Professional Documents
Culture Documents
. .
:
Junk Value
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. .
13.5.
( ...) 6.5.
%2.5
%5
%90
%7.5
20
350
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115
. .
Pay-Back Period
.
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n
i I 0
i1
:
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2 1
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Pay-Back Period = I /
= I
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A B C
2-
1-
()60
()40
25
25
25
25
()70
()30
70
20
10
75
()50
()50
50
20
20
50
. .
( )I/
:
N = 100/25 = 4 years
B C :
. .
100
)(100
100
)(100
70
70
)(30
50
50
)(50
20
90
)(10
20
70
)(30
10
100
20
90
)(10
75
175
75
50
140
40
. .
3 = B
3 = C +
:
= 3
= 0.25 = 40/10
B
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( ):
= 1
%25 = 100)41( = A
%33.3 = 100)31( = B
%30.8 = 100)3.251( = C
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120
18 ( %3)
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5.5
20
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Rt
C0
t
)* t 1 (1 k
)Return (net cash flow
IRR
Initial cost of project
= Rt
= *k
= C0
. .
. .
P = 40
TFC = 200
AVC = 5
QBE = 40
. .
:
TC = Q(avc) + TFC
TR = P.Q
TR = TC
P.Q = Q(avc) + TFC
P.Q - Q(avc) = TFC
Q(P-avc) = TFC
)QB = TFC/(P-avc
. .
.
QB = (TFC + ) / (P-avc)
P = 10
Avc = 5
TFC = 1OO
QB = 100/5 = 20
TR = 10*20 = 200
TC = 100 + (5*20) = 200
= 200 200 = 0
. .
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