\u0648\u0645\u0629 \u0644\u0644\u0625\u064A\u0631\u0627\u062F\u0627\u062A \u0627\u0644\u0645\u062A\u0648\u0642\u0639\u0629. \u062A\u0645 \u062A\u0642\u062F\u064A\u0645 \u0645\u0635\u0637\u0644\u062D \"\u0627\u0644\u0643\u0641\u0627\u0621\u0629 \u0627\u0644\u0647\u0627\u0645\u0634\u064A\u0629 \u0644\u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644\" \u0645\u0646 \u0642\u0628\u0644 \u062C\u0648\u0646 \u0645\u0627\u064A\u0646\u0627\u0631\u062F \u0643\u064A\u0646\u0632 \u0641\u064A \u0646\u0638\u0631\u064A\u062A\u0647 \u0627\u0644\u0639\u0627\u0645\u0629\u060C \u0648\u062A\u0645 \u062A\u0639\u0631\u064A\u0641\u0647 \u0639\u0644\u0649 \u0623\u0646\u0647 \"\u0645\u0639\u062F\u0644 \u0627\u0644\u062E\u0635\u0645 \u0627\u0644\u0630\u064A \u0633\u064A\u062C\u0639\u0644 \u0627\u0644\u0642\u064A\u0645\u0629 \u0627\u0644\u062D\u0627\u0644\u064A\u0629 \u0644\u0633\u0644\u0633\u0644\u0629 \u0627\u0644\u0645\u0639\u0627\u0634\u0627\u062A \u0627\u0644\u0633\u0646\u0648\u064A\u0629 \u0627\u0644\u0646\u0627\u062A\u062C\u0629 \u0639\u0646 \u0627\u0644\u0639\u0648\u0627\u0626\u062F \u0627\u0644\u0645\u062A\u0648\u0642\u0639\u0629 \u0645\u0646 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0623\u0633\u0645\u0627\u0644\u064A\u0629 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\u043F\u0440\u043E\u0435\u043A\u0442\u0435. \u0414\u043B\u044F \u043E\u0441\u0443\u0449\u0435\u0441\u0442\u0432\u043B\u0435\u043D\u0438\u044F \u0438\u043D\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0439 \u043F\u0440\u0435\u0434\u0435\u043B\u044C\u043D\u0430\u044F \u044D\u0444\u0444\u0435\u043A\u0442\u0438\u0432\u043D\u043E\u0441\u0442\u044C \u043A\u0430\u043F\u0438\u0442\u0430\u043B\u0430 \u0434\u043E\u043B\u0436\u043D\u0430 \u0431\u044B\u0442\u044C \u0432\u044B\u0448\u0435, \u0447\u0435\u043C \u043F\u0440\u043E\u0446\u0435\u043D\u0442\u043D\u0430\u044F \u0441\u0442\u0430\u0432\u043A\u0430 r. \u042D\u0442\u043E \u0441\u0432\u044F\u0437\u0430\u043D\u043E \u0441 \u0442\u0435\u043C, \u0447\u0442\u043E \u043F\u0440\u0438\u0432\u0435\u0434\u0451\u043D\u043D\u0430\u044F \u0441\u0442\u043E\u0438\u043C\u043E\u0441\u0442\u044C PV \u0431\u0443\u0434\u0443\u0449\u0438\u0445 \u0434\u043E\u0445\u043E\u0434\u043E\u0432 \u043D\u0430 \u043A\u0430\u043F\u0438\u0442\u0430\u043B \u0434\u043E\u043B\u0436\u043D\u0430 \u0431\u044B\u0442\u044C \u0432\u044B\u0448\u0435 \u0441\u0442\u043E\u0438\u043C\u043E\u0441\u0442\u0438 \u043A\u0430\u043F\u0438\u0442\u0430\u043B\u0430 Ck. \u042D\u0442\u0438 \u043F\u0435\u0440\u0435\u043C\u0435\u043D\u043D\u044B\u0435 \u043C\u043E\u0436\u043D\u043E \u0432\u044B\u0440\u0430\u0437\u0438\u0442\u044C \u0441\u043B\u0435\u0434\u0443\u044E\u0449\u0438\u043C \u043E\u0431\u0440\u0430\u0437\u043E\u043C: \n* \u0433\u0434\u0435 n \u2014 \u043A\u043E\u043B\u0438\u0447\u0435\u0441\u0442\u0432\u043E \u043B\u0435\u0442, \u0432 \u0442\u0435\u0447\u0435\u043D\u0438\u0435 \u043A\u043E\u0442\u043E\u0440\u044B\u0445 \u043A\u0430\u043F\u0438\u0442\u0430\u043B \u0431\u0443\u0434\u0435\u0442 \u043F\u0440\u043E\u0434\u0443\u043A\u0442\u0438\u0432\u043D\u044B\u043C, \u0430 Ri \u2014 \u0447\u0438\u0441\u0442\u0430\u044F \u043F\u0440\u0438\u0431\u044B\u043B\u044C \u0432 \u0433\u043E\u0434\u0443 i; \n* \u0433\u0434\u0435 Ck \u2014 \u043F\u0435\u0440\u0432\u043E\u043D\u0430\u0447\u0430\u043B\u044C\u043D\u044B\u0435 \u043A\u0430\u043F\u0438\u0442\u0430\u043B\u044C\u043D\u044B\u0435 \u0437\u0430\u0442\u0440\u0430\u0442\u044B; \u0430 MEC \u2014 \u043F\u0440\u0435\u0434\u0435\u043B\u044C\u043D\u0430\u044F \u044D\u0444\u0444\u0435\u043A\u0442\u0438\u0432\u043D\u043E\u0441\u0442\u044C \u043A\u0430\u043F\u0438\u0442\u0430\u043B\u0430. \u0422\u0430\u043A\u0438\u043C \u043E\u0431\u0440\u0430\u0437\u043E\u043C, \u0434\u043B\u044F \u043F\u0440\u0438\u043D\u044F\u0442\u0438\u044F \u0440\u0435\u0448\u0435\u043D\u0438\u044F \u043E\u0431 \u0438\u043D\u0432\u0435\u0441\u0442\u0438\u0440\u043E\u0432\u0430\u043D\u0438\u0438 \u043D\u0435\u043E\u0431\u0445\u043E\u0434\u0438\u043C\u043E, \u0447\u0442\u043E\u0431\u044B PV> Ck ; \u0442\u043E \u0435\u0441\u0442\u044C MEC>r. \u041A\u0430\u043A \u0441\u043B\u0435\u0434\u0441\u0442\u0432\u0438\u0435, \u043E\u0431\u043D\u0430\u0440\u0443\u0436\u0438\u0432\u0430\u0435\u0442\u0441\u044F \u043E\u0431\u0440\u0430\u0442\u043D\u0430\u044F \u0437\u0430\u0432\u0438\u0441\u0438\u043C\u043E\u0441\u0442\u044C \u043C\u0435\u0436\u0434\u0443 \u043F\u0440\u043E\u0446\u0435\u043D\u0442\u043D\u043E\u0439 \u0441\u0442\u0430\u0432\u043A\u043E\u0439 \u0438 \u0438\u043D\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u044F\u043C\u0438, \u0442\u043E \u0435\u0441\u0442\u044C \u0431\u043E\u043B\u0435\u0435 \u0432\u044B\u0441\u043E\u043A\u0430\u044F \u043F\u0440\u043E\u0446\u0435\u043D\u0442\u043D\u0430\u044F \u0441\u0442\u0430\u0432\u043A\u0430 \u043F\u0440\u0438\u0432\u043E\u0434\u0438\u0442 \u043A \u043C\u0435\u043D\u044C\u0448\u0438\u043C \u0438\u043D\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u044F\u043C. \u0415\u0432\u0440\u043E\u043F\u0435\u0439\u0441\u043A\u0430\u044F \u043A\u043E\u043C\u0438\u0441\u0441\u0438\u044F \u0432 \u0441\u043E\u043E\u0442\u0432\u0435\u0442\u0441\u0442\u0432\u0438\u0438 \u0441 \u0435\u0451 \u0431\u0430\u043D\u043A\u043E\u043C \u0434\u0430\u043D\u043D\u044B\u0445 \u00ABAMECO\u00BB (\u0413\u043E\u0434\u043E\u0432\u044B\u0435 \u043C\u0430\u043A\u0440\u043E\u044D\u043A\u043E\u043D\u043E\u043C\u0438\u0447\u0435\u0441\u043A\u0438\u0435 \u0434\u0430\u043D\u043D\u044B\u0435) \u043E\u043F\u0440\u0435\u0434\u0435\u043B\u044F\u0435\u0442 \u043F\u0440\u0435\u0434\u0435\u043B\u044C\u043D\u0443\u044E \u044D\u0444\u0444\u0435\u043A\u0442\u0438\u0432\u043D\u043E\u0441\u0442\u044C \u043A\u0430\u043F\u0438\u0442\u0430\u043B\u0430 \u043A\u0430\u043A \u00AB\u0438\u0437\u043C\u0435\u043D\u0435\u043D\u0438\u0435 \u0412\u0412\u041F, \u0432\u044B\u0440\u0430\u0436\u0435\u043D\u043D\u043E\u0433\u043E \u0432 \u043F\u043E\u0441\u0442\u043E\u044F\u043D\u043D\u044B\u0445 \u0440\u044B\u043D\u043E\u0447\u043D\u044B\u0445 \u0446\u0435\u043D\u0430\u0445 \u0433\u043E\u0434\u0430 T, \u0432 \u0440\u0430\u0441\u0447\u0451\u0442\u0435 \u043D\u0430 \u0435\u0434\u0438\u043D\u0438\u0446\u0443 , \u0432\u044B\u0440\u0430\u0436\u0435\u043D\u043D\u043E\u0433\u043E \u0432 \u043F\u043E\u0441\u0442\u043E\u044F\u043D\u043D\u044B\u0445 \u0446\u0435\u043D\u0430\u0445 \u0433\u043E\u0434\u0430 \u0422-0,5 [\u0442\u043E \u0435\u0441\u0442\u044C \u0441 \u043E\u0442\u0441\u0442\u0430\u0432\u0430\u043D\u0438\u0435\u043C \u043D\u0430 \u043F\u043E\u043B\u0433\u043E\u0434\u0430]\u00BB."