Excerpt from Cost Structure and Period Rates, for Oil Tankers RS is not equivalent to the empirical market short - run rate because the market short - run rate may reflect at any moment of time market imper fections. We are here concerned with a rate that is based on the long - run supply schedule of the industry. It includes the minimum necessary return to guarantee replenishment of the required investment and also reflects the normal condition of uncertainty of employment. To the extent that no one will be encouraged to ...
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Excerpt from Cost Structure and Period Rates, for Oil Tankers RS is not equivalent to the empirical market short - run rate because the market short - run rate may reflect at any moment of time market imper fections. We are here concerned with a rate that is based on the long - run supply schedule of the industry. It includes the minimum necessary return to guarantee replenishment of the required investment and also reflects the normal condition of uncertainty of employment. To the extent that no one will be encouraged to invest unless he expects to earn the minimum necessary return on his investment, RS may be based on the long - run cost of the marginal block of vessels at the time the transaction takes place. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
