• Nenhum resultado encontrado

The Optimal Tax Rate for Capital Income is Negative

N/A
N/A
Protected

Academic year: 2021

Share "The Optimal Tax Rate for Capital Income is Negative"

Copied!
48
0
0

Texto

(1)

21L5U2 51TqAq Di4D[510W 513HM 5IO1 3TA51 XAT

JAMITO

1HT IV1TAD314 21 3M01M41

JATNA3

bbul.

.J

rlinn)I

OO

nbhoW

HD5IA3251 DIMOMOD3 'IO UA35TUH JAMOITA4

unvA

udosJ3M OO1 8 1 I

O

AM

ogbhdmi

V!QI liiqA

bn

inmmo3

liñ2u

iol

niM

quoiD xiT 513811

F

I

dmvoM

li

ni 2tnJ3qi3iilJ3q Anl3fli I

bn

obtoIo

lo

JivinU

MlsdmH 1nE2-Eimo1iIf3 Io

ii21vinU

fh

tnsqi3ih13q

mnim

rh1o

1ioqqu

th

bIwomI3E

I .noilExl3T no

r3jol

513814

di1o

rmq

i

airiT .noi1uti1nI

ivooH

.aimono3

3ilthJ

Iii rrmigoiq

uan

'513HW1o hfiq

i

iqiq

irLT .noihbnuo1

ni2

Il3noiiEfrI 3iffIono3

lo

uiiu8

I&ioiM

th1o

orli

ton bnI3 rodtuJ3 r1YIo aor1t

m

beiqx

noiniqo

nA

.f{31235I owl

b3x3

ol ion

1xi

lo

noii

tiod2

.b'rni

idgii

hA .bbul.

.J

rItrin)I

d

VQ I ©

i1on

© nibuIzni

tibi3

Ihi1 1irht

bbivoiq

noi22ircnq ii3iIqx iuorhiiw

broup

d

'm

rIq131J3mq .31UO fhJ 01

f1Vi

i

(2)

1 nqq(pooAGr uoLqGqn

uq 4flT

WIJOL cv ono

wuJoLq flU!AGLJA HOOACL IUf1WJOU KGUUGP F riqq

JJ 9AOL oi cdr1JbwCu OAGL 21L11C11LG

cdrnbwcu piu TOL couisiciou pi2 ]II2JUC qic JUAc2uJCu jix (p2CLIUJTLUUJOU

JuCLuJGquic ooq iuq counwbpou ooq LC tjuq ooq 2111CC O2GLAC uJqcnb2 JLG LGUGL J9L

x counuJbiou ooq mpicp jo cjj

OAC UJ1LJUjco pc qITJGLGUCG ia

crbij ooq ac

qJOL1OUrLA WXG2 JJAG IJ GLUC!CIJCA CO2 jJJG2G 1Lf1WGU pojq CAGU ft ' ! UGCG2JLA o JUCOLUC 1AJJJ pG UG!AG CAGU i bn bio LC uO XGq M?i LJ GAGU ft fJJG IIGLUTIAC

bracpG oLCbJWI ooq o OTG1 pCMGGU bucG uq uJnJU1 CO JJJG AGLG x ou cbrj coujbC!jJAc UJ4(G flC uq JJU PC obiwq wx IGUJ Mill GU o bLoAJqC r1p2iqrc2 OL C MG GXIIJJJUG qJG bLopJCw o obiu WXPOU 111 J q)JJ1UJJC GCOIJOIJJA MIflJ iUJbG4GCJA

VB2JMVCI

bflPIlC ECOUOWC2 1EF14° H51

vbLll IÔÔ

I4BEI{MOLriLJ

bCL 4O coot

KCUUGW F nqq

(3)

LG9f1J eJUC6 Ic flIJJGfJJG 11A9!I9P!J!A

o

jniub—nuj

1JJIGLCG1J4 UU9J)J O fl9LLO 9uq 9-J-l[9I4TU (JJ3) 1 911 JU91JC€ O IJGL8J

OJJ OL JIJç€LWGqJçG ooq L6 iIJJboLçIJçOLHJCOW6

ouc

ii€ mj

p? LGCGUIwLy OIJqJ2OLcJOUL?

iu q?wmc cououn JpG 2bGciJ

cou2iqGL-liJ}J qi2çOLçJOuL? XJOU c1JJpLçGq ftJçJJ 6JJJJG8 O qJ2çoL4JOuL?. coç iiu

irniuic

woq€j

o €couomrc Loiiçp uq qiaciJee Jç JmbpccioIJ OL

bojic? u moqj

GCOJJOJJJIC nic€L€2c u bbGL EG GX1JJJIJ6 !U1IJ4JAG LHmGU4 JIJ q?-ou o Jrnub-211m L€U6L2 4JJ6 LG2fIJ crrLJo2rrnJ

Do rrpçuçu€

b162€ucG o Jrrwb-211m L€1TJ2L€ opiron O!AGAGL

oj

pjçLmqjç€ ooq RpJcp 12 eojq c

r

biic€ poi€ UJL.IJJJ co8ç

nJqicçG

uj ooq i.€ xq u oBçmj bojic jUUCG COLLGCLAG 2HpeqGe

p€ LGbJc€q tiuçp j€ qmiu JuJ ooq q2çoLçou p compiuçiou p€ buucbj

2JJ0tA

cpç

1JxJpJ6 2G oj !IJ2ILHIJJ€JJc2 iA uGLwGqr€ ooq qJ2coLcJoJJ c11u

JLLJGG2 (i) XG2 oujA jJ1JJ

ooq2

JJO iu4GLWGqiçG ooq2 OLG bLGcjaGJ?

oiu pcj gop!u2ou (jo)i

€couq

cpG obc!mj bojc? qGLA€q pJ DJJOUq 11uq

p ir€q

ojjۍ

qjçoçoua J jnwb-rrm x ijpj 1p12 i u ojq LG2J1J

WLJG2 /AJJGLG bLcG

miuj co2 GGIT2G o mLJcG boiiGL 211p21q162 cu

LLP6 JW2JC 'q€ 12 JIJçfIJçiA€j?

CouJpiuiOu O tAO EGJJ-j(DOlidJ Jq6 JL2 u

comb€çiiou picp b112p bLjcG2 o cbiçj ooq poi miuj

coç-2npeTqiG2 jLIIJ2 brrLcp2€2 o cbiçj ooq OAGLCOIJJG qJ2çoJ4iou2 qn JmbGLc

Ic

qo

iioç x cbjj iucom€ pLçJJ6LmoL&

obçiiuj bopc? iu

jou uiu

cpc

JJG

obçiwj x bojic?.

J0L iucow& bnLG bLoe IJq cou2rrmbçJoJJ

q!acoLç!0u8 8rrcp 9 22ocJçGq cowbGçiçiol.r OfiL UJJu juqJu j

i€ GxLuuG

uçrn€ o obpuj

Ju q?kirniuc moqj t1j4p bL€Gx12çiu

€xçsu2I/? pc bLwLJ? fTU6L

p

o

o

p

GGU uj?€q

F IMJMODflCLIOI4

(4)

bb lioL ,uA bgbL on obiurnj wxJou in pGiL ci cJoun °L ucq€uJJc Ji4GLnLG nIILG JJV uicç 0 JJG 911JJ0L2 /AGLG !A9LG Oj p€ LG8uJJ42 1JGIJJ6L poo$ JucJllqGn

jjio biomu€u; €xmbjcn oj nncy

q pnnpJ J/piJ6 i

JJJ€LG L€ JmboLçuç drrp1JGLe 40 p0jJ GL0 JOIJ-LfuJ 4X LG211J

iJq

JUCOIJJG 2çLHCçIILG CJjJç4€ 2HC eflpnJqJ€2

!mbJGmGuc iuçGunGqiçG ooqe nnp21q1Ge iç orrjq bbGL

iioiJç o u

40

O LJJ6L

Gjiwru9çG ucGLmGqcG ooqn 2JUcG ii€ JU2Gq liJJ Oj

X1U

JJ€UJ 0L li}J9 f}JGA bLoqncG5 fl0RGAGL

bbGL npon

i uq

moL7JJA arIbGLJoL bGobjG OL tipç

om eocj€A couernubçiou iueç€q

p€2. JJG nimbpciçA O I1UIjOLIJJ COU2ITIJJbçJOU 01. bL€nffcp !1 !2

xçi0u pote€AGL cp6!L LmuGuce ojcGu JUOL6

obçwj

jç€LçnL€ unç€q

J,IJU?k IJ0L2 O bojicA LC42 JJAG L11Gq j0L COU2f1Wb4JOU OAGL IUCOUJG

OTj0li '"'M 1O1B

pA€q uçn ouc€ ii qobç

ooq

JJjo

LG2f1J2

jpL 4!WG-f1coUoUJoJ12 flIAI2çG2 uq bobHJçiou o JiJJuJçGj?

cJJJn OL OAGLjbb!JJ GuGLc!oU2 moq€J2 uq 2GbLpJc iTJ1 uq piqq (jg) 2JJOEA2

moqGja D!"°"q (J yçjaunou uq uquJo(Jgo) uq u(mgo) qGuJounçLçG

obmj cbçj ucom€ LG jn 6LO JJJj2 }J2 pGGJJ 6acpJepGq !u iq€ ALGç? o

2G42 O JJJ2çL1WG1J4& uq GdfTj 2oc1J iiq bLiAç€ LçG2 oj bLG€LGuc& iu bGLj€cfj?L COuJbGçJçiAG GC01JOW1G2 U6Ljj? IJq!LJ MJ}J

42G2

L62ITJ2 iu b€Lnb€cçJAG It[1flJ? 1TçJJOL2 A€ obçmj C0L JIJCOIJJG

uoç 66IJ ne€q uJrlcp u UCOWG

LtTm€iJcn pnç p€jbe o bri IJIT1JJGL O

JG opnLAçJou

cb!j IJCOUJG

x pn

12 1JG1AG

oon2 co o\

boGL WA€

2çLjJ1u imbjcou:

obiwj jou-um x ou cbiçj iucom€

JpJ2 bb€ couJpruGn

iii o cbçj rncoiu

tiuçp bLG8GUcG oj mLJcGc irrnç o cbiçj 12 GdrnAJGIJ4

o j\(j —

ou p€ bnLcpnG

cbJçj

oj cbiçj ooqn bGcijcjJ? 9 LG 0j L OJJ

IJۍ C2jJ jJ0li GJJGLc6q p?

j& opeGLAcou:

oj cbçj !ucouJG 12 jiG 2UJG n

ou

JJJG 0biJJJij JyX ffG 0L Cbi Iucou n

(5)

ijrç (j) piç GJJGLJGq O JJo.tA poçj qIjjGLGUçI9çGq couenmbçiou ooqa JJq

p2iC açLnCçlJLG J2 LOIJJ moqj O moIJoboJJecJC comb€çiçiou o DP!c uq

m comb jGçGJA ab6ciGq GuGLJ GdnJpr4nw woq€J o moiiobojiacic comb6çiçJow IP

LuoqGJe EJL2c tAG 2O/A €xcçj? poti mouobojiaçic qJ2çoLçou2 GC

jjocçou

GWCJGUCk LHUGU2 //G GXWJDG JJG2G JCCITGC ID tAO q?UJIJJJC GUGLJ GdJTJJJpLiHm iiijj bwqnc€ LGIJ UOIAC Rpicp m jç€L pocp }J€ GLO-qJ2cOLcJOu iiq bLoqncpou uq bLJAçG qecorruc LçG2 LG €drij pnç qJacoLçJOua LOW imb€LGcç combGçiçJou