@ru . . "\uC790\uBCF8\uC758 \uD55C\uACC4\uD6A8\uC728"@ko . . . . . "2937"^^ . . "A efici\u00EAncia marginal do capital \u00E9 aquela taxa de desconto que equaciona o pre\u00E7o de um ativo de capital fixo com o valor descontado atual da renda esperada . O termo \"efici\u00EAncia marginal do capital\" foi introduzido por John Maynard Keynes em sua Teoria Geral, e definido como sendo \"a taxa de desconto que tornaria o valor presente da s\u00E9rie de anuidades dado pelos retornos esperados de capital de ativos durante sua vida igual a sua oferta de pre\u00E7o\"."@pt . . . . "Marginal efficiency of capital"@en . . "A efici\u00EAncia marginal do capital \u00E9 aquela taxa de desconto que equaciona o pre\u00E7o de um ativo de capital fixo com o valor descontado atual da renda esperada . O termo \"efici\u00EAncia marginal do capital\" foi introduzido por John Maynard Keynes em sua Teoria Geral, e definido como sendo \"a taxa de desconto que tornaria o valor presente da s\u00E9rie de anuidades dado pelos retornos esperados de capital de ativos durante sua vida igual a sua oferta de pre\u00E7o\". A emc \u00E9 a taxa l\u00EDquida de retorno esperada da compra de capital adicional. \u00C9 calculado como o lucro que se espera que uma empresa ganhe considerando o custo dos insumos e a deprecia\u00E7\u00E3o do capital. \u00C9 influenciado pelas expectativas sobre os custos e a demanda futuros de insumos. A emc e os desembolsos de capital s\u00E3o os elementos que uma empresa leva em considera\u00E7\u00E3o ao decidir sobre um projeto de investimento. A emc precisa ser maior do que a taxa de juros, r, para o investimento acontecer. Isto porque o valor presente PV de retornos futuros para as necessidades de capital para ser superior ao custo de capital, Ck.Estas vari\u00E1veis podem ser expressas da seguinte forma: \n* PV = Rn / (1 + r)n, onde n \u00E9 o n\u00FAmero de anos considerados e Rn \u00E9 o retorno l\u00EDquido por ano; \n* Ck = Rn / (1 + MEC)n, onde Ck s\u00E3o os desembolsos de capital. Portanto, para o investimento, a seguinte condi\u00E7\u00E3o \u00E9 necess\u00E1ria: PV > Ck, que \u00E9 a emc > r.Como consequ\u00EAncia, uma rela\u00E7\u00E3o inversa entre a taxa de juros e o investimento \u00E9 encontrado (i.e.: uma maior taxa de juros gera menos investimento). Com a Comiss\u00E3o Europeia, de acordo com o seu banco de dados \"a AMECO\" (Anual Macro-Econ\u00F3mico de Dados), a efici\u00EAncia Marginal do capital \u00E9 definida como \"a Mudan\u00E7a no PIB a pre\u00E7os constantes de mercado, os pre\u00E7os do ano T por unidade de forma\u00E7\u00E3o bruta de capital fixo a pre\u00E7os constantes do ano T-.5 [isto \u00E9, revestidos por metade de um ano]."@pt . . "Eficiencia marginal del capital"@es . "The marginal efficiency of capital (MEC) is that rate of discount which would equate the price of a fixed capital asset with its present discounted value of expected income. The term \u201Cmarginal efficiency of capital\u201D was introduced by John Maynard Keynes in his General Theory, and defined as \u201Cthe rate of discount which would make the present value of the series of annuities given by the returns expected from the capital asset during its life just equal its supply price\u201D. The MEC is the net rate of return that is expected from the