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Монополия, олигополия, монопсония

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IAEAAEAIEA

Aaaaeaiea ……….…………………………………………..… 2

Iiiiiieey ……………………………………………..……. 3

*enoay iiiiiieey e iiiiiieueiay aeanoue …..………..….. 4

Aa?uea?u aeey aoiaea a io?aneue: eae iiaeaea?aeeaaaony iiiiiieueiay
aeanoue …………………………………………….… 6

Ni?in ia i?iaeoeo iiiiiieenoa …………………..……… 10

I?aaeaeueiue aeioiae iiiiiieenoa ……………………………… 11

Oeaia, i?aaeaeueiue aeioiae e yeanoe/iinoue ni?ina ii oeaia …… 14

Iiiiiieenoe/aneay eiieo?aioeey ……………………..… 16

Ii?aaeaeaiea io?anee ……………………………..………….… 18

Aeaonoi?iiiyy iiiiiieey ……………………………….… 19

Ca?aaioiay ieaoa, ii?aaeaeyaiay i?ionithcaie, ieieiaeueiay ca?aaioiay
ieaoa e caiyoinoue ia iiiiiieenoe/aneeo ?uieao ?aai/ae neeu
……………………………………………………… 22

Ieeaiiieey ………………………………………………… 24

Niciaoaeueiia niia?ie/anoai: ieeaiiieenoe/aneea oeaiiaua aieiu
………………………………………………………….…… 26

No?aoaaey iiaaaeaiey i?e ieeaiiieee e oai?ey ea? …….…… 29

Naiai? e ea?oaee …………………………………………… 31

Ia?aciaaiea ea?oaey ………………………….……………….. 32

?aeeaia i?e ieeaiiieee ………………………………………. 34

Ae?oaea iiaeaee ieeaiiieee ……………………………….. 35

Oaa?aeinoue oeai e eiiaiay e?eaay ni?ina …………………..… 36

Eeaea?noai a oeaiao ……………………………………….……… 38

Oeaiiia?aciaaiea, ia?aie/eaathuaa aoiae a io?aneue …….….. 38

Iiiiiniiey ………………………………………………… 39

I?aaeaeueiua ecaea?aeee ia ?ano?nu aeey iiiiiniienoa …..… 41

I?eiyoea ?aoaiee i iaeia ia iiiiiniienoe/aneeo ?uieao oaeoi?ia
i?iecaiaenoaa ………………………………..…..….… 43

Aeanoue iiiiiniiee, ni/aoathuayny n iiiiiieueiie aeanoueth ia ?uieao
aioiaie i?iaeoeoeee …………………………….….… 45

AAAAeAIEA

Iuiaoiee ie? iaaiciiaeii i?aaenoaaeoue naaa aac ?uieia, a ?uiee, a naith
i/a?aaeue, iaaiciiaeii i?aaenoaaeoue aac eiieo?aioeee. Iaeiaei, ?uiee e,
niioaaonoaaiii, eiieo?aioeey ia iaeeiaeiau.

?uiee niaa?oaiiie eiieo?aioeee. Ia oaeii ?uiea eiaaony iiiai i?iaeaaoeia
e iieoiaoaeae, a iiyoiio ie iaeei ioaeaeueii acyoue i?iaeaaaoe eee
iieoiaoaeue ia ieacuaaao cia/eoaeueiiai aeeyiey ia oeaio. Aieueoeinoai
naeueneioicyenoaaiiuo ?uieia aeecee e ?uieai niaa?oaiiie eiieo?aioeee.
Iai?eia?, ouny/e oa?ia?ia au?aueaatho ioaieoeo, eioi?oth iieoiatho
ouny/e iieoiaoaeae. A eoiaa ie iaeei oa?ia? e ie iaeei iieoiaoaeue ia
iiaoo nouanoaaiiui ia?acii iiaeeyoue ia oeaio ioaieoeu.

Iiiaea ae?oaea ?uiee aeinoaoi/ii eiieo?aioiu, /oiau ?anniao?eaaoue eo
eae ?uiee niaa?oaiiie eiieo?aioeee. Ie?iaie ?uiie iaaee, iai?eia?, eiaao
ianeieueei aeanyoeia iinoaaueeia. Yoiai aeinoaoi/ii, /oiau a neo/aa,
anee iaeei ec iinoaaueeia auoiaeeo ec aeaea, aeeyiea ia oeaio auei au
iacia/eoaeueii. Oaeay aea ea?oeia iaaethaeaaony ia iiiaeo ?uieao
ieia?aeueiiai e i?e?iaeiiai nu?uey – oaeeo, eae oaieue, aeaeaci, ieiai
eee ieeiiaoa?eaeu. ?yae ?uieia n iaaieueoei /eneii iinoaaueeia
?anniao?eaaaony ana-oaee eae eiieo?aioiua a oeaeyo aiaeeca. Iai?eia?,
aaeaoeeiiiua ia?aaicee a NOA ianeoaeeaathony ianeieueeeie aeanyoeaie
eiiiaiee, ii aieueoay /anoue aaeaoeeiiiuo ia?aaicie i?eoiaeeony eeoue ia
ianeieueeeo ec ieo. Oai ia iaiaa eiieo?aioeey iaaeaeo ieie (ii ia
anaaaea) aeinoaoi/ii aeanoeay, a iiyoiio a iaeioi?uo neo/ayo (ii ia ai
anao) ?uiie ?anniao?eaaaony eae eiieo?aioiue.

E?iia ?uieia niaa?oaiiie eiieo?aioeee nouanoaotho ?uiee ianiaa?oaiiie
eiieo?aioeee, i ieo, a eiaiii i ianiaa?oaiiie eiieo?aioeee, aeaeaa e
iieaeao ?a/ue. Oaeay (ianiaa?oaiiay) eiieo?aioeey iiaeao nouanoaiaaoue a
oneiaeyo iiiiiieee, ieeaiiieee, iiiiiniiee, a oaeaea ia ?uiea
aeeooa?aioee?iaaiiuo i?iaeoeoia. Yoe iiiyoey iu e iii?iaoai ?ane?uoue a
aeaaiie /anoe iaoaai ?aoa?aoa (e?iia ?uiea aeeooa?aioee?iaaiiuo
i?iaeoeoia ec-ca iaaeinoaoea aoiaae e eioi?iaoeee).

IIIIIIEEss

Eiaaea ia ?uiea eiaaony oieueei iaeei i?iaeaaaoe, oi yoio
i?iaeaaaoe iaeaaeaao iiiiiieeae. Ia oaeii ?uiea i?iaeaaaoe iiaeao
aeeyoue ia oeaio, eiio?iee?oy iaee/ea oiaa?a. Neaaeiaaoaeueii, e?eaay
ni?ina aeey i?iaeoeoa iiiiiieenoa aeaenoaeoaeueii yaeyaony ?uii/iie
e?eaie ni?ina. Ia ?aoaiey iiiiiieee aicaeaenoaotho ni?in ia aa
i?iaeoeo, yeanoe/iinoue yoiai ni?ina ii oeaia e i?aaeaeueiua ecaea?aeee
i?iecaiaenoaa oiaa?a. Oaeeaeoaeueii ioee/aaony ?aaeoeey iaeneiece?othuae
i?eaueue iiiiiieee ia iaeiae, noaneaeee, aaaaeaiea aa?oieo i?aaeaeia
aeey oeai io ?aaeoeee ia yoi eiieo?aioiie oe?iu e io?anee.

Niaa?oaiiay eiieo?aioeey oa?aeoa?ecoaony ianiiniaiinoueth ioaeaeueiuo
i?iaeaaoeia aeeyoue ia oeaio oiaa?a, eioi?ue i?iaeaao eaaeaeue ec ieo.
Ie iaeia ioaeaeueiay eiieo?aioiay oe?ia ia ioaaouaaao aeinoaoi/ii
aieueoie aeiee ?uii/iiai i?aaeeiaeaiey, /oiau aicaeaenoaiaaoue ia oeaio.
Iiiiiieey, n ae?oaie noi?iiu, oa?aeoa?ecoaony eiioeaio?aoeeae
i?aaeeiaeaiey a ?oeao aeaaeaeueoeaa iaeiie aaeeinoaaiiie oe?iu. Oeaeue
yoie aeaau caeeth/aaony a oii, /oiau iiiyoue, eaeei aa?iyoiui ia?acii
aicaeaenoaotho ia ?aaiiaanioth ?uii/ioth oeaio aeeyiea iiiiiieee ia
i?aaeeiaeaiea e ionoonoaea eiieo?e?othueo i?iaeaaoeia ia ?uiea. Aacaea
i?aaeiieaaaaony, /oi aeaaeaeueoeu iiiiiieee no?aiyony iaeneiece?iaaoue
i?eaueue. Eae oieueei ii?aaeaeaiu iiiiiieueiua oeaia e auione, oi eo
iiaeii n?aaieoue n aaee/eiaie eiieo?aioiuo ?aaiiaaniie oeaiu e
auioneaaiiai ia ?uiie eiee/anoaa oiaa?a, aiaeece?oy iineaaenoaey
iiaeiuaiey iieiinoueth eiieo?aioiie io?anee iiiiiieeae, iaeneiece?othuae
i?eaueue.