4O COUAGIJ4JOJJI UJoqGJ JJJG LGBLGeG1JççJAG GU LUJG!AO4C IA!JJ imbj?

aocJJ

M6 qobç iJ HJ1JUGJA flA6 LGbLGaGDlEcA€ GUç jLUJGIAOLJ( plTç qq qJCçOLçJOUa q?umic GuGLJ Gdrnjipr4nm

pJ4GLmGqcG ooqa uq q?uJrnJJc GIJçLA m qGç€LWJUJOU o obrwj bojic? m GDGLJ GdfqJpLifIm RJJJ pOJJ JUGLmGqJG uq JJjooqa M6 OC1J2 OIJ }JG LOjG O

(Jogs)Gxmpi€q

objmj

inçp JUJbGLGCç combGçJçiou pnç qiq uoç

GAGL 4JJG OC1J2 JJ2 GGD OU IUCJcJGIJCG ID ccc UJOGJ2 JA!cp OIJJ? JJJJ ooq2 I,AJG2 JJJGLG p2 jao GGU !AOLJ ou obçimj tercp 1IJJbGLGCç combGçJçiou }JQtA-JDJODq—LLJGG2 iU2Ipç2 O DO AJHG MG 2çLOUJ? Lfl6 OLUJGL ID bbGL

VULLJGG2 2 ooq GDCJJWLJ OL IAG4JJ6L

qGAOIJ2 LG 20 JLG 92

LGLJGL qo€e uoç pojq GXCjA GCOUOWJCJJK 2flp2cIJc!AG dn€eçiou 12 tAJJGçJJGL iLIJOJJq—

cJ

iuiçwj cbiçj

ecocjc pJJG mflJA JJMGuoçGqCOJJqJcJOJJ2 JAJJGLG mouq_yLLJG62 ic boeiçrAG ID 4JJG 2JJOLç—LJTIJ tAJJGD cbçj IIJCOUJG Ia moaçjA dH2i—LGIJç GLIJ6 p? JJGLG 12 TOO0 O BIILG bLoUcc JmJJLJ? JJG obçiwrcj ou cbiç1 IUCOIJJG !2 moqijq IAJJGU }JGLG LG L61J2 }JO/AGAGL bLoqrrcçrou GWCiGUC?. 2ç1JJ opçnic tApGU ooq JJJG O4JJGL diTJiUGL 12 cJJG bLoqncou GfflC!GDC? LG2JTJç

12 ID iiçipçA fmcçJou !' tlpIcp C926 tAGJcp Ia pJJ ooq 2

u uçcLm€qçG

IJOU6LO RJJGD mLJcGça OL AJJ9pJG bopc?. JJJCçLIIIJJGIJç2 LG Jucombj6ç& OL i tAGJcp LGCçLJCçGq. mJJLJ? 'lODGe Gç j (J2)

po

obçiujj

LçG m G

DcGLmGqcG ooq xcoD qJebbGLa j, 4JJG aۍ oj

jia ooq

J2

!m0UqyLLJGG2 bLoqrrcçou GWCIGIJC? LG2JTJç JJJG 9LIJOIJq_ApLLJGG2 LJ1JG uaç

(6)

p6 JGA6J bjAiu €jq bbLocp

q€eu

couAGuçrouJJA BrL2nGq JJO1JmJJOLIU 2np2q? 0JA6A6L WbJ61JJGIJçGq 12 111 OLqGL JjJ12 IJJ?2!2 91.1JG2 8L0IJj WLU2 2}Jotha

cb!J ooqa 916 2OJ c ALJ6ç? o bLJc6-co2 UJLIIJ2 pGuc&

ccjzç€q q6bL6ciçow H0GA6L 6XIJJIIJIOIJ O JJG 6UJB1L1CJ tAOLJ 011 bLJcG-co2ç

0

CL6q12 ItIG 916 UJJbJiCiçJ? uJ2o iucJnqu 6drnAJGuç JçGLuçiAG2 wpicJJ JIJcJnqG

4ucçiou

cL6qiçe miq I0IJ6 q6bL6cou i.rij€e pGuc& pu ii€

(bGLjwbe 6xb6JJ2iu 0 JJ !UAG24IJJGIJc GXb6IJqcnLGe) pj IAJJ uwy€ 110 6226UJ

q2-j€ mu?. 0LUJ2 JucJnqru u HJA€21JJ61J

cLGqJc iJq

2JqX o cb!cJ iucomG ttonJq p u bbLobLç6 COLLGCçIAG b0J!CA J.JJ!8 2rrp2Jq? conjq JJ iJJ6LUJ6qJç6 ooq Ie6L6 GCçGq 2?uJJmGcLiCJJ2 pA UJ91J(Gç boiiGL cnJqoLm

211p-M6 cp€u q2Crr22 }J6 i11JbJ!C!0U2 0j OJ1L UJA2!2 jOL A91J0112 x boJ!cA 1221T62 C0UC6L1JHJ bLoUc2 4X OJJ GIJçLA 917q JJ6 coç oj

21Ip2UçJJ qiL6cçou 111 CPLGCçIOU GAGIJ MG 3JJJCG C0IJ2GLAç1AG 922JTmbpOIJ2

110 0116 6XLGUJG C26 12 LGIi2ciC 2OM iu GJJGLJ

obçimj x aAç€w woi

M}ncp ccoLqru 91uouq_J,qLLJGG2 12 enpobiwj OL iUçGLUJGqJçG ooqe 8JIJCG

o pnu cowbGçiçJAG WEfLj6 uq !mbo2u

UU91ICG pc€qCO22 bol!cA

pA jx€q coac8 JJGJJ JJG GLO bLojc LGG-GuçLA opobojA GuçLA €dm jipLuim 12 GdrrAJGuç GWCJGUCA coç o LGAGUHG2 12 io IPG rnçniçiou 12 CJ691 i bLoUc2 916 COIJ2JTUJG

jj brn€ bLoj2 916

9tAA OL MJJGIJ JJ6L6 12 L66 6UçLA OL M}JGU cpG JJJ911LWJ 2rrUJCiGuc 49X iu2çLrnJJGuc2 bbGiY MG 20M JJ9 12 GXCcJA 4LHG IA}JGIJ

o aiicp bLjAG

uq GxbJ!cc brIpJc 12 CJ026 40 GL0 MJJGU JJGLG 916 mBo26q X 011 bslLcpu26L2 0

ooq2 uq }wc JJG obc!UNJ x L6 uç

JJJG p2iC JIJJ1!4!0IJ 0 W12 bb6L 12 UJLJG4 q2c0L4oU2 cç jJjG bLJAç6JA

mq

L0J6 0 GIJçLA 22m1Jbçi0U2

JJ0M2 112 0 GXgLU1UG 1221162

X

0 A9110112 Jiuq2 o cbijj

JJ6 26C0U woq€j 22fflJJG2 piç L}J6L G1JGLJ 0LW 0L qi2c0LcJoU2 14

011€ tiçp wnibj€ cbj ooq uq bL66x2çu q2çoLçouB iu

JJ0Cp0Jr MJJ1JG

qi6L€u4içGq 00q2 JJJG 26C0U woq€j MG GXUJ!U6 2 WOLG GuGLJ

(7)

i so brbL on uii.nç boJ!c? uq J LccowwGuqfJou LG IJOç WGIJ pG flpiçfl4G

bLopjGm oj uJLJ6 boJ6L3 uq obçwJ

Jç qGmou24LGe x bojicK

MPH6 cy' uj?e pjo uq

uJoq€J2 nuq6Lj?JIJ ic i oJJJ? jiç cnç

Gcouowi6 &onjq coobGLøçG

pGççGL onjq p6 0 Wf1JçJ0ç6L0J 8rIpqA iorqq p€ p€aç i uuoAoc!ou bLoqffcJJ

o gom€eçicojj? bLoqnc6q GdrnbuJ6u q encp anpeqa OLG mboeGq I1T E'

OLIL moq€j rnqJcoç68 obçiiuoj Gdn!bwGuc enpaJqi€a tionJq qJ2cLmuo4G ID

JJJGLG 0L6 J2O 4L0q6 bojic?. imbjicoçou J6 JUç6LUJ0JJJ nJç6LbLGççJou CoIJ2frLUbçJOu ooq2

Ifl62 uc€ comboLJ2ou2 iiiçp oçp€i L€2fIJ2 JUqJcOçG cpc IIJJJ p pJoeGq

q2çucçou

juoj ouq rncGLwGqJocG ooq J2 0j20 mboLçou OL Jçc bojic?.

orijq pG obbp€q UJOLG J!p6LoJ?. UGM Gdfl!bmGu L6J0çA6 fr2€q GdrnbmGuç jp€

ID WOIJ

1cD

cLqç OJJq 4JJ0 }J6 obçJIlJOj ac u o oiuuJu €couom?.

brrLcpo2G o UGtA cobiçoj ooq 2npeJqG2 12 o IJJOLG bbLobLJoçG OOJ OL 6UCO11L0JU

poi€ i€roj nubpcoçiou2 jOL JD uq LONçJJ boJicJG2 M6 0Lfl€

2rIp2qu

6WcJ6uc?. pojq ojou boçp oa 02 oç 24GErq?. 2çoç€ JjJ6L6oL&

ouq tiuçponç 2ç6oq?-2çoç6 otçp ju boL!dHJoiY 20W6 L62JTJ2 COJJCGLIJ!JJ bLoqnccAG 9vq pj€ GAGL2. O}JGL LG2flJ ou ox ouq coj bojcA obbj? GdnoJJ?.