purchase of additional capital. It is calculated as the profit that a firm is expected to earn considering the cost of inputs and the depreciation of capital. It is influenced by expectations about future input costs and demand. The MEC and capital outlays are the elements that a firm takes into account when deciding about an investment project. The MEC needs to be higher than the rate of interest, r, for investment to take place. This is because the present value PV of future returns to capital needs to be higher than the cost of capital, Ck.These variables can be expressed as follows: \n* where n is the number of years during which the capital will be productive, and Ri is the net return in year i; \n* where Ck is the upfront capital outlays; this equation defines the MEC. Hence, for investment to take place, it is necessary that PV > Ck; that is, MEC > r.As a consequence, an inverse relationship between the rate of interest and investment is found (i.e.: a higher rate of interest generates less investment). With the European Commission according to its data bank \"AMECO\" (Annual Macro-Economic Data) the marginal efficiency of capital is defined as \"Change in GDP at constant market prices of year T per unit of gross fixed capital formation at constant prices of year T-.5 [that is, lagged by half a year]."@en . . . "21530142"^^ . . . "\uC790\uBCF8\uC758 \uD55C\uACC4\uD6A8\uC728(\u8CC7\u672C-\u9650\u754C\u6548\u7387, marginal efficiency of capital, MEC)\uC740 \uC5B4\uB5A4 \uC790\uBCF8\uC744 \uC0C8\uB85C \uD55C \uB2E8\uC704 \uCD94\uAC00\uD568\uC73C\uB85C\uC368 \uC5BB\uC5B4\uC9C0\uB294 \uC608\uC0C1\uC218\uC775\uB960, \uC989 \uADF8 \uC790\uBCF8\uC5D0 \uB300\uD55C \uD22C\uC790\uC758 \uC608\uC0C1\uC218\uC775\uB960\uC744 \uB9D0\uD55C\uB2E4. \uC774\uB97C\uD14C\uBA74 \uC774 \uC790\uBCF8\uC758 \uACF5\uAE09\uAC00\uACA9\uC744 R, \uC790\uBCF8\uC758 \uC874\uC18D\uAE30\uAC04 \uC911\uC5D0 \uC5BB\uC5B4\uC9C4\uB2E4\uACE0 \uC608\uC0C1\uB418\uB294 \uC218\uC775\uC758 \uACC4\uC5F4\uC744 Q1,Q2...Qn\uB85C \uD55C\uB2E4\uBA74 \uD55C\uACC4\uD6A8\uC728 m\uC740 \uC218\uC775\uACC4\uC5F4 Q1,Q2...Qn\uC758 \uD604\uC7AC\uAC00\uCE58\uB85C \uD558\uC5EC \uADF8\uC758 \uACF5\uAE09\uAC00\uACA9\uACFC \uAC19\uAC8C \uD558\uB294 \uD560\uC778\uC728\uC774\uB77C \uC815\uC758\uB41C\uB2E4. \uC774\uAC83\uC744 \uC218\uC2DD\uC73C\uB85C \uB098\uD0C0\uB0B4\uBA74 R = Q1/(1+m) + Q2/(1+m)^2 + ... ... + Qn/(1+m)^n\uC73C\uB85C \uB41C\uB2E4. \uAC01\uC885 \uC790\uBCF8\uC758 \uD55C\uACC4\uD6A8\uC728 \uAC00\uC6B4\uB370\uC5D0\uC11C \uCD5C\uB300\uC758 \uAC83\uC774 \uC790\uBCF8 \uC804\uBC18\uC758 \uD55C\uACC4\uD6A8\uC728\uC774 \uB418\uACE0, \uB530\uB77C\uC11C \uC774 \uD55C\uACC4\uD6A8\uC728\uACFC \uC2DC\uC7A5\uC774\uC790\uC728\uC774 \uAC19\uC740 \uC810\uC5D0\uC11C \uD22C\uC790\uB7C9\uC774 \uACB0\uC815\uB41C\uB2E4. \uC774 \uBB38\uC11C\uC5D0\uB294 \uB2E4\uC74C\uCEE4\uBBA4\uB2C8\uCF00\uC774\uC158(\uD604 \uCE74\uCE74\uC624)\uC5D0\uC11C GFDL \uB610\uB294 CC-SA \uB77C\uC774\uC120\uC2A4\uB85C \uBC30\uD3EC\uD55C \uAE00\uB85C\uBC8C \uC138\uACC4\uB300\uBC31\uACFC\uC0AC\uC804\uC758 \"\uC790\uBCF8\uC758 \uD55C\uACC4\uD6A8\uC728\" \uD56D\uBAA9\uC744 \uAE30\uCD08\uB85C \uC791\uC131\uB41C \uAE00\uC774 \uD3EC\uD568\uB418\uC5B4 \uC788\uC2B5\uB2C8\uB2E4."@ko . . "Efici\u00EAncia marginal do capital"@pt . . . . . .