


 
 

 
 
 
 

















  
 



 

  
 
 
 








 




   

 






 




 

 equilíbrio
































 subjacente: implícito







         
















    




 
  
 


















 
  
 



 













 
 



 
 
 
   

 

  
   
   
    
  















   
   
   
   
   
   
   
   
   
   
   

   
   
   
   
   



   

   
  

   






























    













  
 
 
 













 

 




 
 


 



 



 


 
          
          
 
 
 
 
 
   















 













 
 

     


    
     
     
     
   
  
  


 
    















 

       

 

 


 

 


 


 


      



  

  

  


  


  

         


  



        

       

  

       


         
             

     
                   

   


  
  
  
 
 