moqj

CJGOL JG L62JTJ2 }JOA6 IJOç}JU 4O qo 1A4JJ Op2GUCG o 2Goq?-ecoG LOR4}J

MJJ!JG .Loliçp IJJOqGJ2 li6 GXOIUIUG COUA6L6 e6oq?k 2coG orrçbrrç

ji€j

c

j31626 L62J1J2 0J20 JJOAG LU0U? !mbj!cocou oi obiu.roj bopcA u GCOUOIJJ!62

0LflGU2 o€u rr€q o 1ne?. cp€ ac

qoçou OL ncp GdrrbmGJJç-ocn226q bL -o!Açp bopciG2 KG62!0U 2cJUJITTfT2

0AOLo Gdn!bm6uc M6 WLJ1G }J62G O2GLA0OU2 COU2f16 0 IJJOLG LOJT2 oin-m€uç x cLqiç 02 JmbJGwGuçGq OAGL f}JG bo2ç AGOL2 COLL6CJA q2cLuJuoG2 !' cJJG COu2cLnCciou IJqI12çL?. i CJ026 pGJJJ cowb6c!cA6 jpI 2poti2 }J0ç

iuAG2ç-!AOLJC 2JJO/A2 4jJoç Gdil!bWGUc 1Jqf12çL62 JJOAG 2npaçOIJçiOJ buc€-coe IJJ0LJIJ& M}16L602

q6LAIJ ueç€q

LJT6 J6AGJ bjo?u cL!c6Lou Jj/II4JJGLIJJOL& GWb!14C01 JJJJG obcnuuJ jx gcc IOL Cb!J JCOJG ia

e

(8)

oL ØU4JçLIJeç bopc? JJJGcoIJuGcçiou

JJJ1 uçiLn bojic

qicnGq poJi

JJJJG 0JJ6LJo.rCJbLopJGJJJ !cP gop!uaoua irnJA212 e

iwbjicç 2nwbçJou cpc

LGbLG2Guçç1A€ €uç uj? 21JcjJ 9 OffL2 L0W qi2çLJpr1çJouJ rr€a

JU 1JA C2& ffopiLiaoJJa COIJCGLIJ2 LG p€çci rn A€LA qijGLGuç woq 2UG

J€JJU

molJobop2c 110 LGU2 4JJGU 41J626 COUCGLIJ2 LG 0j L J622 !IJJboLcucG

COUCGLJJ2 LG iioç JUA2 bbJ!cpjG J0L €xwbj& jx€q coç rib LO22 bLoje

o juucu

ripaq€e pA

/AtA JJG GXL wouobojA LGIJç2 H0M6A6L €26 drrGucG2 o 2np21qrni mouobop2ç2 !IJCOUJG uq o COLLGC bojjcA

pA cpi jA H61 cL!c!c!2m ocrre€q 011

ucouJ€ qaçLpiTçioiJ

cou€-IfTJ6L mJm opou goppiaou qabL6q p€ juuq oj 2ripeJqA bojcA

GwciGuc oribrrç

q6IJJJJq 4JJ6 U6Ei UJOIJObOJA onçbriç 1AJJJ 6 tIqJGLG CL02262 &1Se IAJJICJJ 12

cnu€

UJ0i€ rib r nJq UJL1JitJ L€/6Ufl6

M!cP

GJCr6uç oiibii4 MJJGLG J CL02262

H06A6L 2O 2lTp2iqA EJJJ cn quJuq

tJu boqnc€ A'A}JGLG JJ6 UJLJIJJLGAGLJIIGCJILA& circeUC drruçiçA j€ee

wouobopeç c!u q€wuq CriLAG vj rq uJLruJ coeç sc JJJ€ mouobojie

EAL2 86 LGCJJ }'0P!U20U2 1JI?2!2 o 2ripeqI mouobojreç ID }inLG J

M6 UL2 q2dfl82 }J6 p2!C JIJcfIicJOU fl2I1J 2OUJG 2JUJbIG qime 5 IHE BV2IC J1tLflLLIO14

IiJLJ62 0L Juç€Lw6q1ç6 00q2

flJq }JGGq 0 P6 W0Uq-LLJ€62 bLjucjbJG iueç bucG-coaç qJ2çOLçIOIJ2 JIJ ooqe LGUJGUJGL 2ITCJJ ooqe L6 0J6U eojq 1J UJbGI46CçJA cowbGcJciAG UJLJGf2

Ug1A2ie 0 4JJJ2 bb€L L1162 cbiç1 UC0W6

X OIl

bLoqricGe poçp bbLocp6e 6D6LJJA 92211W6 combGçJçrAG wLJcGç2 jpG obçimj

JJ JJqAqf1J ccoqp !JJ 0116 4JC62 L0W cp€ 6C0IJ0IJJA uoç pA E}JB 0116

! C0112Bc!011

qAoCçGe 6UGLJJA bb€j o qj pounjA

Jç re p€eç

o

H-2!m0u2 bbLoitcp:

GCOJJOLUIC JUCOIJJG COLLGCçJA uq

cpeCriee!0u2 eporqq 6 L60L6UçGq 111 0CJT2 111C0UJ6 X UgJA862HCITJJA bLoc66q

JpG bpnj jyx ITG tOL Cbci IUCOWG 12 IA6

(9)

b

E111LG j:

E!flLG .j: np2q!ua 9 ..ouoboI!af,

jp€ ObnnJ jx jç€ OL

biçj prcoIuG

d

wc

(10)

Q

sviIsVI

ai smoonl

1aiiqa

iol siaM xaT IamiiqO sifT

iarioiiioiaib

ni

bsxai

sd

iaum

ahoo

smoa

ii1asi

iii .asxai rnua-qm.ul SIa sisrli wo!sd sthinaxs I Isbom

sth

ni oh

sth

aa

iao

Ianiiam

svoda Use

aboo

Hall .noin{eal

riiisvaia

anoiiioaib

snit

sithohq

o

svanL sW .bssibicdue

sd

nao

aboo

ha

ion nsn{J nioiiiaoqmoosb farhi

lo

haq

iaill snlT .aisnlio sibiedire ol

isbio

ni noiiaxai n{iiw emoc sienl nioiieslJp

iarli

srumaxs ion ob

I

aboo

bsihqque

lsviJiisqmoo

xai

oi

sd

am

sviiiisqmoo nil bsouboiq 918

cboo

faith wel

'isboe

laiiicubnii nisbom

a

ni 9DflLC

ihishsqnni

ibiniw sbiosb

oi

ni'ii

oi

esmoo

ii

neriw air dlial noiiiumni

iuO

.cis)llam

moil

noiiiumni oiaad isnhiona

slui

ibiieals-seisvth

silT

.xai

oi

aboo

sviiiisqmoD wol

'lsviialsi

nliiw

aboo

lo

noiMxai 1sfva9rI iol

csiiia

eielana

muiidiliups

laitiaq

entxam

nIinl

sill

n{liw

cboo

sill

sd

ocla bluow saor{l isvswoH .briamsb

lo

ibilaals

aboo

lo

noiliaoqmoosb lcudoi

a

bnH ol casisqonl msse blirow tI .soubsi 01 maw SW .iori 518 rbii{w seoul bna

msiec

X81 lamilqo

na

iii

bsxal

518 inisnnzJ1a iuo

aislns

2991mM bits bnomakCl lo

oiol

sill lanli tnioq cliii

Ia

ci

II

Iarnuiqo

na

ni bexal Ion

sia

cboo

siaibsmisinr lanil

nibnfl

ixsrli

Isiqielni

01

sw

sniO nothoiaib

nia

nlliw enoilioleib 01

nn9b1o

Din{qa1ODiX9l ci

sIsfil

lanhi ci

mslcc

xal

sliriW

.aboo

noiiqmuenoo ol noilioleib

na

cmiii 9210W

nisd

cboo

slaibemisirn iii

nsiifis

sviloisboiq iisnhl

lo

siniasi

sl

a esican1qms

ii

noiiaisaxs

na ci audi lioleib

ion

hhiw s-HJIDInIC

xal

lamilqo

sill

einsrninicni

oiloq

lnisioffluie n{Jiw :lliiesi itiuiidi1tiip

laitiaq

lo

oiol

1ioiieaIs

svdalsi

sill

larli

csiaar1qms ocla II .floilDIJboiq sisflwon esiliofiasIs lanli

lriinvno

ci

ii

cseoqiuq

1110 iO'4 .bswaft

1sisvsc

ci

aialana

.noiiumni esslniM-bnionnaiCl cliii

isle

Ia svtTra

ol

eeclana

eselmM-bnornaiU bits noenido$1 sill asnidnnoD

isqaq

chiT SDniiC 51911 asilqqa

cia'lana

csshiiM-bnomaiU

sill

svoda

bsuia

cA .sljri

biidri

a

-il

xal

:slui slqinia

8

ol cbasl noilanidmoo suiT

.boo

slaibsmislni cia ci laliqao hlDe1isqmi isbnIJ bloc

aboo

lsliqao

lo

asibiaduc sonianfi ol

cboo

noilqLTiLrcnIoD Ian .arioilibnoo svililsqmoo rIoLiJ3xal

sill

luoda nunllon

a'aa

Ii iahIJDfiiaq nil .slui xal slslqmoD

a

ion

ci culT eloailcda wolsd alsborn silT

.aboo

rloilqrnriarloD svililsqmoo \IiD9h5qffIi insisThb

lo

(11)

= (

cs)

RJJ6LG 2 J9p0L 2J1bbJA uq

!a cou2r1mbçou L6G

0

00

jpG ooq2 fLG J20 C0U2ffW6 JJJJG LGbLG26IJlc!AG GIJ4 JJ92 Jlc!J!cA

q€uuq OL 6CJJ cbiçj ooq 12

GXB10 PGAIIA

'-°q ILP6

CE

2b6c!UccJ0u !wb1162 cpG 6J2cc!cA oj 140c6 q062uoç

ou s

JuJbpG2 C0UAGUJGU 2AIJJIJJGçLA wpJcp

=

O11bnc

o ooq

(\0 )

cbiçj

L6ç6

o

cbej 2cocj oj oog \ iTeGq ;o bLoqncG ooq JJ qGJJJG

2 BLOqJ1CGq pA J0L !ubnc uq cbiçj LGç6 y M6 y \ E [o i]

JUAG24iJJGIJç M6 22fflJJ6 C0UflJflJJ o ooq iuqxq pA E [o it

oncbffc

o ooq

ffiG JL2ç GX1JJJ1JG moqGr tAJJGLG qJ[6LGUçI9ç6q ooqe 9LG IIJ COIJ2I1IJJbçIOJJ i7q V DAMYWIC AIODE OL NOMObOI2LIC COELLLIOM

6di1JpLiLTUJ IJJOqGJ2 Npicp eiibboi4 L1T1W6Uç2

C6LJIJJA 12 uoç qGIJJ0U2çLç0U o fIGhT /(G U0Lt IIJOAG 40 0LIJJJ qAIJrnJflc GU6LJ

Jj16 q2Cf1220U 0 bLGione bLLbp2 bLGeGuçe iIJJ1içi0U 0L 0111 L6Bf1J2 prrc

UJTJJ 2 liLGJJ L6ç 2AIJnJJGcLiCJJA

qGcGLIJJrn6 IJJ1CJJ JIJBj ooqa woç pGAJJA 12 6u6LflA n imbLcçicuJ 20 U6C622LA 0L bopc!62 2CJ122G pGJOt& iWbJGUJ6IJçpJ& upGL62

coucp1qiu 4JJG JJJ4GLW6qiç6 ooq —

JJ

ooq q2çIJc4Jou 12 L01124 UJJq 40 fJJG 6LJJç!OU ic ft0LJC fl0R€AGL 0(11 p2iC IUçIIJçJOU 2661112 40 G JGCflIJ 112 L0IJJ 22ff6 pA IJJ1J Ag110112 2AIJJIUGçLA 22nmbc!ou2 uq tAG J6A6 pgç

(12)

I

I

viiBeT4 ei 9moonI

!aiiqD

iol

iS1

xaT IBm iiqO 9dT

tiIthr

8ir{t 10

ieqoiq

sA

eriT

.