*ENOAss IIIIIIEEss E

IIIIIIEUeIAss AEANOUe

*enoay iiiiiieey — yoi neooaoeey, eiaaea nouanoaoao aaeeinoaaiiue
i?iaeaaaoe oiaa?a, eioi?ue ia eiaao aeeceeo caiaieoaeae. Iiae yoei
oa?ieiii iiieiaaony e nai yoio aaeeinoaaiiue i?iaeaaaoe oiaa?a. ?uiie,
aaea aeiieie?oao iiiiiieey, iaoiaeeony a ?aceii eiio?anoa n iieiinoueth
eiieo?aioiui ?uieii, ia eioi?ii iiiai niia?ie/athueo i?iaeaaoeia
i?aaeeaaatho aeey i?iaeaaee noaiaea?oece?iaaiiue oiaa?. O iieoiaoaeae,
aeaeathueo iio?aaeyoue oiaa? iiiiiieueiie oe?iu, anoue oieueei iaeei
enoi/iee i?aaeeiaeaiey. O /enoie iiiiiieee iao i?iaeaaoeia-niia?ieeia,
eiieo?e?othueo n iae ia aa ?uiea.

Iiiyoea /enoie iiiiiieee yaeyaony aano?aeoeeae. Anoue i/aiue iaiiiai
(anee e anoue) i?iaeoeoia, o eioi?uo iao caiaieoaeae. Ianoiay
yeaeo?e/aneay eiiiaiey iiaeao auoue aaeeinoaaiiui i?iaeaaoeii
yeaeo?iyia?aee a ?aeiia, iaeiaei, yeaeo?e/anoai ai iiiaeanoaa naieo
i?eiaiaiee eiaao caiaieoaee. Eiaaea oeaia yeaeo?iyia?aee oaaee/eaaaony,
aai eiee/anoai, ia eioi?ia i?aaeuyaeyaony ni?in aeey eniieueciaaiey a
ioiieoaeueiuo oeaeyo, nieaeaaony. Ia/e, ?aaioathuea ia iaoo?aeueiii aaca
e iaooe, yaeythony oi?ioeie caiaieoaeyie yeaeo?e/aneiai iaia?aaa. Oaeei
aea ia?acii ii/oiaay neoaeaa NOA oieueei ia ia?aue acaeyae yaeyaony
aaeeinoaaiiui iinoaaueeii oneoa ii aeinoaaea ienai. Aa oneoae iiaoo
auoue caiaiaiu neoaeaie yeni?ann-aeinoaaie, oaeaeiiioieeaoeeyie,
aeeth/ay yeaeo?iiioth ia?aaea/o ienueiaiiuo niiauaiee.

?aaeei eiaaea ia iaoeeiiaeueiii eee ie?iaii ?uiea anoue oieueei iaeei
i?iaeaaaoe. Ia “De Beers Consolidated Mines, Ltd., of South Africa”
i?eoiaeeony ieiei 85% aiaeiauo i?iaeaae aeiacia. Oioy eiiiaiey ia iiaeao
n/eoaoueny /enoie iiiiiieeae, iia aanueia aeecea e iae. Eiaaea “De
Beers” ca ianyoe i?aaeeiaeeo ia i?iaeaaeo aieueoa aeiacia, oi, i?e
i?i/eo ?aaiuo oneiaeyo, oeaia ia aeiacu oiaaeao. Oioy “De Beers” ia
yaeyaony /enoie iiiiiieeae, iia i?iaeaao i/aiue aieueooth aeieth anao
iieoiaaiuo aaeaaiaeii iaia?aaioaiiuo aeiacia e iiaeao aeeyoue ia oeaiu
ia aeiacu, eiio?iee?oy eo eiee/anoai, eioi?ia i?aaeeaaaao ia i?iaeaaeo.

Yoi aeiaieueii iaiau/ii, ii /enoay iiiiiieey /aua oa?aeoa?ia aeey
ianoiuo ?uieia, /ai aeey iauaiaoeeiiaeueiuo. Iai?eia?, anee au iinauaaoa
eieeaaeae a iaeaiueeii ai?iaea, oi oai iiaeao ieacaoueny oieueei iaeei
i?iaeaaaoe o/aaieeia aeey eieeaaeaea. O eieaeiiai iaaaceia auea au
ianoiay iiiiiieey ia i?iaeaaeo ?acee/iuo o/aaieeia. Oaeei aea ia?acii a
iaeaiueeeo ai?iaeeao iiaeao auoue aaeeinoaaiiue oa?aiaao eee
aaeeinoaaiiue coaiie a?a/, o eioi?uo oiaaea iiiiiieey ia iaaeeoeeineea e
coaia?a/aaiua oneoae a yoii ?aeiia. Au noaeeeaaaoanue n ianoiuie
iiiiiieeyie ia oneoae aaeaaeiaaii, iioiio /oi a aieueoeinoaa ianaeaiiuo
ioieoia nouanoaoao iaeia oaeaoiiiay eiiiaiey, iaania/eaathuay ianoioth
naycue. Noiaeiui ia?acii ianoiua iiiiiieee i?aaeinoaaeytho oaeea
eiiioiaeueiua oneoae, eae yeaeo?e/anoai, aac, o?ainii?o. Iaeiaei
aeayoaeueiinoue iiiaeo ec yoeo i?aaei?eyoee iauanoaaiiiai iieueciaaiey
?aaoee?oaony i?aaeoaeuenoaaiiuie aaaionoaaie a iiiuoea oaea?aeaoue yoe
i?aaei?eyoey io eniieueciaaiey eie naiae iiiiiieueiie aeanoe ai aeeyiee
ia oeaiu.

Oe?ia iaeaaeaao iiiiiieueiie aeanoueth oiaaea, eiaaea iia iiaeao
aicaeaenoaiaaoue ia oeaio naiaai oiaa?a, eciaiyy aai eiee/anoai, eioi?ia
iia aioiaa i?iaeaoue. Noaiaiue, aei eioi?ie ioaeaeueiue i?iaeaaaoe
iiaeao eniieueciaaoue iiiiiieueioth aeanoue, caaeneo io iaee/ey aeeceeo
caiaieoaeae aai i?iaeoeoa e io aai aeiee a iaueo i?iaeaaeao ia ?uiea.
*oiau iaeaaeaoue iiiiiieueiie aeanoueth, oe?ia ia o?aaoaony auoue /enoie
iiiiiieeae. Iaiaoiaeeiie i?aaeiinueeie aeey iiiiiieueiie aeanoe yaeyaony
oi, /oiau e?eaay ni?ina ia i?iaeoeoeeth oe?iu auea iaeeiiaia aiec, a ia
auea ai?eciioaeueiie, eae a neo/aa eiieo?aioiie oe?iu. Eiaaea o oe?iu
eiaaony iaeeiiaiiay aiec e?eaay ni?ina ia aa i?iaeoeo, iia iaeaaeaao
niiniaiinoueth iiauoaoue eee iiieaeaoue oeaio iooai eciaiaiey eiee/anoaa
oiaa?a, eioi?ia iia i?aaeeaaaao. Iai?eia?, oioy ei?ii?aoeey “Ford Motor
Company” ia iaeaaeaao /enoie iiiiiieeae ia i?iecaiaenoai e i?iaeaaeo
aaoiiiaeeae, iia iiaea au aeaaeaoue iiiiiieueiie aeanoueth, anee au
niiaea iiaeieiaoue oeaio ia naie iaoeiu, i?aaeeaaay aeeea?ai iaiueoaa eo
eiee/anoai. Iia iiaea au iinooiaoue oae, anee au e?eaay ni?ina ia aa
aaoiiaoeiu auea au iaeeiiaia aiec. Yoi iiaei au neo/eoueny, anee au
aeinoaoi/iia /enei iieoiaoaeae iaoei “Ford” ?anniao?eaaee eo eae
i?iaeoeou, cia/eoaeueii ioee/athueany io aaoiiiaeeae eiieo?e?othueo
i?iecaiaeeoaeae. “Ford” iia au oaeaea aicaeaenoaiaaoue ia oeaio
aaoiiiaeeae, anee au aai aeiey a iauai eo i?aaeeiaeaiee auea aeinoaoi/ii
aaeeea aeey oiai, /oiau naeaeaoue aaoiiiaeee cia/eoaeueii aieaa ?aaeeei
ia ?uiea oiaa?ii eee, iaiai?io, eiathueiny a eciaeeee a oa/aiea
aeaiiiai ia?eiaea.

A e?aeiai, i?aaeaeueiii neo/aa e?eaay ni?ina ia i?iaeoeo, ?aaeecoaiue
/enoie iiiiiieeae, yaeyaony iai?aaeaiiie aiec ?uii/iie e?eaie ni?ina ia
yoio i?iaeoeo. Nouanoaaiiia ?acee/ea iaaeaeo iiiiiieenoe/aneei ?uieii e
eiieo?aioiui ?uieii caeeth/aaony a niiniaiinoe ia iiiiiieece?iaaiiii
?uiea ii?aaeaeaiiie oe?iu aeeyoue ia oeaio, au?o/aaioth ca aa oiaa?.
Oe?ia n iiiiiieueiie aeanoueth yaeyaony oe?iie, eioi?ay ii naiaio
oniio?aieth onoaiaaeeaaao oeaio ia naie oiaa?, a ia i?eieiaao aa eae
aeaiiia, eae ?uii/ioth ?aaeueiinoue.

