外文翻译--公允价值的利率施行.docVIP

外文翻译--公允价值的利率施行 本科毕业论文设计 外 文 翻 译 外文出处 New York City 外文作者 Alfred MKing 原文 FAIR VALUE FOR RATE PURPOSES In considering fair value for rate purposes it is important to bear in mind that the determination of fair value is a part of the process of determining a reasonable rate of charge The content of fair value may therefore depend largely on our conception of what constitutes rate reasonableness It will aid to a clearer determination of this intricate problem if for the moment we forget fair value and concentrate our attention on the fundamentals of a reasonable rate of charge By reasonable rate as here used we mean the reasonableness of the rate schedule as a whole and not the adjustment of the various specific rates that go to make up the complete rate schedule It is the total price or compensation collected from the public for its entire service rather than the price for any particular service or class of services A reasonable rate of charge in this sense of a reasonable rate schedule is a rate that gives the company reasonable compensation for the entire service which it renders the public What then is reasonable compensation in the case of the appropriate and normally successful public utility enterprisesReasonable compensation is here equivalent to the normal cost of production What other basis can there be for the determination of a fair price in the case of a virtual monopoly If a commodity can be freely and quickly produced its market price will follow quite closely its cost of production This must be so because under the assumed conditions there could be no reason for paying more than the cost of production If a commodity may be freely produced but only by specially trained workmen a large fixed investment and great business risks the cost of production will still in the long run tend to limit market price It is clear that the production of a particular commodity will n