mit

a

boon

lo

nocqrruano

sdi

ai

()

o

eief{W

-nq9bni

81 book

fba

iol

bnamth

noiiqmuanoD

lo

biiaaI9

dI

adI

ai noibrnc1

nenoD

bna

'tiLsup9

edT

.noiqrrwanoD 10

noiaoHs

bna level erlt bna

eiiq

lo

neb

lEiIn3

Ion

ldnmuaeiq

bna 'JiDilqmia iol bsrnnaaa ai

noiuti8du8

b

1Dzf

aale

e{i

lo .aThJaeI eILt

lo

ria

o

arii&tniam

ti

eii'I

.aeair

ow

of

ti

atuq bna

boo

eupirm

a

aeDuboiq

miii

rbn

b9aiJ ai fi eier{w amuH

iedo

o

boa

airli

ansi

bna

boo

ati

lo

boia

a

atauLba bits -flOD oriw

x,muano

o

boos

eti

lo

uqfuo

wen allea ti

bnoea

bna

noifDuboiq flu

lo

eDrIeada

edi

;8teOD tnemtau1ba

on

aemiraaa noiaIirrno1 airiT

.Ietaibemmi

i

emua aeftxeqoiq

run-nol

ei ieqaq aidJ

lo

airol

ed

exiia

efahqoiqqs

ai ateoD nerrthau[ba -ilqcrtia

a

LstiqaD 1o

noitaieiqeb

laDiarIq on eriwaaa oaLs Iliw eW .DiIoq

Iamiqo

lo

o

beqaa

bota

on ai

eierl

tar1

nimriaaa

eia

eW

.liiaei

on abeTIa ibiriw noiiaDfI

i€I

.niblothboa

iemuano

lo

anoisDiIqrrIo3

iaaaeennu

biova

o

brtameb -Iemi.JarIoD i1oqonom

aboo

eldaiicb er1f biova ew afrnii

ierIo

oi

bofa

erLt lo Iainei nimicaaa LsrLt erriuaea blifoD ew

vitanieIA

.(8@I woIuH bria 4801

elo

eea) meldoiq

edT

.arrnfl

o

Juqitro eu Ilee bna DiIoq eDilq 3imar1b

a

ot

hmmOD flBD ITtufi fiDse erL:t 10 9D11 erft uarLt aeilqmi rbii{w emuDuiuc ueIuam

a

emraea ew Mr{t ai

ba1

iejI

aeIam noitqmuaas Iauneu erfu bna

eiiq

eviuiueqmoD 1llaDii2iIoqonorn

edt

ai urrqkro unemnouivne

xa

emae erlu 5DBI cmiii

ha

aa

nol

cA .ielqrriia

id

a

woled

aieIsna

er{u

.nidhrta

no belIe on aarl qificuenwo

lauha

edu

eefai

bits uol emsa er{t ci

eboo

aaoua noiuuthadua lo '?tiDiuasls erli

adi

bernireca evarl eW .elqrnia

aialana

er{u

qeel

ou

Ino

enob ci aidi aeau noicbiibouq bits noifqrnuJano3 r{od er{u earc noibubouq bits noiuqrnrranoD uol aeiIiDiueale tneuellib rfuiw

eas

Lsuene erlu nI usilu noifqmiieas (eldanoaaeu)

edi

nblam

d

berisrbnu

hIaiuneaee ed bkrow

nioeuo1

euaibemueuni bits noiuqmuanoD

boo

Isnii neewfed elanimiuDaib eDiuq bluoD miii dDae .eau

boo

Irn3rlBnfl r{i iii bibuta

m

ibirfw

noiiip

qillei9nwo

.v

eaf

r1

moil

biida

111w 3W ,iLJ

(13)

o = ((c

)

+

cD(c ))

ooq

p?

p.me JG L2ç-oLq€L couqçou OL JLm

cpoic o c i

MJJicp poiia cp€ GJ2cJc!cK o LGUJ OL cbçj ooq p?. JLW 12

jOL JJ cb!cJ

0 =

—\(y.)

(j)

couqJcJou2 oL LW S2 cpoicG O G9cJJ 12

IAJJ€LG

2 JJG WLLJJ AJiT€ O 4}J€ eçOCJC O ooq O LW

LLJJG L24-oLq6L

'A(y

c y) =

+ b(c )Cs —

— i

+ (\('i *.)

— c1)

OL ULIJJ

uq br?e onç fl u€ç GLUJ1J2

6dn pojqGLe UJ6 HWIcOUJ

JLW JJç iç OLLOB2 qpc 4 JJG L9G O COAGL

LGUJ uq iiifs

r.uçJ .

idnp€q Lç€ o L€1TLW jG p624 n

ponç

iip€t

c 2

uçja biq p? LW S

OJJ6L ULUJ2 OL

=

0

max'

+

— —

uq

o uu2 uç cp uo/i:

2J€2 MpGu WU S 26JJ2 C 1TLU2 o onçbnç C01J2111U6L2 EILUJ S2 Op1GCIAG C1J0026

ooq S M}JGIJ ULUJ S LGIJ2 y nIJ!2 o ocjc uq ij(cV ) p€ bLcG o couenuJbçou

uq otiu6q p?. p.m nbboeG

i ruj Lç€ OL

y q6uoc€

'ç€ mociuç o ooq s ttpIcp ccnmr1J€q

cbj

IJJLJC€c uq cbçj Gdr bm€iç L€iJçJ IuLJc6c

n€ jj ocJJGL ooq !ubnc2 uq coInbGçGe up jj oçp€L ooq2 !u

cou2nmb!ou

r ooq e mouobop2ç pnç Jç

B u€u

bLicGa oj jj OJJGL ooq2 ECF IJLW

ECP

JLW2 4JJG 20J6 bLoqncGL o ou€ o ooq2 iccpooe€e

bucG (oL dnçi) o

3J JJJJG E1LID2 BLOP!GUI M6

GXUJU6 }JG LGBL626IJcc!A€ pme bLopJ6ur

(14)

9viia9M ai

moonI

18fiqD ioI 9i3}I

xT

18miiqO

dT

noiup

ataoD

9rIT

.

ot

bqasi

rliiw noitaitni9Thb

ot

ai&i

*iam

rniiq

er{t

19dw

()

((

A)\\

+

(

k)k)

=

.

oi

tD9qa1 dtiw noitaithisi11ib

o

aisi

*iam

emilq 9u{ 91fiw

rn!doiq

srI

aa1

Iaubivibni svi

zqx

dT

.1oIa9vnI-19muarioD

rf

T

..C

(

()sTh

\

=

K

o

qfrLal9nwo aid rio abrtbivib

lo

tai

iIi

ai sKI1

aaa

niq-ta31Ini

aid ai K ieu1w

i

xf-iss

9r1I ai

abnthivib

no

noiaxsi

b

thx

9th 81

jT

anIift DitaiIoqonom 3dt noiqmilanoD ai

ei

sw

af-isfl

srLt ai Cii aJaas

niaq-taIsni

no xrIut91 Io 118

ad

nuruJaas

ia

&W

.Iqqua

iod1

aid ai bnB M bsDiiq

boos

9rft

lo

5i9d

farh

brt

rrnil

r{

ni id9b

bn

iiup

bo tnuorria

&iq

isq

ri

blorl

atn9

ni

nirivno

o

13Bffl

1ia1

ai nothqrnuaaa

9b1t-on

9rlT

.irips

iii

sbii

on ai arnifi ai

hjoda

iriow

of 9varl 9w

niba

Ino

3rlT .lsbom

tn9a

9vit

nasiqi

airhi an18 1aiqaD otni abn,bivib ti5vno3

ot

tiup9

arnifi 13rLo io

iiup9

1i9r{t niaarb1Lrq91

r{t

t8dP rruraaa

w

19aiDxq

iom

!Io)

anoithaanif

989r{ irro 91rn 9W .alaribivibni ioI enoisDiIqmoD biova oI (b9DloTh9

ia

aiiiia

9Dribiov8-x

aer{f rio anoitididoiq

.aninoD

aiqaq

airI

o

18ithi9D

on

ia

rlDidw aid 18ubivibni 9viJn3a9iq91 &r{ iol

aaaa

10

irq

wobada 9d±

eon9b

,(

sI

w

II

e9aeitaa noitu1oa

()

(—c)/=A

-ibni 9rLt tar{ 9fW88B 9W .9moDrli

1atiqE

rio tflU91

lo

efwi

xt-it1

sd

ei k 31911w

lo

b9ailqmoD

ni9d

istM1 9dt 9rr1oDri1 n9fnfa9vni brie

iod1

rLod no

xst

aaq

Iaijbiv i1qqua iodaf

bn

bnrn9b

noitqrnuianoD

.viinp

9ta1oq1oD briB id9b 9iBioqloD r1od anoitibrIoD

3ri

Iaitaa

taurn .&— o

(15)

A(b'T)

jj ooqa

aJJ

em bLc& n€ coucjnq€

MJcPoJTc J022 o GUGLJI /AG CU CJJOO2G cou2mJJbJou ooq j G Uf1IJJGLJLG 2JUCG

c()

çiou

ooq

J/4rGLG y 12 }JG LGcG AGLG cbiçj 2çocjc bGL

pj

6dfnJJpLrrruJ

coIJ2rrLub-=,)=v='r

LGu4J

uq qJç

cgbj,j 24OCJ GdnJ2

j€ij

o

q€p-biu e€ç

o ubn bLoqcrcG

aw€ J€tGJ o onbriç ccmurijç€

jA€j oj

cbiçj oL

(j

— )_ yjj

1mb1162 fpç iu GdflJJJpLrnuJ vjjULUJ2

ir€ mG moirnç

LU poçjJ mLJGç2 OL JJ LUJ2 JJJGLGOL& p€ comiuou bL!cG €drrje mL!uI coç cJJGLW0L& q€uwuq couqrroua poi€ 2potAGq jJç

€jaçcç?. o q€awuq 12

JJ Oc}JGL JLIJJ2 OL 6dflibWGJJ LGUJ uq JJG BUJG bLJcG O JJ CO]J2JTIJJGL2 EHL

jj

couarimbçioiooq JJJGLGOL& u GdrnppLirrm JJ LW2 /AJJJ CJJLG 2WG bL!cG

dnJpLnur M6 JJgAG 2211WG 2?UIJUJGçLK IJJOIJ JJ LUJ2 jj

iubn

uq

/A}JCJJ !2 Cou2cuc-GJec!C!cA q€miq un.rccIow

=

6COUJ€2

1}JG COU211UJGL2 UAGL2G qwuq rrucç1ou (c

2WG jOL €cp ooq uq

=

A€c4oLo bL!cG& b !mbJ4U

ELOUJ cIJG2G JL8ç-oLqGL couqçou JAG CU 2OJAG OL

C IU 6LIJJ2 O '/ uq

(16)

(1—

(j

_D) =

iq

1I6 q6JIJ6 .LD 4O G b€Leouj c9c 011 iuçGLG2ç JUCOIJJ& —

mouobo!!2c!ccomb€4c!ou 61JGL€2 iJ !mbolcuuc q2coLçou

Lo226q iibpX

mLJHb cçoL (i —

\)_

EWC!6UC liO11Jq 26 .