?uii/iay no?oeoo?a oeacuaaao ia /enei iieoiaoaeae e i?iaeaaoeia, ia eo
aeiee a iauai eiee/anoaa iieoiaaiiai eee ?aaeecoaiiai oiaa?a, noaiaiue
noaiaea?oecaoeee oiaa?a, a oaeaea eaaeinoue aoiaea ia ?uiie e auoiaea
ec iaai. *enoay iiiiiieey e niaa?oaiiay eiieo?aioeey yaeythony aeaoiy
e?aeieie oi?iaie ?uii/iie no?oeoo?u. A /enoi iiiiiieueiie ?uii/iie
no?oeoo?a oieueei iaeia oe?ia ?aaeecoao ana ?uii/iia i?aaeeiaeaiea
ii?aaeaeaiiiai i?iaeoeoa, iiyaeaiea aea ae?oaeo oe?i iaaiciiaeii. A
neo/aa niaa?oaiiie eiieo?aioeee nouanoaoao iiiai oe?i, i?e/ai eaaeaeay n
iaeaiueeie ?uii/iie aeieae, e aiciiaeai naiaiaeiue aoiae a io?aneue.
?aaeueiua ?uii/iua no?oeoo?u iaoiaeyony iaaeaeo yoeie aeaoiy e?aeieie
neo/ayie. I?aaeaeueiua neo/ae, oai ia iaiaa, aeatho iaoa?eae aeey
iiieiaiey iiiaeo i?iaeai, /oi iieacii aeey oyniaiey i?iiaaeooi/iuo
aa?eaioia. Aiaeec aeaiiuo, ioiinyueony e ?uii/iie no?oeoo?a,
eniieuecoaony, /oiau ii?aaeaeyoue aa?iyoiinoue oiai, iiaoo ee oe?iu ia
?uiea aicaeaenoaiaaoue ia oeaiu i?iaeaaaaiuo eie oiaa?ia.

Aa?uea?u aeey aoiaea a io?aneue:

eae iiaeaea?aeeaaaony iiiiiieueiay aeanoue

I?eauee neoaeao eae neaiae, /oiau i?eaea/ue iiauo iinoaaueeia
oiaa?a, eiaaea ?uiee yaeythony /enoi eiieo?aioiuie. Anee iiiiiieueiay
oe?ia iieo/aao yeiiiie/aneoth i?eaueue, oi yoi aoaeao eneooaoue iiauo
iioaioeeaeueiuo i?iaeaaoeia eiieo?e?iaaoue n iiiiiieenoii iooai
i?iecaiaenoaa aiaeiae/iiai oiaa?a. Iiaeaea?aeaiea /enoie iiiiiieee,
neaaeiaaoaeueii, o?aaoao nouanoaiaaiey oneiaee, eioi?ua i?aaeioa?auatho
eiieo?aioeeth iiauo i?iaeaaoeia n iiiiiieeae. Aa?uea? aeey aoiaea a
io?aneue – yoi ia?aie/eoaeue, eioi?ue i?aaeioa?auaao iiyaeaiea
aeiiieieoaeueiuo i?iaeaaoeia ia ?uiea iiiiiieueiie oe?iu. Aa?uea?u aeey
aoiaea ia ?uiie iaiaoiaeeiu aeey aeieain?i/iiai iiaeaea?aeaiey
iiiiiieueiie aeanoe. Anee au aue aiciiaeai naiaiaeiue aoiae ia
iiiiiieece?iaaiiua ?uiee, oi yeiiiie/aneea i?eauee, iieo/aaiua
iiiiiieueiuie oe?iaie, i?eaeaeee au iiauo i?iecaiaeeoaeae e i?iaeaaoeia.
I?aaeeiaeaiea ia yoeo ?uieao aic?inei au, oae eae aic?inei au eiee/anoai
i?iecaiaeeoaeae e i?iaeaaoeia. Iiiiiieueiue eiio?ieue iaae oeaiie
ieii/aoaeueii en/ac au, oae eae ?uiee noaee au eiieo?aioiuie. N?aaee
iniiaiuo oeiia aa?uea?ia aeey aoiaea ia ?uiee, aeathueo aiciiaeiinoue
iiyaeoueny iiiiiieee e iiiiaathueo aa iiaeaea?aeeaaoue, iiaeii oeacaoue
ia neaaeothuea:

1. Eneeth/eoaeueiua i?aaa, iieo/aiiua io i?aaeoaeuenoaa. Iaeioi?ua
aa?uea?u aeey aoiaea ia ?uiie yaeythony ?acoeueoaoaie i?aaeoaeuenoaaiiuo
ia?, eioi?ua i?aaeinoaaeytho oe?iai noaoon aaeeinoaaiiiai i?iaeaaoea.
Iai?eia?, ianoiua i?aaiu aeanoe /anoi ?ac?aoatho onoaiaaeeaaoue nenoaiu
eaaaeueiiai oaeaaeaeaiey aaeeinoaaiiie oe?ia. I?aaiu aeanoe iau/ii
i?aaeinoaaeytho iiiiiieeth ia i?aai ieacuaaoue o?ainii?oiua oneoae,
oneoae nayce, a oaeaea iniiaiua eiiioiaeueiua oneoae oaeea, eae
iauanoaaiiay aeaeaia, yeaeo?iyia?aaoeea, aiaeiniaaaeaiea e eaiaeecaoeey,
aaciniaaaeaiea. Ai O?aioeee n 1904 aiaea iioi?iiiue aecian
eiio?iee?oaony eiiiaieae “Aeaeaia?ae Ouethia?aen”, iiiiiieeae,
iieuecothuaeny ainoaea?noaaiiuie noaneaeeyie, eioi?ay i?iaeaao a?iau e
i?aaeinoaaeyao iioi?iiiua oneoae. Ai iiiaeo neo/ayo, ec eioi?uo iaeaieaa
aaaeiui yaeyaony ii/oa, i?aaiu aeanoe naie ?oeiaiaeyo iiiiiieeyie.
Iiiaea ainoaea?noaa naie eiatho iiiiiieeth a i?iaeaaea e?aieeo iaieoeia,
a oaeaea yaeythony aaeeinoaaiiuie eaaaeueiuie i?aaenoaaeoaeyie eai?iiai
aeciana, i?aaiecoy ainoaea?noaaiiua eioa?ae.

2. Iaoaiou e aaoi?neea i?aaa. Iaoaiou e aaoi?neea i?aaa
iaania/eaatho nicaeaoaeyi iiauo i?iaeoeoia eee i?iecaaaeaiee eeoa?aoo?u,
eneonnoaa e iocuee eneeth/eoaeueiua i?aaa, /oiau i?iaeaaaoue eee
i?aaeinoaaeyoue eeoeaicee ia eniieueciaaiea eo ecia?aoaiee e oai?aiee.
Iaoaiou iiaoo oaeaea auaeaaaoueny ia i?iecaiaenoaaiiua oaoiieiaee.
Iaoaiou e aaoi?neea i?aaa iaania/eaatho iiiiiieueiua iiceoeee oieueei ia
ia?aie/aiiia /enei eao. Iinea enoa/aiey n?iea aeaenoaey iaoaioa aa?uea?
aeey aoiaea ia ?uiie en/acaao. Eaeay iaoaioia e aaoi?neeo i?aa ninoieo a
oii, /oiau iiiu?youe oe?iu e ioaeaeueiua ee/iinoe ecia?aoaoue iiaua
i?iaeoeou e i?ioeannu iooai aa?aioe?iaaiey ecia?aoaoaeyi
eneeth/eoaeueiuo i?aa ia oi, /oiau ?aaeeciaaoue ia ?uiea ieiaeu eo
oneeee. Iaeiaei eneeth/eoaeueiua i?aaa aa?aioe?othony oieueei ia
ia?aie/aiiue ia?eiae. Nicaeaaaaiay oaeei ia?acii iiiiiieey yaeyaony
a?aiaiiie.

Eiaaea eaeay-ieaoaeue oe?ia iacaeiiii aoi?aaaony ia ?uiie iooai
ia?ooaiey iaoaioa ae?oaie oe?iu, aa iiaoo i?eioaeeoue i?ae?aoeoue
i?iaeaaee ii ?aoaieth noaea. Iai?eia?, a 1985 aiaeo oaaea?aeueiue
noaeuey iinoaiiaee, /oi “Eiaeae ei?ii?aeoi” ia?ooeea naiue iaoaioia,
auaeaiiuo oe?ia “Iiea?ieae ei?ii?aeoi”, i?iecaiaey e ?aaeecoy n 1976
aiaea oioiaiia?aou iaiiaaiiie nuaiee. Eiaaea iinoaiiaeaiea noaea aioei a
neeo a oa/aiea aoi?ie iaaeaee yiaa?y 1986 aiaea, “Eiaeaeo”, ia aeieth
eioi?iai e na?aaeeia 80-o aiaeia i?eoiaeeeinue 25% aiaeiauo i?iaeaae
oioiaiia?aoia iiiaioaeueiie nuaiee, i?eoeinue i?ae?aoeoue i?iecaiaenoai
eae yoeo oioiaiia?aoia, oae e ieaiee aeey ieo.

3. Nianoaaiiinoue ia ana i?aaeeiaeaiea eaeiai-eeai
i?iecaiaenoaaiiiai ?ano?na. Iiiiiieey iiaeao oaeaea iiaeaea?aeeaaoueny a
?acoeueoaoa aeaaeaiey anaie enoi/ieeaie i?aaeeiaeaiey eiie?aoiiai
?ano?na, iaiaoiaeeiiai aeey i?iecaiaenoaa iiiiiieece?iaaiiiai oiaa?a.
“De Beers” iaeaaeaao iiiiiieueiie aeanoueth ia aeiaciii ?uiea aeaaiaea?y
aa eiio?ieth iaae i?iaeaaeaie ieiei 85% iaia?aaioaiiuo aeiacia, aiaeiuo
aeey ecaioiaeaiey ae?aaioeaiiinoae. “Aluminum Company of America”
iaeaaeaea iiiiiieeae ia aethieieaaii ?uiea NOA aieioue aei eiioea aoi?ie
ie?iaie aieiu. Aa iiiiiieey iiaeaea?aeeaaeanue io/anoe aa eiio?ieai iaae
ianoiiieiaeaieyie aieneoiaie ?oaeu, eioi?ay yaeyaony nu?ueai aeey
i?iecaiaenoaa aethieiey, e io/anoe eiio?ieai iaae ianeieueeeie
i?aainoiaeiuie enoi/ieeaie aeaoaaie yia?aee.

