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（1）熟悉设备更新原因分析； （2）熟悉设备更新分析的特点； （3）掌握设备经济寿命的计算； （4）掌握设备更新的理论和方法； （5）了解设备大修理及其经济界限； （6）了解设备更新方案的综合比较

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Chapter 1 Introduction Chapter 2 Security Market Chapter 3 The Valuation of Riskless Securities Chapter 4 The Valuation of Risky Securities Chapter 5 Fixed– income Security

8.1. Independent Firms The downstream firm's problem is max(a-bxc-wT The upstream firm's problem is max(a-2b)3-cr The output is 8.2. Integrated Firm Suppose now that the two firms merge into one firm. This firms problem is max(a-by)y

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