= 1j

JJGIJC& c}JG

JJJI2 0LIJJ1TJ JmbJJG2 mrnW.uj bioqcrcç o cbiçj €dnje 4}J6 !ucGLG2c L1G

=

(1—

iipicp ithou !uThoe!u

GdrnjrpLJnm couqçou = imbJJGe

= 's(v ) +

)

= (1 —

(y(Y

())

C02ç6Gd11çi0IJ (5) IJq q6uJJJq Gd1rnçJ0JJ (J) imbji

t1LJJ1CJJ 2IUCG

2

COIJ2IJ JJJbJ!62 = Jj1626 €xbL62aou2 couJpJu€q tl4çp JJG JLIJJ2

=

c'(c)

+ (c) =

j_

li6

Jq

ULIJJ2) COUJIJJOU e}11qotA bLicG 011 cbiçj ( GdJ1J2

MJJ6LG 12 4}J6 A6L6 JOL 1126 CLO22 ULUJ2 JLOUJ JJ6 LUJ2 COIJBI1UJ6L 2J62 q€CJ2JOIJ

=

(j +)\(y)(,))

Y()4

E°1 ULIJJ2 4?6 2?UUUJGL? mbJ!Geo 2!uJbJG LGIJçJ qurnuq Gdnc!ou:

=

IA}JICJJ 111 4u1LU JmbJiG2 jrnç 4JJG IIJA€L26 qGuJUuq jJ1UC4OU L6J1C62

0 =

— 'I

nçijiçAo cou2nmbçioIJ

jjJ626 Cç2 jITLcJJ6L iiubjA bL!AcGepqotA AJ11G 0 /i6JçJJ 6cT1TrJ2

uiJuJ

(17)

81

9vi3'I

i

moonI

18iiqD iol e8$I xaT 1miiqO eifT I8tiq&

o

nhzJf91

tri

sr{t

eb11a

noiftt9qmoD DiiIoqor1om thrL aworla cloiaaeiqxs aidT

bn

rioiaxat

risewd

voIaria

iiio a9aiauL airiT

.

lo

etwi

xa

bnoDa

a

aa

rnaa

.3voda

n3mIJia

vitiufni

iuo

ni noifteqrrIoD 3taiIoqonom -9d 1ota5vni-muanoD

edt

fitiw

noitaup

bnsrnth !aiiqa3

ci

nidrnoD won

aquoi

iLtod

d

bDa1

iuti

o

sfwi

nomrno

eth

ai

tar{

niton

erioLtaupe 1oivax{

!O

eia

aeiutibneqxe

tnemnievo

arL

ernuaaa eW .muiidiliupe !aei efli eviieb

ot

:noitqmuanoD aiinim tuqfuo eLsupe fnemteevni

eia

eio1eierk (1 —

((I

!ci

I1

A)\

=

aemoed

(f)

noiaupe

ie!u

1emuenoD-oaevni erlt rrwiidiIiiipe iii (0)

I)(cv—I)

—)1.

A

bna

(!)

cr1 II bcra ¶) }o ecroiirrfteb erli rLtiw

deo

(8)

bna

()

&roLthipe owt er!T iodaf noitqmuenoo iol cLaq cnuiidiliupe Dirnarrb er{ enileb

f.

bna A 1o aeerthebnuod bna

lo

r!sq

Dirnafrvb

'na

io1

fuquo

bna IqqLI8 311 1IIaDiuiDeqa

afnei

eiuq 1o

eneaeiq

er1 ci muhdiliupe lo

haI

neiLsa iec{o edT

erteceiq

erIT .aienwo

iupe

d

abnebivib 1o rrnoI erIt cr1 betDeI!oD eriex Diieiloqortom

.rioisxs

boon

ibemierii

eniaa

r1oitqi1Dceiq aeeInilA-bnom,aiG erLt

aieIa

ainei lo nothiaoqoiq

Iaiene

eiom edf

betsienomeb

(fVQl)

aqiicsG

bus

i1i

bs1

cr1

noithxs

on evarl

oi

Iamitqo ci ti erLt eierL nerli

sws

bexat

eis

afIoiq

eiuq Ii

tsjft

Ibiii

.noibirboiq ci arrxuei

nieaeDeb

eiew e-ier1 Ii neve

eboo

eaibemistrri

Io eierI atfioiq

ewq

erL

enia

eierl

'!qqa

on

ceob tIuaei

aqu

esG-i1i

er{i

nbIaeqe

eec 111w ew ievewoH .cirrijtei niese1Deb

on

nOthiteqmoD tD91ieqfni

ot

errb

eis

.ablod

Iiiaei

emse erLf iCoD

Ianiiam

er1

ao

Ianiiam

eemii

1(

— 1) elsirpe

enq

bna

I

ci

eciq

9Dfl1

eis

eeer{T

.((I

iI)1

A)t

taupe

eRoiq

xst-eiq

fato

bus

muiidifircpe cr1 —

I

ci

bexst

nerli

bus

abuebivib as

rrift

er{t 1o aienwo er1 ot

bisq

rrnft

edI

lo

afnei e-xuq crnifi erL rnoi1 afnerniaq owt

aevieei

eio1eier{t 1oIDea blorlecuorl edT

etai

ec1t

ta

.abnebivib

xs-iet1a

ecLt bits IstiqsD

lo

Iarrei

ed

(18)

JJJG LG24LJCç!O1J 011 LO!AJJ O 18 42}JG fl2flBJ 0116 bLGAGuç b°11! 2CJJGIJJG2

J!UJII

<

=

— \(y

v(y i)) + & + v('ii j) + (j —

=

=

'i5o

O

IJJBX

211J1Jb4ou Bug BtcGL-cBx RLBG Lç€ jjJG obçim cx blopj6m GC0IJJG2

G

nç1JJç? fTucçou GxbLG2aGq 2 B rruciou o CHLLG1J UJBLJUJ rrrjiç? o

con-J1JAG2mGUç Buq p€ BçGL-çBX RG LBçG J2O jç iY I))

IJJ6U42 Bug comb6ççA6 6drnipLrnuJ bLoqncG p€ i..p€ BJc6L-Bx LGçfrLu 011 1JJBXJIJJI6 JJG q?JJuJc nçijjç? o LGbLG26ucçJA6 BG1Jç JA6U JiLuiçGq X

IJ2çLJT-rr JJ}J6 bçirnij Jjixou bLOPJGUY J6 ob4imBJ xçiou blopjGm 12

2npeçiçJTçiOU BIJJOL1 JJG C0U811Wbç10U O0cJ2 Bnq JGJ2JTLG

B22rnJJbçJOU Jç2 bLG2GIJCG BjGC2 JJGiçpGL bloqncçiou 1101 BIJA IJJBLJ1IBj L946 o pGJOtA .tAofqq pG 110 q1jGLGUc i li6 qg€q 0A6LU1JJGU 6xbGugcnLG Buq UJBJG JJG Jl2uTBJ

JGAGJ oj qGpç 12 bo2içJAG Buq 1ç2 2GLAJCG LGdITJLG2 qJ2cOLçJOLJBLA JJJG LG2HJ2 IJJCG }JGL6 BLG IJO OAGL1JW6U Gxb6uqiçnL62 tAG BIG B22JTIJJJU IJJBç 4JG JUJçJBJ mouoboj? LGIJç2 S\( vj

LGçHUJ 011 CBbicBj 11JAG8cUJGIJ1 y ug JUc0IUG 2L6BW li4J!Cp 18 B22OCBG IAJ 41J6 qieçupnçou2 JJJ12 GXbLG22JOIJ 12 JT2GIJJ aiuc€ Ic J21UH12GB pGçtAGGU couJbGçiçiAG bBAuIGuc2 mpJn coçj oizçbnç bJn2 uGç-o-fBx BCOL BBAluGuca Bug u€c-o-cBx qiqq6uq JJJG pouq GdJTBc!OU °H°'2 LOIJJ OP2GLABc!OIJ 4JJB qGcJç UJI12ç GdJTBJ iucGLG2c

=

— \(c.

j)) +

+

j) + (j —

iu)\(

()fi

g

j))

JjJ12 nubjiGa

i 12 p€ 2OCJ o pouqa

GAOJAG2 BCCOLU

(19)

81 9viJRsVI

i

sinoonl hiiiqs3 iol sJaJT

xiT

fBmniJqO srfT

i

rnsldoiq 21r{1

lo

nainotfimaH

sdT ((1 — ((1

ci

/)1

jA)

+

(i

&)s

=

1k

(—c)/A+

(((1 — 1)

+

(1

+

+

((1

/x

)\

.a

bna jA

lo

asDhq wob&18 eisrina1q sr{J

sia

& bna sisrfw bria

(

=

— 1)(cjT —1)

sriie

esxfi rb&fw ) won bsriiafqxs

on

svar{ sW sr{t ru

.

lo

noitaruimxstsb sc{i

nibx

sx

esaa

ow

eruimxs Iliw sW

.bsa!si

si

sW .9friODrIL

89i9fIf

moil tnisisThb stEi

afioq

xst

1180 5w

noiaioqioo

8 1o Saso eiioivdo ai

I

•rv

'IJrithnsqsbth

bsxfi ai

floiq

lo

r1oiaxBi

Iato

srLt arLf smrcaas !aIsbom l8Iimia isnio iii

e

1sborn aini ni atftoiq

ewq

sift no

sii

x

IBmitqo

sd

rLf

.c

iol soiorb

I8miqo

sift

enimxs

won sW .oOO1 aj

ioix

IBmiqo iico ni

iol

noiaisp9

sataoo

srft

sMi

x&t

il1oiq

bsxfi

a

asmooed rrueldoiq sift isr{t svifieoq 2i

bota

Iaiqao

srLt 1o soiiq wobarl8 oilduq sift

tad

svisadO

aoo

vonsbffls Iaruiiam

sdt

ai

\&-

tar{t bna

SViiaSn

i

fdsb

oilduq rio sonq wobal{2 rioiax&t lo rishiiid

soxs

Ianixam

sift aa nworn o218 Bi

\&—

mie

sr{T .ebnul lo

8

lo

2OD

savnq

sift

i

arft

I

!irps

bkrow 2bruJI lo

aoo

IaiDo2 sift

;(HM)

sLa

basta

silT .HJM sift

u1q

51J(ISVS1 10 iaI1ob sift 2lairps noftaxaf

lo

iallob

bna

iol anoiaasiqxs nrwiidiliupe sift nltiw bsruidrno risdw ruoiJaups

safeoo

sd

.msiosrLt ruiwollo1 srlt

abIsii

?A 9i81

X8

?aoIq

el

II

.

i

koiq

no

x

1&niqo

sT

.1

msioedT

izups

sa

bas

sr

cu

eiscu

no

sai

ii

1&niqo

si

\&—r

ti—I

— -oqmi nozi8up 1a19iui fiB noitaupe bnocf sili sfiiw91 ot ei beeooiq oi '8W

iqoiq

siom

cit

nt1BnB

bn8 inithanoo

Isbud

krnrnn19vo

9d

iol noiiibnoo sufBv in923lq 18111J811 9I1

fii

.13w&ua

mt3

ufJ bL9i eiubooiq

idT

.rn9Idolq 31li9mil9qO IILiJ1J8S1

(20)

JpGoLGm

2flGU nicoui v xq

i& obrni

A6 JJG OjJOftJIJ f}JGOLGUJ

mouObOJJ2çiCJJA combGçiçiAG 6dnJJpL!frm couqoU (j

Lt)\(y )