Eaeea-eeai oieeaeueiua niiniaiinoe eee ciaiey oaeaea iiaoo nicaeaoue
iiiiiieeth. Oaeaioeeaua iaaoeu, ooaeiaeieee, nii?oniaiu eee “neeaee
iauanoaa” eaeie-ieaoaeue ae?oaie n?aaeu iaeaaeatho iiiiiieeae ia
eniieueciaaiea naieo oneoa. Iai?eia?, anee au au auee Neeueaano?ii
Noaeeiia, au iiaee au iieo/aoue ano?iiiie/aneea aiii?a?u ca naie oneoae
a eaaeaeii oeeueia. Noaeeiia iieo/ee 15 iei. aeieea?ia iethn i?ioeaiou
io eanniauo nai?ia ca aai ?ieue a “?ieee-4”. Noaeeiia iieo/ee, eae
niiauaeinue, aiii?a?, i?aauoathuee 12 iei aeieea?ia ca naie oneoae a
oeeueia “Iaae aa?oeiie”, auiouaiiii a 1986 aiaeo.

Oe?iu, o eioi?uo anoue oaoiieiae/aneea nae?aou, iaeaaeatho iiiiiieeae,
anee ae?oaea oe?iu ia iiaoo aini?iecaanoe eo i?eaiu ia?aaioee e
i?iecaiaenoaa i?iaeoeoia. Iai?eia?, “Coca-Cola” ouaoaeueii io?aiyao
naith oi?ioeo ne?iia, eioi?ue aoiaeeo a eeanne/aneoth “Coca-Cola”.
Nae?aoiay oi?ioea iaania/eaaao eiiiaiee iiiiiieeth ia aa iaieoie.
Eiia/ii, iineieueeo nouanoaoao iiiai aeeceeo eee caiaiythueo aa
aacaeeiaieueiuo iaieoeia, “Coca-Cola” ia iaeaaeaao /enoie iiiiiieeae.

4. I?aeiouanoai ieceeo ecaea?aeae e?oiiiai i?iecaiaenoaa, iaoneiaeaiiiai
iiiiiieecaoeeae ?uiea. I?aeiouanoaa a cao?aoao, eiathueany o i/aiue
e?oiiuo oe?i, iiaoo iicaieeoue iaeiie oe?ia, ianeoaeeaathuae aanue ?uiie
a ea/anoaa aaeeinoaaiiiai i?iaeaaoea, i?iecaiaeeoue i?iaeoeoeeth n aieaa
ieceeie ecaea?aeeaie, /ai yoi auei au aiciiaeii, anee au ?uiie
ianeoaeeaaeny aeaoiy eee aieaa i?iaeaaoeaie. Iai?eia?, a aieaa ieceeo
n?aaeieo ecaea?aeeao i?iecaiaenoaa ii ia?a ?inoa oe?iu iiaea au
au?aceoueny yeiiiiey ia ianooaaao i?iecaiaenoaa (oaaee/eaathueeny yooaeo
ianooaaia i?iecaiaenoaa). Yoi iiaeao niinianoaiaaoue onoaiiaeaieth
iiiiiieueiie aeanoe e noaoue aa?uea?ii aeey aoiaea ia ?uiie ae?oaeo oe?i
(iiiiiieey, caueuay naie ?uiie nauoa, iiaeao onoaiaaeeaaoue
ioiineoaeueii ieceea oeaiu, niioaaonoaothuea naiei ieceei ecaea?aeeai,
iaaeinooiiui aeey “iiae/eia” ia ?uiea).

Anee oe?iu iiaoo iineaaeiaaoaeueii nieaeaoue n?aaeiea ecaea?aeee
i?iecaiaenoaa e iieo/aoue i?eauee iooai ?anoe?aiey i?iecaiaenoaa, /oiau
oaeiaeaoai?eoue aeieain?i/iue ?uii/iue ni?in, oi, a eiia/iii n/aoa, eae
iniiaiie iinoaauee ooaa?aeeony iaeia oe?ia. Niaa?oaiiay eiieo?aioeey i?e
yoeo ianoiyoaeuenoaao i?eaaea au e cia/eoaeueii aieaa aunieei n?aaeiei
ecaea?aeeai i?iecaiaenoaa, /ai oa, eioi?ua auee au i?e iiiiiieee, oae
eae iiaeaea?aeaiea eiieo?aioeee iio?aaiaaei au nouanoaiaaiey iiiaeo
iaeaiueeeo oe?i n iaaieueoeie ?uii/iuie aeieyie. Anee au niaa?oaiiay
eiieo?aioeey nouanoaiaaea ecia/aeueii, oi iia au caeii/eeanue, eae
oieueei nouanoaothuea oe?iu neeeenue au eee iaeia oe?ia neoieea au e
eiinieeaee?iaaea eo aeoeau. *oiau ainiieueciaaoueny i?aeiouanoaii ieceeo
ecaea?aeae e?oiiiai i?iecaiaenoaa e aeinoe/ue aieaa ieceeo n?aaeieo
ecaea?aeae, aeieaeia aeiieie?iaaoue iaeia oe?ia. ?ac iia aeiieie?oao,
iiaua oe?iu ia iiaoo aieoe a io?aneue, oae eae iie ecia/aeueii auee au
neeoeii iaeu, /oiau aeinoe/ue oao n?aaeieo ecaea?aeae, eioi?uie
iieuecoaony aeiieie?othuay oe?ia. Aeiieie?othuay oe?ia anaaaea iiaea au
i?iecaiaeeoue ii aieaa ieceei n?aaeiei ecaea?aeeai, /ai ethaay iiaay
oe?ia, aoiaeyuay a io?aneue. Iia au iiaea, neaaeiaaoaeueii, a?aiaiii
nieceoue naith oeaio e ana aua iieo/aoue i?eaueue. Oaeei ia?acii, iia
iiaeao eniieueciaaoue naie eiio?ieue iaae oeaiie, /oiau auoieeiooue ec
io?anee ethaiai niia?ieea.

?en. 1 iieacuaaao aeieain?i/ioth e?eaoth n?aaeieo ecaea?aeae ioaeaeueiie
oe?iu aianoa n e?eaie ?uii/iiai ni?ina ia aa oiaa?. Caiaoei, /oi
n?aaeiea ecaea?aeee i?iecaiaenoaa nieaeathony ia i?ioyaeaiee anaai
eioa?aaea cia/aiee auionea, aeey eioi?iai e?eaay ni?ina eaaeeo auoa
e?eaie LRAC (aeieain?i/iie e?eaie n?aaeieo ecaea?aeae). Yoi icia/aao,
/oi i?e anao aaee/eiao auionea, ca eioi?ue iieoiaoaee aioiau oieaoeoue
oaeoth oeaio, eioi?ay i?aainoiaeeo n?aaeiea ecaea?aeee, oe?ia anaaaea
iiaeao nieceoue n?aaeiea ecaea?aeee aua aieueoa, i?iecaiaey aieueoa
i?iaeoeoeee. Eaaei iieacaoue, /oi i?e aeaiiuo ianoiyoaeuenoaao i?e
ethaie aaee/eia auionea aaeeinoaaiiue i?iaeaaaoe iiaeao i?aaeeiaeeoue
ana o?aaoaiia eiee/anoai oiaa?a n aieaa ieceeie cao?aoaie, /ai aeaa eee
aieaa i?iaeaaoea. Iai?eia?, aaeeinoaaiiue i?iecaiaeeoaeue iia au, anee
au ?aoee iinooiaoue oae, auionoeoue eiee/anoai oiaa?a Q1. Anee au ii
i?aaeeiaeee ia i?iaeaaeo ia ?uiea ana yoi eiee/anoai, oi iieoiaoaee auee
au aioiau caieaoeoue oeaio ?1, eioi?ay auea au a oi/iinoe ?aaia n?aaeiei
ecaea?aeeai i?e yoii auionea, o. a. LRAC1. Iauea cao?aou i?iecaiaenoaa,
neaaeiaaoaeueii, auee au: LRAC1 (Q1).

I?aaeiieiaeei, aianoi yoiai aeaa oe?iu i?iecaaee au eaaeaeay ii iieiaeia
eiee/anoaa, iio?aaiiai ia ?uiea, eiaaea oeaia onoaiiaeeanue ia o?iaia
P1. Eaaeaeay ec aeaoo oe?i iiianea au n?aaeiea ecaea?aeee i?iecaiaenoaa,
?aaiua LRAC2 > LRAC1, e eaaeaeay i?aaeeiaeeea au i?iaeaoue eiee/anoai,
?aaiia Q1/2 ii yoie oeaia. Iauea ecaea?aeee i?iecaiaenoaa Q1 aaeeieoe
auionea auee au, neaaeiaaoaeueii

TC2 = LRAC2(Q1/2)+LRAC2(Q1/2) = LRAC2(Q1) > LRAC1(Q1).

Au iiaeaoa oaeaeaoue, /oi, anee au ia ?uiea auea oeaia P1, oi aeaa
iaiueoea oe?iu ieacaeenue au ia a ninoiyiee iie?uoue naie n?aaeiea
ecaea?aeee i?iecaiaenoaa e, neaaeiaaoaeueii, iiianee au yeiiiie/aneea
oauoee. Aaeeinoaaiiay e?oiiay oe?ia, iaania/eaathuay aanue ?uii/iue
ni?in, iiaeao, neaaeiaaoaeueii, auionoeoue aeaiiia eiee/anoai oiaa?a n
aieaa ieceeie iaueie ecaea?aeeaie, /ai aeaa eee aieaa iaiueoeo oe?i,
eiaaea acaeiiioiioaiea iaaeaeo e?eaie ni?ina e e?eaie LRAC (n?aaeieo
cao?ao a aeieain?i/iii ieaia) yaeyaony oaeei, eae iieacaii ia ?en. 1.
Iiaeiaiay oe?ia iiaea au auoanieoue ec io?anee iaiueoea oe?iu, iiieaeay
oeaio oae, /oiau oaeiaeaoai?eoue aanue ?uii/iue ni?in. Eiia/ii, eae
oieueei au iia i?aaei?eiyea iiaeiaiua aeaenoaey, ie iaeia iaiueoay
eiieo?e?othuay oe?ia ia niiaea au i?iaeaaaoue oiaa? ii oaeie oeaia e
iieo/aoue i?eaueue. Oe?ia aea, ooaa?aeea oaeei ia?acii naia iiiiiieueiia
iieiaeaiea, auea au aieueia nie?aoeoue naie auione, i?eioaeaeay oai
naiui oeaio iiaeiyoueny. Nie?auaiea i?iecaiaenoaa noaei au
?aaeueiinoueth, anee au oe?ia iiaea oaeei ia?acii oaaee/eoue naie
i?eauee. Anee au iiyoue iiaua oe?iu iiiuoaeenue i?iieeiooue ia ?uiie,
yoa oe?ia iiaea au aiiaue, eae ?aiaa, nieceoue oeaiu.

?en. 1. I?aeiouanoaa ieceeo ecaea?aeae i?iecaiaenoaa anoanoaaiiie
iiiiiieee

Oe?ia, eioi?ay iiaeao iaania/eoue aanue ?uii/iue ni?in ia eaeie-eeai
oiaa? n iaiueoeie n?aaeieie ecaea?aeeaie, /ai oa, eioi?ua auee au
aiciiaeiu, anee au aeaa eee aieaa oe?i iinoaaeyee au oi/ii oaeia aea
eiee/anoai oiaa?a, iacuaaaony anoanoaaiiie iiiiiieeae. Anoanoaaiiua
iiiiiieee iiaoo i?aiaeaaeaoue aeey oaeeo i?iaeoeoia, eae ianoiia
iaania/aiea yeaeo?iyia?aeae, aacii e ianoiua oneoae oaeaoiiiie nayce.
Yeiiiiey cao?ao, i?ienoiaeyuay ec-ca e?oiiiianooaaiiai i?iecaiaenoaa
(i?e oaaee/eaathuainy yooaeoa ?inoa ianooaaia i?iecaiaenoaa), yaeyaony
i?e/eiie oiai, ii/aio yoei oe?iai /anoi i?aaeinoaaeythony iiiiiieueiua
i?aaa. Eciaiaiey a oaoiieiaee iiaoo eciaieoue cao?aoiua oneiaey.
Iai?eia?, aeaeueiyy oaeaoiiiay naycue eiaaea-oi n/eoaeanue anoanoaaiiie
iiiiiieeae, ii iia aieueoa ia ?anniao?eaaaony eae oaeiaay ec-ca
eciaiaiee a oaoiieiaee. Nenoaiu niooieeiaie nayce e ae?oaea
oaoiieiae/aneea iiaoanoaa iicaieytho ?yaeo oe?i eiieo?e?iaaoue e a
io?anee aeaeueiae nayce, a aieaa e?oiiue i?iaeaaaoe aieueoa ia iaeaaeaao
i?aeiouanoaaie aieaa ieceeo n?aaeieo ecaea?aeae i?iecaiaenoaa.

NI?IN IA I?IAeOEO IIIIIIEENOA

E?eaay ni?ina ia auione i?iaeoeoeee iiiiiieueiie oe?iu yaeyaony
iaeeiiaiiie aiec e?eaie ?uii/iiai ni?ina ia i?iaeoeo, eioi?ue i?iaeaao
iiiiiieey. ?ani?ino?aiaiiay ioeaea oao, eoi e?eoeeoao iiiiiieeth,
caeeth/aaony a oii, /oi iie i?aaeiieaaatho, /oi ni?in ia aa i?iaeoeo
yaeyaony niaa?oaiii ia yeanoe/iui. Iio?aaeoaee anaaaea ioaa/atho ia
iiauoaiea oeaiu oiaiueoaieai iio?aaiuo ei eiee/anoa oiaa?a. Iai?eia?,
anee ianoiay yeaeo?e/aneay iiiiiieey iiauneo oeaiu, iio?aaeoaee iiaoo
nie?aoeoue eniieueciaaiea yeaeo?e/anoaa. Iie iiaoo iaiueoa
eniieueciaaoue naie eiiaeeoeeiia?u, eee iiaoo iaiueoa aea/ue naao,
eiaaea eo iao a eiiiaoa. Anee au a no?aia aue oieueei iaeei i?iaeaaaoe
aaoiiiaeeae, ethaee ana ?aaii i?iaeieaeaee au ?aaae?iaaoue oae, /oi
iieoiaee au aieueoa iaoei, eiaaea iiiiiieueiue i?iaeaaaoe nieceo oeaiu,
e iaiueoa, eiaaea oeaiu aic?anoaee.

Oi?aaeythuea iiiiiieeae n/eoathony n ?aaeoeeae iio?aaeoaeae ia
eciaiaiea oeaiu, eiaaea iie i?eieiatho ?aoaiea ii oeaiai. Iie ciatho,
/oi eiee/anoai oiaa?a, eioi?ia iie i?iaeaaeoo, caaeneo io oeaiu,
eioi?oth iie onoaiiayo. E iaiai?io, iie ciatho, /oi oeaia, eioi?oth iie
iiaoo iieo/eoue ca naie oiaa?, caaeneo io aai eiee/anoaa, eioi?ia iie
i?aaeeaaatho ia i?iaeaaeo ca ethaie ia?eiae a?aiaie.

Iiiiiieeno iiaeao onoaiiaeoue eeai oeaio naiaai oiaa?a, eeai aai
eiee/anoai, i?aaeeaaaaiia ia i?iaeaaeo ca ethaie aeaiiue ia?eiae
a?aiaie. ?ac ii aua?ae oeaio, oi o?aaoaiia eiee/anoai oiaa?a
ii?aaeaeyaony e?eaie ?uii/iiai ni?ina. Iai?eia?, ianoiay oaeaoiiiay
iiiiiieey iiaea au ?aoeoue oaaee/eoue naith oeaio, /oiau oaaee/eoue naie
i?eauee. Anee oaaee/aiea oeaiu aoaeao iaeia?aii ?aaoee?othueie
i?aaiaie, oi eiiiaiey noieeiaony n nie?auaieai eiee/anoaa iaoiaeyueo
ni?in oneoa. Oaeei aea ia?acii, anee iiiiiieey auaa?ao a ea/anoaa
onoaiaaeeaaaiiai ath aeaaiiai ia?aiao?a iinoaaeyaiia ia ?uiie eiee/anoai
oiaa?a, oi oeaia, eioi?oth iieoiaoaee caieaoyo ca yoi eiee/anoai, oaeaea
aoaeao caaenaoue io e?eaie ni?ina ia i?iaeoeo. Iai?eia?, i?aaeiieiaeei,
/oi eaeie-oi i?iecaiaeeoaeue aaoiiiaeeae iaeaaeaao iiiiiieeae. A
?acoeueoaoa i?e?inoa ia?aiaiiuo ecaea?aeae i?iecaiaenoaa ii ?aoaao, /oi
aeieaeai i?iecaiaeeoue e i?iaeaaaoue iaiueoa aaoiiiaeeae eaaeaeue
ianyoe, /oiau oaea?aeaoue i?eaueue ia iaeneioia. Ii, neaaeiaaoaeueii,
nie?aoeo iinoaaeo iaoei naiei aeeea?ai. Nie?auaiea iinoaaie naeaeaao
aaoiiiaeee aieaa aeaoeoeeoiui oi aa?ii aeey niia?ie/athueo iieoiaoaeae.
A ?acoeueoaoa nie?auaiey eiathueony a iaee/ee iaoei eiieo?aioeey
iaaeaeo iieoiaoaeyie ca oiaiueoaiiia /enei aaoiiiaeeae, iaoiaeyueony o
aeeea?ia, ieaaeao iiauoathuaa aicaeaenoaea ia oeaio.

I?aaeeiaeaiea i?iaeoeoeee /enoie iiiiiieeae yaeyaony ?uii/iui
i?aaeeiaeaieai. Ni?in ia oiaa? iiiiiieenoa oaeaea yaeyaony ?uii/iui
ni?inii. Oaia?ue eaaei oaeaeaoue, ii/aio iiiiiieey ia yaeyaony oe?iie,
i?eieiathuae oeaio eae aeaiiia. Ii ia?a ?inoa auionea oeaia aeieaeia
oianoue, iioiio /oi ni?in iai?aaeai aiec. Niiinoaaei ni?in i?e iiiiiieee
n oai, n eioi?ui noaeeeaaaony eiieo?aioiay oe?ia. Eiieo?aioiay oe?ia
iiaeao i?iaeaaaoue noieueei, neieueei caoi/ao ii ?uii/iie oeaia. Ia
eiaao cia/aiey, neieueei i?iecaiaeeo eiieo?aioiay oe?ia, iia ia iiaeao
ie iiauneoue, ie iiieceoue naieie aeaenoaeyie ?uii/ioth oeaio.