= RG

flJJ6JJ R6 COuJprnG GXbLG22JOU2 O 4JJG qqjGLGUçi8J GcT1IçiOU2 M14JJ cpG

uq 6 eob S€ coLLoi? cbçJ uq IP0L 2}JLG2

fl liGqGUG '1 O p€ 41J6 GJ2cicJ4A O 2ilp2çJçIlçJOU pGçliG6U (

uq

JJJ bLoq11cçJou

i—' i—

___

JJq 4JJGCO24G €diiçiou OL GCOIJJG2

J—Lll

_ J_LD

\_.))

cJJ€ 2UJG Lç6 C2& RG JMLAG Li jx€q pA

çxçJou

j

bGL2ouJ JGA6J rnq bLoUc2 uq Juç6L62 L6 flu6 liJJJUGX GX9IJJJU6 8JWbJGL 2çLJ1CçHLG rrbbo26 cpc 4JJGLG thGLG HO pfl2JUG22

2JTp2qA q2bb6L

.1U2ç J2OLJOITh ILL IIJçGLmGq1çG ooq 0U1A R}JGU 'J= 00 IJq L11 = q062

12 JUIJJc6j JJJJ2 UJcGJA iJJrI2cLcG2 JJ6 2L6U o uJouq—JfpLLJG6e bLopJpiçJou

2A2 OUG J66b2 }JG 2rTp2qA GAGU liJJGH JJG 2np2iqA

N4IJcJJ iorrJq GJiuJiuçG bLJc€-co2ç qJ2coLcioLr JJ2 12 drnçGLGUJLJWpJ6 21UC€

çJJG

bo

12pGiu mxw€q çJJG ob4uwj 2np2qA GdLwJe LII 0j çp Lç€

°!"I BOpCA !2

gJIIA2 2np2q E)U liJJGU

=

00

obçimj bojicA 12 ço Gjiunuc6 çpG mouobop2pc bricG qi2çoLçiolr

!2 2çLJJçOLRLLq ço 2JJ0M JJf JJG obçpirj x Lç€ ou bLoUc2 12

IU picp

GLO }JGU çJJG obçimj çx cowb1GfGJA uGrTcL9JiGa cJJG mOUObOJJ24IC bLJcG qI2çOLçIOJJ J JJJG obçiwj çx LG JU JJJGOLGW J 12 2IUJbJ6 Rçp€ GWC!GUCA co2c o çXçJOU 12

cO O%j1U2 2

u b .iciqw1.

bLoqc1c

JG L13

(21)

uq ou

L9u2I!ou bp Mp!cp ponq

cobG oj bb6L

eE1 "Pl pbb€ua LJ

P

J€J 0 OAGLIJW€U4 q€p

cPc

ItIEB=O uq

cowbGu2€q jpo arrbbjA R92 bGLGcçJ?.

OL

IJJLJ.flb uq mLJuJ GxcG2a pcILqGu (I'IEBY -k\ LLO rnq

j-J-IJO4 CJGL cp€ 2Hp2iqA 12 GCOJJO1JJ1CJJA 2.1J1C1Jç /I4TGIJ !/G 112€ LG2OUJG Aj11€2

dflU4!1J;!AG

ImboLiJuc6 MJJ oîzr. obçiwj

OLJTJ 12 cJ€IJ iç 12

2HC qJ24Juc4Jou2 LG AGL? rLuboLçu lu GJ1w1uç1u bLicG-co2ç UJLJU2

I1JGU4 IU tiqnCp C2G JJJGOLGUJ J 12 LGJGA1JI JJJGOL€UJ Gwbp2iG2 boiuç o qi2çxurI!ap PGçtAGGU

cxc!ou oj cbç !ucowG uq npeiqrçiou o

IIJAG2ç-26bLçGJ?k tLOLU IX11J rnA621UGUç IUCOLUG t4O2ç X 8?2çG1JJ2 LG 2J1IIJCJG1JcJ? UGXIJDJG 01. iuçJu oipj€ qGbLGcwçiou cLGUJGIJç .tAoJTJq J20 LGu1CG bLicG—co2ç UJL1U2

i€

iiA

qJ2çJUcJoJJ E°1. GxUJbJ& 2JTp2JqJJJJ JUAG2çUJGIJç LG 12 2€U21pJG 0UG MG 2JJJJ OCØ2 OJJ C1t2G U 0111. CJ12C112210U GJO/1 JJJGLG

JjJ€LGOL& JL24 C2€ o bLoUc2

iç€

om cbipij JJJCOUJ€

LG2OIJ2 jyx bopc?. ciJ uq qo€ qJjGLGucJG bLoJce uq cB!cJ 2ITp2qGa

JJJJ2 C2G 12 iucJrzqGq W0LG OL b€qoicj L62OIJ2 4}JIJ 0L 2flp2çJJçAG GCOUOUJC 12 2UJJJ

IJq

aijj

GJimrntçG2 2Ip2uç1J boLrou o mouobop2!c

q

11\TEB

i.€

2np2ccrrpJG

x LG 12 —\(j—_\\)1

tIpJcp

12 jao u€çii€

IAJJJCJJ 1UCLG2G2 qJaçoLçioU

I€!211L6 uq Cou2fluJbcJoue i cbçj uq JOL

12 2UJJJ 2JUCG 4JJ6 211p21q1G2 W11242 G urnc€q bLG2nwpJ?. p?k X1JJ J0L !IJCOUJ& ooqw JjJ12 qoGa uoç iUJbJ? }J9 JJ UJOU0b0J!2cC cpçOLçOUa LG 6JUJpJ426q ! IATEB

€dnj

o -1L\(j

— ) uq

GJ1LUHJ€8 }J€ UJOUObOJJ2çJC qJaçoLçiOU 0L cbiçj 12 €LO LçG OIJ poçp JUA€2IJJGUç UC0WG mq bnL€ bLojc2 12 IJGçiA& JJ2 12 LGL comb j€x €xbLG2eiow 0IJJG 2b€CJJ C2G2 UJJG J CJ€LGL U. I/IEB

I

\( o.t\

.ll _

'J 7'

fli

3G 2Gc4> 2G Gd1Ic2

(22)

cBbJiJ enperqJ

bjj o x LG2 pn; cpc iionjq j€ c L LL01J1 cp OCJIe o bb€L Oil cj

1Jn6 o

na€q fJJGLC co colubffcG 1I\!E8 ic ionjq pG OWGMPU

coiubrr

obçiwj q?umic v'qq1 OL Jolla J2 o Gwb!L!cTJ1? wGq jpot iibbj GJ9çJc!çJG uq jpOL mc 2npa4IJc!JJ?. LGqncG2

mouobop2!c qacoLcow ju jypj€ i ti€ anm€

GAGU 2JJqo/i bLJcG O; siU2 12 UOIJL1AJJ obçnirnj

L€2 iu

6xbGLi€ucG,

[

J] OL JWO2ç JJ €açimç62 O JpOL aiibbj? bL!cG—.coec LU9iJU2 uq cx

uoq€j tiqp ouj?. JOL

uq !2 }JGL€OL6 couu€q

o

obçimj x bopcA VIEB !2 UGLJ? cp€ 2UJ€2 4JJ€ UJL1UilJ GXC€22 prrq€u Ju

bLobLJç€ Juc€ GLG 12 oç€u ouj? euijj cbrj ooq qi2çoiJou iu

JOJJ-LfHJ Lç€ jJJ€LGjOL& LG2JTJ42 !U 'piqq (J) OL IJJoqGJ L€ LOJ1JJJA

b-ti€ qq cp€

bLicG—co2ç

WLU2

€xbpc!c LçG2

LG 4JJG 2LU€ 2 OL cowb€çJçJAG uioqG Ju piqq (j) tAJJGLG

p€jo Jp€ L1flJ€ OL Jt'IEB

!2

om 'siqq(jj jp€ qKumic €drwçJou2

6mb1L1cI JJcGLcnLG ou bucG-co2ç WLJJ.J2 (ftG liJJJ 2CH22 JJJ2 1J JJJOL€

q€-aoupJ6 AJrTG2 o \ uq

a1TuJ€

E [1 f] 4}J2 LU€ 2

p?

Jp qGçGLuJpJG !AJJ€çJJGL cpG obçiwj er1p2qX 12 2ruTUc9iJc n€ couibsiç€ Jç OL LG-bo2iiA€ o brrppc q€pc

2JçsiJoU iucouiç€uç iiqçp q?uwic piiq€ UJUCG uq

nsij couqiçioii o

C2€ 12 U 2J1L OUG O JOOJ 2JJJC€ onjq JJJbJ?. €AGL?4JJU 12 pG!u 2rrp2Jqr€q

IEBO

C2G

2 UO yAOLc2w 2OliW OL Cb!cJ ooq2 HOI6A6L JJ€ EB=O

UJilLJ€ sib WOL& cjrnu

orrjq

pp€L 2rrp2rq? JjJGLGoL& nuq€L

2sipeq€q

Lç€ -\(j —

ti€

pq aesiui€q

Cou2mJJbçiou OOq2 /A€LG

uq juj ooq wqc€ç ti€ ukonjq COUJG o

p€

W€ couembçiou ooqa mLJc€c pi OIIL uoq€j tiqçp €dnvj urnLJaib2 u

obc!uJ JOL

iosiJq p€ COIHJçGL mouobojieçic qicoLciou iu

2211UJ€ cjJc YIEBO U OJ1L IJJoq€j cp €J2çC Jp0L 2HbbJ?. WG J2O 6ç L6211Jç

U€J24!C pOçJJ 22JflJJbçJOU2 L€ uJbjsiaipj€ iJq j€q UOULOJ12 L€8siJc2 J itG

(23)

8k 9moonl laiiq13D iol

tS$I

xT

h3rrik3qO edT .1

io

8.

oie

81 atfioiq

aisJ1

xsT

LcmiIqO :1 9IdBT 0.1: 0

:11

(ooO]

Qj

1

:HaMt

11.— 80.— @0.— 01.— 01.— 80.— TO.— 80.— @0.— 1.— 8g.— @1.— 0g.— Ic.— Ce.—

L—

81.— 81.— It.—

.—

.—

c.—

@.—

r.—

.—

ic.— 0c.— T8.— 08.— C8.— T8.— 18.— CC.— @8.— 8k— 88.—

eaa

xa

afloiq

oe

erli

iii'