I?aaeaeueiue aeioiae iiiiiieenoa

O eiieo?aioiie oe?iu i?aaeaeueiue aeioiae yaeyaony ii aaee/eia oaeei
aea, eae e oeaia. Eiieo?aioiay oe?ia ii auioneo nooeueaa, eioi?ay
?anniao?eaaeanue a ea/anoaa i?eia?a a i?aaeuaeoueo aeaaao, iieo/aao 150
aeieea?ia aeiiieieoaeueiiai aeioiaea eaaeaeue ?ac, eiaaea iia i?iaeaao
aua iaeei nooe ii oeaia 150 aeieea?ia. Iiiiiieeno aeieaeai nieceoue
oeaio oiaa?a, /oiau i?iaeaoue aieueoa. Yoi neaaeoao ec oiai oaeoa, /oi
e?eaay ni?ina ia i?iaeoeo iiiiiieenoa iaeeiiaia aiec. I?aaeaeueiue
aeioiae aeiiieieoaeueiuo i?iaeaae iiiiiieenoa anaaaea iaiueoa, /ai
oeaia.

OAAEEOeA 1. Ni?in e i?aaeaeueiue aeioiae aeey iiiiiieee

*eneiaie i?eia? naeaeaao yoi iiiyoiui. I?aaeiieiaeei, /oi au –
iiioey?iue eniieieoaeue. Au yaeyaoanue aaeeinoaaiiui i?iaeaaoeii
eiioea?oia, i?e/ai au yaeyaoanue e aeaaiui aeaenoaothuei eeoeii. Aaoe
iieeiiieee ia aeaeyo aeeceeo caiaieoaeae aaoaio aieino e ia?oaeiinoe.
Iie noiaeyo io aan n oia. Ei?i/a aiai?y, au – iiiiiieeno e iiaeaoa
onoaiaaeeaaoue naith oeaio ca eiioea?o.

A oaae. 1 nia?aiu aeaiiua i oeaia iaeiiai i?aaenoaaeaiey e eiee/anoaa,
eioi?ia iiaeao auoue i?iaeaii ii eaaeaeie aeaiiie oeaia a oa/aiea
aiaea. I?e oeaia a 1 iei. aeieea?ia ca i?aaenoaaeaiea oieueei iaeei
eiioea?oiue cae aue au aioia i?eia?anoe aaoe oneoae. Iauaa eiee/anoai
eiioea?oia a aiae, neaaeiaaoaeueii, aoaeao ?aaii 1. Iauee aiaeiaie
aeioiae aue au ?aaai 1 iei. aeieea?ia, eae e i?aaeaeueiue aeioiae.
I?aaeaeueiue aeioiae en/eneyaony oi/ii oaeei aea ia?acii, eae e aeey
eiieo?aioiie oe?iu. Yoi eciaiaiea iauaai aeioiaea, aeaeaiiia ia
eciaiaiea auionea. O?aouey eieiiea en/eneyao aaeaaiaeiue iauee aeioiae
io i?iaeaaee oneoa eiioea?oiui caeai. I?aaeaeueiue aeioiae yaeyaony
i?inoi eciaiaieai iauaai aeioiaea io eaaeaeiai aeiiieieoaeueiiai
eiioea?oa.

Anee au au oioaee aeaoue aeaa eiioea?oa a aiae, oeaio ioaeii auei au
nieceoue aei 900 000 aeieea?ia ca eiioea?o. Iauee aeioiae aoaeao oiaaea
1 800 000 aeieea?ia a aiae. I?aaeaeueiue aeioiae io aoi?iai eiioea?oa,
neaaeiaaoaeueii, ?aaai 800 000 aeieea?ia, ia 100000 aeieea?ia iaiueoa,
/ai iieo/aiiay ca iaai oeaia.

Ca eneeth/aieai neo/ay, eiaaea aeaaony oieueei iaeei eiioea?o a aiae,
i?aaeaeueiue aeioiae aoaeao anaaaea ieaea oeaiu, iacia/aiiie ca
eiioea?o. I?e/eia yoiai caeeth/aaony a oii, /oi oeaia aeieaeia auoue
nieaeaia, /oiau aeaoue aieueoa iaeiiai eiioea?oa a aiae. *oiau i?iaeaoue
aeaa eiioea?oiuo aunooieaiey a aiae aianoi iaeiiai, au aeieaeiu
iiieceoue naith oeaio ca eiioea?o n 1 iei. aeieea?ia aei 900 000
aeieea?ia. Yoi cia/eo, /oi io aiciiaeiinoe aeaoue iaeei eiioea?o ca 1
iei. aeieea?ia a aeaiiii aiaeo ioeacuaathony. Iiieaeaiea oeaiu i?eaiaeeo
e oiio, /oi au iieo/eoa oieueei 900 000 aeieea?ia aeioiaea io aoi?iai
eiioea?oa, eioi?ue au au ia niiaee i?iaeaoue, anee au ia nieceee oeaio.
A oi aea a?aiy au oa?yaoa aua 100 000 aeieea?ia, eioi?ua au iiaee au
ca?aaioaoue oieueei ia ia?aii eiioea?oa, anee au ?aoeee aeaaaoue a aiae
oieueei iaeei eiioea?o. *enoay iioa?y a aeioiaea io iiieaeaiey oeaiu
?aaiyaony, neaaeiaaoaeueii, 900 000 aeieea?ia ieion iaiieo/aiiua 100 000
aeieea?ia io ia?aiai eiioea?oa. I?aaeaeueiue aeioiae io aoi?iai
eiioea?oa ?aaai, neaaeiaaoaeueii, 800 000 aeieea?ai.

?en. 2 Ni?in i?e iiiiiieee a?oenoa e aai i?aaeaeueiue aeioiae io
i?aaenoaaeaiee

?en. 2 a?aoe/anee aini?iecaiaeeo aeaiiua oaae. 1. I?e oeaia a 1 iei.
aeieea?ia iauee aeioiae i?aaenoaaeai ieiuaaeueth OABG, eioi?ay ?aaiyaony
1 iei. aeieea?ia. Eiaaea oeaia nieaeaaony aei 900 000 aeieea?ia, oi
eaaeaeue aiae aeathony aeaa i?aaenoaaeaiey. Iauei aeioiaeii yaeyaony
oaia?ue ieiuaaeue OCEF, ?aaiay 1,8 iei. aeieea?ia. I?aaeaeueiui
aeioiaeii io aoi?iai i?aaenoaaeaiey yaeyaony ieiuaaeue DEFG ieion
ieiuaaeue ABDC. DEFG – yoi i?eaaaea aeioiaea a 900 000 aeieea?ia io
aoi?iai eiioea?oa. ABDC – yoi iioa?y aeioiaea a 100 000 aeieea?ia a
?acoeueoaoa ioeaca io aiciiaeiinoe aeaoue ia?aue eiioea?o ii oeaia a 1
iei. aeieea?ia.

Oaae. 1 io?aaeaao i?aaeaeueiue aeioiae aeey eaaeaeie aeaiiie oeaiu e
eiee/anoaa. Iinea ia?aiai eiioea?oa iineaaeothuea nieaeaiey oeaiu
oaaee/eaatho ?acieoeo iaaeaeo oeaiie e i?aaeaeueiui aeioiaeii. I?e oeaia
a 500 000 aeieea?ia ca eiioea?o i?aaeaeueiue aeioiae noaiiaeony ?aaiui
ioeth. I?e ethaie oeaia ieaea 500 000 aeieea?ia i?aaeaeueiue aeioiae
yaeyaony io?eoeaoaeueiui. Aeaaay aieaa oanoe eiioea?oia a aiae, au
oiaiueoeoa, a ia oaaee/eoa naie iauee aeioiae.

Oeaia, i?aaeaeueiue aeioiae e yeanoe/iinoue ni?ina ii oeaia

Aeey ethaiai nie?auaiey oeaiu ieiuaaeue, iiaeiaiay ieiuaaee ABDC ia
?en. 2, ?aaiyaony Q1 ((P). Yoi – aeioiae, oiouaiiue i?e ia?aaeecaoeee
aaeeieoeu oiaa?a ii aieaa aunieie oeaia. Ieiuaaeue DEFG ?aaiyaony P2
((Q). Yoi – oaaee/aiea aeioiaea io i?iaeaaee aeiiieieoaeueiuo aaeeieoe
oiaa?a ca au/aoii aeioiaea, eioi?ui iiaea?oaiaaee, ioeacaaoenue io
aiciiaeiinoe i?iaeaoue i?aaeuaeouea aaeeieoeu oiaa?a ii aieaa aunieei
oeaiai. Aeey i/aiue iaeaiueeeo eciaiaiee oeaiu eciaiaiey iauaai aeioiaea
iiaeii, neaaeiaaoaeueii, caienaoue oae

(TR=P((Q) + Q((P),

aaea (P io?eoeaoaeueii, a (Q iieiaeeoaeueii. Iiaeaeea o?aaiaiea ia (Q,
iieo/aai:

(TR/(Q = MR = P + Q * (P/(Q,

aaea (P/(Q yaeyaony iaeeiiii e?eaie ni?ina. Iineieueeo e?eaay ni?ina ia
i?iaeoeoeeth iiiiiieenoa eiaao io?eoeaoaeueiue iaeeii, oi i?aaeaeueiue
aeioiae aeieaeai auoue iaiueoa, /ai oeaia.

Acaeiinaycue iaaeaeo i?aaeaeueiui aeioiaeii e iaeeiiii e?eaie ni?ina
iiaeii eaaei i?aia?aciaaoue a niioiioaiea, eioi?ia naycuaaao
i?aaeaeueiue aeioiae n yeanoe/iinoueth ni?ina ii oeaia. Yeanoe/iinoue
ni?ina ii oeaia ia eaeie-eeai oi/ea e?eaie ni?ina ?aaia

ED = P/Q * (Q/(P,

neaaeiaaoaeueii,

(?/(Q = P/QED.

Iiaenoaaeyy yoi a o?aaiaiea i?aaeaeueiiai aeioiaea, iieo/aai:

MR = P + Q * P/QED = P + P * 1/ED.

Neaaeiaaoaeueii,

MR = P(1 + 1/ED).

Iineaaeiaa o?aaiaiea iiaeoaa?aeaeaao, /oi i?aaeaeueiue aeioiae iaiueoa
oeaiu. Yoi oae, iineieueeo ED io?eoeaoaeueia aeey iaeeiiaiiie aiec
e?eaie ni?ina ia i?iaeoeoeeth iiiiiieenoa. O?aaiaiea iieacuaaao, /oi,
aiauai, i?aaeaeueiue aeioiaeii ethaiai auionea caaeneo io oeaiu oiaa?a e
yeanoe/iinoe ni?ina ii oeaia. Yoi o?aaiaiea iiaeii oaeaea
eniieueciaaoue, /oiau iieacaoue, eae iauee aeioiae caaeneo io ?uii/iuo
i?iaeaae. I?aaeiieiaeei, /oi ED = -1. Yoi icia/aao aaeeie/ioth
yeanoe/iinoue ni?ina. Iiaenoaiiaea ED =-1 a o?aaiaiea aeaao ioeaaie
i?aaeaeueiue aeioiae. Eciaiaiey iauaai aeioiaea a ioaao ia eciaiaiea
oeaiu ia i?ienoiaeeo, eiaaea yeanoe/iinoue ni?ina ii oeaia ?aaia -1.
Oaeei aea ia?acii, eiaaea ni?in yeanoe/ai, o?aaiaiea iieacuaaao, /oi
i?aaeaeueiue aeioiae iieiaeeoaeai. Yoi oae, iioiio /oi aaee/eia ED auea
au iaiueoa /ai -1, e aieueoa, /ai ieion aaneiia/iinoue, eiaaea ni?in
yeanoe/ai. Iaeiiaoe, eiaaea ni?in iayeanoe/ai, oi i?aaeaeueiue aeioiae
yaeyaony io?eoeaoaeueiui. Oaae. 2 noiie?oao acaeiiioiioaiey iaaeaeo
i?aaeaeueiui aeioiaeii, yeanoe/iinoueth ni?ina ii oeaia e iauei
aeioiaeii.

OAAEEOeA 10.2. I?aaeaeueiue aeioiae, iauee aeioiae e yeanoe/iinoue
ni?ina ia i?iaeoeo ii oeaia

IIIIIIEENOE*ANEAss EIIEO?AIOeEss

Iiiiiieenoe/aneay eiieo?aioeey inouanoaeyaony oiaaea, eiaaea iiiai
i?iaeaaoeia eiieo?e?otho, /oiau i?iaeaaaoue aeeooa?aioee?iaaiiue
i?iaeoeo ia ?uiea, aaea aiciiaeii iiyaeaiea iiauo i?iaeaaoeia. Aeey
?uiea n iiiiiieenoe/aneie eiieo?aioeeae ni?aaaaeeeai neaaeothuaa:

1. Oiaa? eaaeaeie oe?iu, oi?aothuae ia ?uiea, yaeyaony ianiaa?oaiiui
caiaieoaeai oiaa?a, ?aaeecoaiiai ae?oaeie oe?iaie. I?iaeoeo eaaeaeiai
i?iaeaaoea iaeaaeaao eneeth/eoaeueiuie ea/anoaaie eee oa?aeoa?enoeeaie,
eioi?ua neoaeao oiio, /oiau iaeioi?ua iieoiaoaee i?aaeii/ee aai oiaa?
eiieo?e?othuei oe?iai. Iieoiaoaee, iai?eia?, aoaeoo aioiau oieaoeoue
aunieoth oeaio ca oooee, i?iecaaaeaiiua iaeiei i?iaeaaoeia, anee iie
iieaaatho, /oi yoe oooee aieaa oaeiaiu. Oaeei aea ia?acii iaeioi?ua
iio?aaeoaee aioiau ieaoeoue iiauoaiiua oeaiu ca iaeaaeaeo,
i?iecaaaeaiioth iaeiei iiaeaeuea?ii, iioiio /oi ei i?aaeony aa iie?ie
eee ea/anoai ioaeaeee. Aeeooa?aioeeaoeey oiaa?a icia/aao, /oi i?aaeiao,
i?iaeaaaaiue ia ?uiea, ia yaeyaony noaiaea?oece?iaaiiui.
Aeeooa?aioeeaoeey iiaeao i?i enoiaeeoue ec-ca aeaenoaeoaeueiuo
ea/anoaaiiuo ioee/ee iaaeaeo i?iaeoeoaie eee ec-ca i?aae iieaaaaiuo
ioee/ee, eioi?ua i?ienoaeatho ec ?acee/ee a ?aeeaia, i?anoeaea oi?aiaie
ia?ee eee “eieaeaea”, naycaiiui n iaeaaeaieai eee eniieueciaaieai yoiai
oiaa?a. *anu “?ieaen”, ?o/ee “Iiio Aeaie”, aaoiiiaeee “Ia?naaean-Aaioe”
e “AIA” – ana eiatho eaeoth-oi ?aiooaoeeth ea/anoaa e eaeoth-oi noaiaiue
niiaenoneie i?eaeaeaoaeueiinoe, eioi?ay, aoaeo/e ?aaeueiie eee
nicaeaiiie ?aeeaiie, aeaao i?iaeaaoeai oiaa?ia yoeo ia?ie eaeoth-oi
noaiaiue iiiiiieueiie aeanoe.

2. Ia ?uiea nouanoaoao ioiineoaeueii aieueoia /enei i?iaeaaoeia,
eaaeaeue ec eioi?uo oaeiaeaoai?yao iaaieueooth, ii ia iee?ineiie/aneoth
aeieth ?uii/iiai ni?ina ia iauee oei oiaa?a, ?aaeecoaiiai oe?iie e aa
niia?ieeaie. I?e iiiiiieenoe/aneie eiieo?aioeee ?acia?u ?uii/iuo aeieae
oe?ia iauai i?aainoiaeyo 1%, o. a. i?ioeaio, eioi?ue nouanoaiaae au
i?e niaa?oaiiie eiieo?aioeee. A oeie/iii neo/aa ia oe?io i?eoiaeeony io
1% aei 10% i?iaeaae ia ?uiea a oa/aiea aiaea.

3. I?iaeaaoeu ia ?uiea ia n/eoathony n ?aaeoeeae naieo niia?ieeia,
eiaaea auae?atho, eaeoth onoaiiaeoue oeaio ia naie oiaa?u eee eiaaea
auae?atho i?eaioe?u ii iauaio aiaeiauo i?iaeaae. Yoa iniaaiiinoue
yaeyaony neaaenoaeai ana aea ioiineoaeueii aieueoiai /enea i?iaeaaoeia
ia ?uiea n iiiiiieenoe/aneie eiieo?aioeeae. Iai?eia?, anee ioaeaeueiue
i?iecaiaeeoaeue oooaeue, /oiau i?iaeaoue aieueoa oiaa?a, nie?auaao naith
oeaio ia 20% ca ia?o iaoae, oi, aa?iyoii, /oi i?e?ino a iauaia aai
i?iaeaae i?ienoiaeeo ca n/ao iiiaeo, a ia ianeieueeeo i?iaeaaoeia. Eae
neaaenoaea, iaeiaa?iyoii, /oi eaeie-oi ioaeaeueiue eiieo?aio iiianao
aeinoaoi/ii cia/eoaeueiua iioa?e naiae aeiee ia ?uiea ec-ca oiaiueoaiey
i?iaeaae iie oeaiu ethaie ae?oaie oe?iie. Neaaeiaaoaeueii, o eiieo?aioia
iao i?e/ei, /oiau io?aaae?iaaoue ia yoi eciaiaieai naiae iieeoeee,
iineieueeo ?aoaiea ia?aie oe?iu eciaieoue oeaio ia aicaeaenoaoao a
cia/eoaeueiie noaiaie ia eo aiciiaeiinoe ecaeaeaoue i?eaueue. Oe?ia
ciaao yoi e, neaaeiaaoaeueii, ia o/eouaaao eaeie-eeai aiciiaeiie
?aaeoeee eiieo?aioia, eiaaea auae?aao naith oeaio eee oeaeue ii
i?iaeaaeai.

4. Ia ?uiea anoue oneiaey aeey naiaiaeiiai aoiaea e auoiaea. I?e
iiiiiieenoe/aneie eiieo?aioeee eaaei iniiaaoue iiaoth oe?io eee
iieeiooue ?uiie. Auaiaeiay eiiuthieoo?a ia ?uiea n iiiiiieenoe/aneie
eiieo?aioeeae i?eaea/ao iiauo i?iaeaaoeia. Iaeiaei aoiae ia ?uiie ia
ianoieueei eaaie, eae ii aue au i?e niaa?oaiiie eiieo?aioeee, iineieueeo
iiaua i?iaeaaoeu /anoi eniuouaatho o?oaeiinoe ni naieie iiauie aeey
iieoiaoaeae oi?aiauie ia?eaie e oneoaaie. Neaaeiaaoaeueii, oaea
nouanoaothuea oe?iu n onoiyaoaeny ?aiooaoeeae iiaoo nio?aiyoue naia
i?aeiouanoai iaae iiauie i?iecaiaeeoaeyie. Iiiiiieenoe/aneay
eiieo?aioeey iioiaea ia neooaoeeth iiiiiieee, iineieueeo ioaeaeueiua
oe?iu iaeaaeatho niiniaiinoueth eiio?iee?iaaoue oeaio naieo oiaa?ia. Iia
iioiaea e ia niaa?oaiioth eiieo?aioeeth, iineieueeo eaaeaeue oiaa?
i?iaeaaony iiiaeie oe?iaie, e ia ?uiea nouanoaoao naiaiaeiue aoiae e
auoiae.