.einioq b iedrnrrn

a

aeJaiaii1!i I eldaT 21 'jbiadua er1

o001

21 xaJ aiiloiq

er{

rieriW .aewo1 21 bi2drJa er1

eedw

328D

emeixe

1aiviitrion ax

btadua

!amitqo erL brIoDe2

.Jao

Iaboe of riwob eDhq

aniid

bria aer1ir1 brLB xffi atfIoiq

0I

13 21 eierLf eier{w eeBD Dxtaimiaaeq iaom ecu rit riev0

.aeaa

taom ni

o

laf{ aesmnxmxle l1xta

biadua

lamiiqo

sr1

Di1oq

xa

lamiqo

edt

nola

00.1 at

.niiam

2oD-eDnq Ditei!oqonom er1

a

anoxtqmiJaaa

riii1qrriia

ecnoa ebam leborn iico eliriW

.noiiBie1q19inI

.O.t biaq

eia

evoda bnuoI ew aerbiadua edT .laeID 02113 9113 8MJJ23I thielaviupe

o

iedmun oela bluoD aeibiadjja easriT .1B229D5n ocI h89ID 21 arLT .eTOt8evrIi eIfi ot lqLtDelib -8iDelqeb ban ew 'Ii

io

ahb91D

xa

nemtaevni

lo

rrno

ed

iii arrrxfl

er{

at

biaq

ed

eaer{ eAam

orrna

ew !leborn elqmia airit nI .aelijberba noiiabeiqeb beIa1e1eDDa

noit

eaer1 e1am

at

au wolla Iliw

noihee

xeri

ecu iii leborn

laiene

eiom ecu anoubnitaxb .2flOitDnui8ib

aeatanomeb

'liae1o leborn evitht9qn1oD l1aDutatloqoriom DITternma elqrriia iirO rIi1etruJoD no

iiohq

a

atLrq

iloq

xs

lamictqo

taii'

.anioq

triatioqmi

o

ledmun

a

lo

eaneqxe ef1t

ta

neve 2te)hBrn boon latiqaD ni anoxtiotatb

enq

Dxtailoqonom erit halIJDxhaq airLf a9)IarrI lebom mO .atelmm

aboo

lanfi ni anoftxoaib ecu

nixavaia

(24)

2nbbJ 46ç 011çb114 a =

\(y

)

/A}J6LG

'

E

'

12

A6C0L o cbiçj Jubrrç2

JuA62çm6u{2 JJJJGL6 12 0116 cbjçj aocj.c tiq4p 26A6LJ cbrçj 11262 1J 6J2çJC Jp0L

J. J,Oq6J J6 221IW6 4}J JJ6L6 2 0116 ooq fJ26 OL pOçJJ coUa1flJJb1ou uq

uq couqnc

obçnuj bojjc?. /A}JIC}J L6 L01124 CL022 Jç6L1WçiA6 2b6cJUccJ0u2 O mLJc6ç 24L1TC11LG

L116 oj

bojic?. 3221162 p

bbLocp jwe

o

b€cicçioua oj JmbGL6cç cowb6çiçiou uq JJOM2 112 6X1JJ1IJG urncjs tAq6L uq coucjnCç JJ6 L6CJ11C6CJ om 12 61J6LJ bL62 upj?. L6bL6261JiU 26A6LJ jc6Lrn1-JJJLJ6 qI2çOLçIOJJ2 J2 uoç 015 ab6c6q usoq€j 0 IJJLJC6ç 2LflCTLG

oLm pnç 6U6LJ epJou jpij€

L611CG j0LW 2b6ciJcciou 0L bL6-6x12çiu

o

couJb6çJçi0u J1J2çGq R6 2b6ciA mj€ç qJ2cOLcJOue 115 2JIJJbJ6 L6qncGq

bojic jo ioiq w6-IJGoL6c!c combJ6xJçJG2 R6 qo uoç 20JA6 JJ? 2b6cJc 1JJ06J

/AJJJ J20 6XLU1U6 JJ6 1Jo1J-2ç6q? 2c6 JDGJJ1/J0L o bopc2 2 ti6JJ 2 JoJJ-L111J

qi2c1u1T2p p6çJA66lJ 211p21q162 () 2AIJ 111 6UGLJ uq &)oq-2bGcJc 211p21q162 p5 uxç moq€j ft6 jOC112 011 p6c6LO6U6!4!62 CLO22 cbciI 002 20

RG cu

2JJi0IJ iç JJJOL62 m9u? cçoe UL}JJCJJ /IG lio11Jq JJJ6 40 PL!IJ 111 40 q2cn22Jow

2?wnJ6cL!C MpiJG !c mqG p€ iuu boiuç2 lu

rmbj€ uq combI6c6J? L10L0112

ciCtTJL bç6Lu o bLoqncç qj6L6Uçç0U uq Oj!ObOJ?t p6JJAJ0L uq R2 eçL0JJJ?L

0L6 cOUJbJGX qi2oLçJou2 JjJ6 bL6A!orre 26CçJOU 6XUJ1U6q 2b6CqJC moq€j iiiçp bL-uxç 6X&UTiU6 o 0L6 6U6LJ uioq€j IMcjJ mnjcibjs cbiçj 20CJC2 911q boç6uçJJJ2

V CEIEW1r DILOE'LIOM2

6XIJJ1U6 IJJOL6 qcj€q 1221162 o obçim9

JJJ0U 0 4}J626 bomç2 0 20W6/A}J LUOLG 6U6LJ 2Jçflçi0LJ2 MJJJCJJ thJJJ 97J011L 112

L6 I!J cx€q rnsq JJ6 20CJ C024 0 rmq2 !2 jL6 M'

thlflIJGXç 6XUJJIJ6

6U6L-GCOU G2L6 alTpaJqJGa L6 dnu

JwboLu 6I6U EJJ6IJ bnL€ bLoç2

JIJc6Lm6qiç6 ooq 1126 12 enp2q6q

CJ6L a!11C6 6C ooq JJ2 JU ooq 1126 msq iIJç6LUJ6qWç6 ooq 1T2& IJq0UJ2 JJJG bfJujJ J9X I{ IOL CUbJf1 11c0W6 12 4G1AG 53

(25)

OL rnJqJ6LGJJc9çGq jpG ouj? 9ernnbçiou A€ 9LG 12

4JJGLG 12 GIJçL?L O L1JJ2 1 p6L6 9LG bnt bLojc2 G uJ9q6 ncp GUçLA cu

M6 9/G uoç anm€q x€q Uf1UJ6L o LUJ2 !u cç i ucjnq€2

boe2ppçA

922mubpoJJ2 COUC6LUJJJ coc01.GLL91J 01. OçJJGL woq62 0 0Ji0b0J!2cC

cowbGç-cj qçij2 oj

9LfLU€U2 p€joii J12 12 AGL?. JmboLç9uç

uoç€ pj pi uJq€ iJo

M6 wjc€ uo 922JlIJJbçJolJ2 9ponç €xcbç iuibjicjçj? uGc€229LA 0L c€CJJiJOJO!G2 9uq qqjGLGIJç 2OITLCG2 0j qi2çoLçou2

W 9L126 ttJçp qjGLGuc moqG2 O LUBGLjGCç combGc!c!ou qJjjL€uc

uq

moq€j 92 9U Gx9LubJG o 9 C0U29U qJ2çoLçou 0LIJJ(TJ941OU 9JJOM2 A9L10112 10LUJ2 4JJG b9ççGLu o qieçoçou uq

o cbçj 9IJ J9poL jy€

bLGiqon2 c9biç9J HJCOWG L9G JAGU c9bJc9J-2bGcJc uç LGflLU ou JuAG24LuGuç 4OçG GdfI9ç10U2 x pop %1

9JJoc9Jou o c9b!c9J JJq 1<

c9b!c9J 9jjoc9çGq 20 92

e9çr2

9LG9G couern.ubçiou cou21Tmb1ou 12 C

.

J2 9çGL-9x LGITLU c9bic9J 0L 9IJ

c) q 91GçG c9bJç9J 2OCJ 12 y 9L€9çG J9poL 2nbbJA 12

0L c9b!9J oj

s 40 LGqflc€ BLIA9çG LGçsTLu 0 J12i1J j9C0L S pA p€ j9CcOL combGçJiAG W9LJG 2L11CJTL€ OL }JG C9biç9J O0q2 C91T262 9IJ €dJTJJJpI4HIJJ qJ2çOLçJOU 12 9 IU 4JJ6 9JJ0C9çJOIJ O 69CJJ o cøbJç9J 2bciUc9JJA !mbGLGccJA JJJiLcJ 12

&ou

jucoiu€ o

s c9biç9ç M6 9J20 92211W6

L94G iY €couq rnqr/qn9je bA 9XG2 ou

c9biç8j ucom p€ L9G Y

MG 921T1WG JJGLG 9LG 2GAGL9J iucLmJJ€uc2 EiL2c J90L IIJCOUJG 12 uq UGç HJAG2çWGUç

9qJT2cmGuc C02ç2

onbnç oj cp OUG ooq qiqq pGcG€u coijemijbçioxJ e

2JJ0ITJ uoç jGCc OJ1L LG2JTJ2 LGI9c!AG UJOLG LG9JJBçiC 2BGCJUC9'cJOU2 rncoLboL9çiu o c9biç9J JUcG 0cm OCJT2 12 OU ;p€ Jou-Lnu x boJ!cA qJe pGJbf1J a!mbpUc9c!0u

GU2 !A!4JJ 9U 9LG9çG 2çocJc

o c9b!c9J

iijscp 8 9JJocuçGq OAGL

s

msq 12 4JJG J90L 1UbIT42 j922mu€ C9b!c9J !2 bnççA-bnççA !2 G9CJJ bGLoq

(26)

\(

=

=

uq

y:

1P0L 2nbbJ? cbçj JJocçiou iiq

cb!cJ UCOWG L€ jmJccJou2 o

uq cbiçj jjocioif ()

12

cpc

IJJOW6UçL?. GdrnppLJrrm AJfl€2 oi cou2rrmbc!ou

JJJG u€ç L€2J1J

o

JL2c-oLqGL couqçou OL cou2rnJJbçJoIJ JOL 2ubbJA (

( )

_stc(c)

=

g

coUq2oJJ2

2rIbbJ? uq cou2nmbçiou q€muq iu €C bGLioq 12 qGcGLmJuGq p2 L2ç-oLqGL JJJ€ 20J1JçiOU 2J2G2 pG iucGJ4GuJbOLJ EITJGLGdrrçiou

JGç '/ 2JJqo1e bLic€ o 22G2 joL 4p6 LGbLGauççrAG rnqJAqrrnJ

(c)+y(— c++(j _u))

1P€ J2

C. 0

wx \

)

c

JJG bLopJGm

r,Gc !3

JJ6

GL-4X

R6 LG 2 pOA&

L6bL6a6JJççJAG JuqJiJqrIj C62

JGLIJIJCHLAG8

onç q?iwurc jx€q CO22 o

oI!obofle!c LW8 uq L9G bpGuow6uou 2flC

4JJG CITLLGIJ bLic€2 uq XG2 Jy!2 2 uoç 1çpon 2II2IJCGlu bLçicLrJ9L iç LHJ€2 !mbGLGcc coiub€ qJ2çoLçJou qGbGuq2 2OJGJ?. ou 4p€ CJT1LLGIJ CçOL 2nbbJJ€2 uq JjJG 0biucj JX ffG jOL CbfJ JDcOUJ€ 2 MGfAG 52

(27)

erim€ cpc p€ bLoçe

LG 12

ruqGbGuqGuçJ? o opGL

LçG2

NJJ6L6

[J(

y) 12 W6 c6L-lx qrArqGuq2 (brn bLolJc2) LGCGIAGq p? pon26pojqa

I!mII

<

00

=

i('i)) + c + ix2(y )

+

H(-rn /1

)