Ii?aaeaeaiea io?anee

Oioy ia ?uiea n iiiiiieenoe/aneie eiieo?aioeeae oiaa? eaaeaeiai
i?iaeaaoea oieeaeai, iaaeaeo ?acee/iuie aeaeaie i?iaeoeoia anoue
aeinoaoi/ii noiaenoaa, /oiau na?oiie?iaaoue i?iaeaaoeia a oe?ieea
eaoaai?ee, iioiaeea ia io?aneue. Oiaa?iay a?oiia i?aaenoaaeyao niaie
ianeieueei aeecei naycaiiuo, ii ia eaeaioe/iuo oiaa?ia, eioi?ua
oaeiaeaoai?ytho iaeio e TV aea iio?aaiinoue. A eaaeaeie oiaa?iie a?oiia
i?iaeaaoeia iiaeii ?anniao?eaaoue eae eiieo?e?othuea oe?iu a i?aaeaeao
io?anee. I?eia?ii iaeiie oiaa?iie a?oiiu yaeyaony iaoaue a ae?oaie –
aeaineay iaeaaeaea. ‘

Anoue e i?iaeaiu a oi/iii ii?aaeaeaiee oiaa?iuo a?oii,
niioaaonoaothueo io?anee Iai?eia?, aeieaeia ee iaoaiay io?aneue
aeeth/aoue a naay ana aeaeu iaoae, a oii /enea ioaeneea oooee, aeaineea
oooee, aeaoneea oooee, aioeiee, nii?oeaioth iaoaue, ?aceiiaoth iaoaue e
o.ae.? ssnii, /oi iaiaoiaeeiu eaeea-oi aieaaua ?aoaiey, /oiau
ii?aaeaeeoue oiaa?ioth a?oiio. ?anoi?aiiua oneoae iiaee au ia?aciaaoue
oiaa?ioth a?oiio. Ii yaeythony ee oneoae ii i?aaeinoaaeaieth auno?i
i?eaioiaeyaiie ieue, ieacuaaaiua “McDonald’s” e “Burger King” /anoueth
yoie oiaa?iie a?oiiu? Ioaao iai/aaeaeai. Iiiaea iieoiaoaee ia
?anniao?eaatho aethaea, i?eaioiaeyaiua yoeie oe?iaie, a ea/anoaa oi?ioeo
caiaieoaeae aethae ianoiyueo ?anoi?aiia. Oi/ii oae aea iiaeii
aeieacaoue, /oi ?anoi?aiu, niaoeeaeece?othueany ia eeoaeneie eooia,
ninoaaeytho ae?oaoth oiaa?ioth a?oiio.

Eiaaea a?oiie?otho oe?iu a io?anee n oeaeueth ii?aaeaeaiey ?uiea n
iiiiiieenoe/aneie eiieo?aioeeae, oi anaaaea iaiaoiaeeii naeaeaoue ?yae
i?iecaieueiuo noaeaeaiee. Iaeiaei i?e iienaiee io?anee iiaeao ieacaoueny
iieaciie ioeaiea ia?ae?anoiie yeanoe/iinoe ni?ina ia oiaa?u
niia?ie/athueo oe?i. Iaiiieiaai, /oi ia?ae?anoiie yeanoe/iinoueth ni?ina
yaeyaony i?ioeaio eciaiaiey eiee/anoaa i?iaeaae iaeiiai oiaa?a ec-ca
eciaiaiey oeaiu ae?oaiai oiaa?a ia 1%. A io?anee n iiiiiieenoe/aneie
eiieo?aioeeae ia?ae?anoiay yeanoe/iinoue ni?ina ia oiaa?u niia?ie/athueo
oe?i aeieaeia auoue iieiaeeoaeueiie e ioiineoaeueii aieueoie. Yoi
icia/aao, /oi oiaa?u eiieo?e?othueo i?iaeaaoeia yaeythony ae?oa aeey
ae?oaa i/aiue oi?ioeie caiaieoaeyie. Anee oe?ia a io?anee iiaeieiaao
naith oeaio auoa oeaiu eiieo?e?othueo oe?i, oi iia iiaeao iaeeaeaoue
iioa?e cia/eoaeueiiai iauaia i?iaeaae a iieueco eiieo?aioia.

AeAONOI?IIIssss IIIIIIEEss

Aeaonoi?iiiyy iiiiiieey i?aaenoaaeyao niaie oaeoth ?uii/ioth
no?oeoo?o, i?e eioi?ie aaeeinoaaiiue i?iaeaaaoe e aaeeinoaaiiue
iieoiaoaeue inouanoaeytho eoieth – i?iaeaaeo oaeoi?ia i?iecaiaenoaa (
aeey i?iaeaaoea – yoi aioiaay i?iaeoeoeey). E iieoiaoaeue, e i?iaeaaaoe
iaeaaeatho aiciiaeiinoyie, aeinoaoi/iuie aeey eiio?iey iaae oeaiaie
oneoa oaeoi?ia i?iecaiaenoaa. ?en. 3 io?aaeaao neo/ae aeaonoi?iiiae
iiiiiieee. Iiiiiniieno eiaao aeaei n iiiiiieeae, i?iaeathuae iaeei ec
oaeoi?ia i?iecaiaenoaa. Eiaaea iiiiiniieno noaeeeaaaony n iiiiiieeae, a
?acoeueoaoa iiaeii iaaethaeaoue ea?oeio, iaiiieiathuoth aeoao oeoaiia.
Iiaeii oieueei aaaeaoue i aiciiaeiuo iineaaenoaeyo aeey o/anoieeia.

Ia ?en. 3 eeiey S – e?eaay i?aaeeiaeaiey ?aai/ae neeu. Iia oeacuaaao ia
oeaio ?anniao?eaaaiiai i?iecaiaenoaaiiiai ?ano?na, eioi?oth iaiaoiaeeii
caieaoeoue aeey i?eaea/aiey ii?aaeaeaiiiai eiee/anoaa oneoa yoiai
?ano?na. Oae eae oe?ia, caeoiathuay ?ano?n, yaeyaony iiiiiniieae, iia
caoi/ao onoaiiaeoue oeaio ia o?iaia wM, iaiaoiaeeiii aeey i?eaea/aiey
eiee/anoaa oneoa ?ano?na, niioaaonoaothuaai ia?ana/aieth e?eaie IIC n
e?eaie aa MRP oe?iu. Yoi ia?ana/aiea i?ienoiaeeo a oi/ea A1. A yoie
oi/ea oe?ia caoi/ao iaiyoue LM aaeeieoe oneoa aeaiiiai ?ano?na. Iiyoiio
iia i?aaeeiaeeo oeaio a ?acia?a wM aeieea?ia ca /an oneoa ?ano?na –
oeaio, iaiaoiaeeioth aeey i?eaea/aiey LM aaeeieoe oneoa ?ano?na.

?en. 3. Aeaonoi?iiiyy iiiiiieey

Aeey iaeneiecaoeee i?eauee iiiiiieueiue i?iaeaaaoe aeieaeai ioeaieoue
ni?in ia oneoae ?anniao?eaaaiiai ?ano?na. Caoai ii aoaeao no?aieoueny
onoaiiaeoue oaeoth oeaio, eioi?ay iiaoaeeo iaieiaoaey ?ano?na i?eia?anoe
eiee/anoai oneoa ?ano?na, niioaaonoaothuaai oi/ea, aaea i?aaeaeueiue
aeioiae io ?aaeecaoeee oneoa i?iaeaaaaiiai oaeoi?a i?iecaiaenoaa ?aaai
i?aaeaeueiui ecaea?aeeai ia iaai. I?e oneiaee, /oi e?eaay i?aaeeiaeaiey
oneoa ?ano?na io?aaeaao i?aaeaeueiua ecaea?aeee ia iaai, oeaia,
iaeneiece?othuay i?eaueue, aoaeao niioaaonoaiaaoue oi/ea E2, aaea MR =
IN. A yoie oi/ea iiiiiieey caoi/ao i?iaeaoue LU aaeeieoe oneoa ?ano?na.
Aeey oiai /oiau canoaaeoue iaieiaoaey ia?aie/eoue caeoieo oneoa ?ano?na
yoei eiee/anoaii, iiiiiieueiue i?iaeaaaoe caoi/ao onoaiiaeoue oeaio,
?aaioth wU.

Ia ?anniao?eaaaiii ?uiea ia nouanoaoao ?aaiiaaney, oae eae wU > wM
e LM w*. Aoi?ie /anoueth yaeyaony ieiuaaeue GERV. Yoi – i?e?ino i?eauee a
?acoeueoaoa oiai, /oi a oi/ea A VMPL* > MRPL*. Any caoo?eoiaaiiay
ieiuaaeue VRST i?aaenoaaeyao niaie aeiaaaeo e i?eauee oe?iu a
?acoeueoaoa oiai, /oi iia iaeaaeaao aeanoueth e iiiiiniiee e iiiiiieee.

?en. 9. Oe?ia, eioi?ay yaeyaony iaeiia?aiaiii e iiiiiniienoii e
iiiiiieenoii

PAGE 5

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