=

=

j1

1JJx '.00 COJJLOJ bLopj€w

JJpLJfILU q?aimJc bçp uq Jou-LsnJ pnq€ pJucG Ip!2 !2 GxbLGe2€q

obçiwj

WX1W1G LGbLG2€uççJAG GU2 rrçijiç? 2np16C GCOJJOJJJA

ojjoiiju

u

bLopJGuJ COO2G2 €L-çx fCOL LGflLU2 uq AbG-eBGcJUc cbicsj

Øb4nrnJJ J,x!oIr D6uuG (yi)

jp€

obçimj

qkuwc bçGLu O X LU4€2 JJq

uGç-0j-çX CIOL LGJTLU2 LG JXGq

11J626 Gdrrçrou2 o Gcouom?. OUCG

couq

b€LeouJ2pqow bLcG oj cbçj OpG22

Y= \(v

u€çJuAGacw€iJc Gdf1J2 onçbnç IJJJUIT2coueriwbçiou

q?wmc €tojirçou o

p€ GxbL€eeGq €dnçioua EiLec

nbboe€ 4JJç

OAGL1JUJGUç C}J00262

bçp or.

bojic?JuaçumJGuç2 q6cGLUJIJcGJJq 2IJJOOçJJ

qeçoLçGq Gcouow? M6 NJJJ J2O 22UG

pG mow€uçL? GdrqJpL LG jocjjX

91.6 iuibjicicjA 9221JU cpç mouJ€uç9LA sdrqppLr1m nucçioue €xiaç iii

(28)

öThG IY6 flJG E!UIU 2J1WW1OIJ L1OJTOJJ 4JJ J

JJJI BLOCGqI1LG AGJq2 JJG 2W6

jmboeju UflLUJ bLcuf AfJ116 couqJcJou uq ujAju pG LGnpru iøbuw€prc bLopjcui

wot bLobGL li o

LG/ALIG fG pouq døiou u ruitj GdrIiou

JAG LG1JJGIJJGL u !UCLG12G 117 brn.€ bLoUc2 i pq

DGC622L? 4X prfLqGlr TU?. C2& LG2J1J2 pGJOIA LG Gg2iGL JTUGL29i7 1141617

co jrnub-anuL1J2GL2 jLOW 0AGLU1JJGIJ GIJç2 LIJ2GL IA}JJCp JUCL6O262 4JJG p2G VLJOcJJGL JA. 0 A6MIU Ic 12 bJTLG bLOIJc2 LG ill J0LLUJTJçi0JJ 2iIJJiJL !JJAG2cWGIJc IIJCOUJG IJq JAIG 1UCOIIJ& tAJJICJJ 0LW }JG 0GL COIJJBOUGIJç2 o cp

JJ 1UCLG2G 117 boç pojqu x€q

eç€ AUJG2 J(G2 JIJCOUJG 1AA

bLo2

J JA7JJ LGJ1CG AJf1G 0 }JG HW!Jc0U!17 IucfIJciAGI? JJJ2 OCCHL2 6C112G LGAGJ2 cpc iA.çjni tpicp iucLGg2Ga cJ bnLG bLoJça GLuf pojqiu pcGq bnLG JJJJG

LGAGJ2 IJ !mb0LIJc qGcJJ JUC6 \' < Ø

H"!Ic°1717

o =

(—Yv' +jj-

(o)

JJJG JL2c-oLqGL couqçou JAJçp LG2bGcç je

\=

i(k:

uq

cp C02G €dnçiou oL t 12

co2çG Gdfwçiou 0L 120

uq 2OJAG j0L cPG 2çç10IJL?. b0JJç2 0 4JJG coLLG2bouq1u 2çG-c02ççG 2?2cGmJJJG

y v('>'

))

+

&y + iv(y )

+

u(i y y))

'ix =(?)+(\(R'i)) —

C0Uq14i0u017 p0IJq2

2 G0LG JAG 0LW çJJG

0

çp€ bLopJGLu JJ0LJJ çJJG 0JT1JGIJG22

IPG 0bçiujj Jx g€ oL Cb!J rLJcoIu

(29)

8

9viia'I

i

moonI

fsiiqa3 iol

iJI

xaT IarniJqO 9dT riin-Jiode 91li '11aiJneaas ai (Q) noiJibnoD

dT

.ll0q

lsmiiqO

nu$I4iod

.anoiJaDilqmf eti -i9bi2noD t8111 9W .aerniJ Ha

a

Mod J8IJm rbif{w noitibnoD

Ji1amitqo

3r{T .bad 318 aJfioiq

iuq

ar1J l9dm3rn3l

w

ndw

booJel3brw 81

()

noiibnoD 3r1T JuqJico ill 38B31Dni

na

lo

3IJLBV Laboa

1ariiiarn

3(11 &\ —

lo

huboiq

n{J ak

rrne

Jaift ai ffl13

bnoe8

r1i

bna ni

3narb

1aJn9mom

a

oJ 3ub JuqJuo ni

enanb

r{i

bria (Q) noitibnoD 9r{T .ji' ni

snacb

a

o

3ub aJfIoiq

iuq

(Ii 9fIadD 3111 lo J803 181308 3111 9JJI8V

r1J

cd b33naIad 3d teicm

eriarb

xa

a

oi

31Jb

irqJuo

LIJX3

lo

3IJIav 3rlJ ar1J

aaa

w

aJfloiq

31il

beDub9l

9narb

x.a

a

Ii

31qmax3

io'

.Bk1o1q

ircq

no JDaqfrIi 9fIJ lo b3a91Dni snar{D xaJ

a

II

.JuqJuo b93ub31

i

31911W tnioq

a

oJ 119V3 Ji 3IJ21IJ bliiow

aenni

bluow

narb

I3rlJluI

a

rI9rLw 119V3

qo

bluow Di1oq lamiJqo 3r1i

af1oiq

911iq JuqJuo oJni '1Jr19 10 aeJai xaJ Iarniiqo iol 3DnatxoqcrIi erlJ

5Jar1a

1183 9W (@) r11iW .l9bom

1oqoi1o

laI.uDihaq

jn8

9ffl11228 Jon ob 9W r{uorL1 risve 2J311am DiJei1oqoi1o .31J2118311w I1aeID 21 eir11 arrrifi lo noitD311oD b9xil

a

b5rnueaa 3W 19bom

auoiviq

3flJ nI aJ11oiq 31JJ

lo

wofi r11 93ub31 'flaiJnaJedua 11kw 113111w

1Jn3

oJ b831 ob eJfioiq

3q

2jJonaJr1EJ8ni 3911

lo

9283 3111 15b12no3

JiH

11kw 3W .ablor{32uorl oJ

ti)H

-Jai

r1J a3Dubel rbirlw

0

=

fl

=

H

2911qm1 2UIT .0

(

L.

)ll

9191IW iir1ri, 33(0113 IarniJqo 3111 Ja 1sv5woH

.

rbs

iol

A\

(& — 0 oJ !(Q) noiiibnoD I3blo 3101919f{T .0 — Jar{J

ni1qmi

-v

ni 3V83(IOD 21 nainoJfirnaH 3(11 v iol (01) 0

=

1aJiqa

lo

noiJaDoila9l 9(11 tadi

nkae

aa b3J3lql3Jni

,d

aa

noilibnoD ah{T

.

11383

iol

9nadD

on oJ b891 bliioda

)k

9qJ

lo

laJiqaD no xaJ 1ani1a1TI

a

moll 2J1u231 rbidw alaiips 9n8f{D JadJ 919(1w

JiqJuo

IaJoJ ni .nrrnildiliilp9 1o 7an1rn13J3b laDol lo noiJqmueea 9(11 l9bnu 3lom rbum

82

1183 3W ioI no11ulo2

a

ai

1

Ha

lo

1OJD9V 9111 Jn3rnom

na

ia

b9xH 21 IaJiqao laJoJ 33fl1 11aJrI9mom

II

.ialiriia

ei ,

xham

3111 31o1313(11 ;slqtJkrm

'na

81 28

0

=

oJ

A

9DflL .1 — n Anai

lo

ak xiiJam

9d

9ian1fn19i3b 'disDol 918 andiliupe

(30)

combJGçGJ2. JmbGLLGccJ?. coiubGc!c!AG IU9LJGç2

JmboLçrnJcG °L bLoA!ao LGUJjIJ2 uAGeççGq LGd1T1L1IJ c}JG eojnçiou oj WOLG 2LGUGU2 4JJG ce€ LOL bLoq1IcçAG GWC!GUC? OL COIILCG

dirucrccriG

euiijcuc LP

LC

JJB RG IJGGq jj O JJG2G CçoL2 OL eHpeçuçJ bLoqrIcçAG

epqoIi bLcG oj nuqe GuçLA pw6La uoucxcJou °LbLoçe uq 2?UJJ1UGçLJG2 LG JJJGLGjOLG cJJGLG RjJJ G eipaçiçjj GAjBOU jLOW bLoqfrccuG GWciGucA ouj? ij 4JJG GuçL? C2G

C2G ic

iA jj bras bLoUce jmbj?;u ii(-

"

o

'u

LGG

G 8Wfl LOL 6C

iu

imbjAiu UGL bLoqrrcciAG 6c6uc?. jj

jp juj

GWcJ6uc? JpiLq q cp€ 2pqoii bLicG oj rruqe 12 euJJJ 116 eçjj uq cpc uJfTeç

o

cJJJJ&

uineç

jeo pG 2uJJJ uJbJ?!u

ii

cjoe€ co bLoqHcçt6

JJ LG 2UJJ cpGIJ

/6LG UWLJLWJ bLoquicçi/Jç2. €ij€cc AIOLG GuGLJJ? N6 JG22 bLGcJCG LG2J1Jç2 incjoric 6Lo-bLoç LLGG GUçLA GcoJJq jj bLGeGucG o brrr.€ bLojc2 priç qGAJ9ou LouJ 2?UJWGçL?

couJbGJJJu qGacL!bcou oL LGpç? cqoGe

LfJ6

JwboLçuç cçoi 12 uoç eerrmbçioua ponç JwbGLLGcc comb€çiçiow ffiJJJJG juuq oj 2?mIUGçL? re uoç

GjciGuc?. L€ecrjç /Mçponç LLGG GuçQ. uq iijçponç urJciu u?. bLçJC1IJL WG

p? (it) uq

u —

j

LuJ.c o jpJe couqiciou ic bLç1C11JLJ? aflLbLJ2iu eiuc€ RG ebGcqccJou2 O çJJG 4JJG \ LG

JU GdJ1JJGq jyie ic uubji€q

jj ie bLoboLçiouJ

i€ccoL O J2 eçHçJou iejJicp ftorrJq LJ2G 111 2?JJJUJ€çLJc LOL i! eçijj 92 201176 rncGLG2cJu JIJJbJJCçJOUC LJL2c Jj 18

e?unu€çuc uJçrx uq

LLGG GucL?

wbjcçoue LG mnqq€r. purç cp6 obçuij

couqçou

coujirnonej?. uGncLjju bL €xeçu qecoLcou2

qiecoLciou u

JJocçiou oj cb!cJ

uq enpeJq€2

6drrc6q JJJGLGLOLG i

2

GIJçL?

obçmj

bojic? b6Luqça uo bLoqncçA6

mrreç 6 bLoboLçiouJ o 01762 ajJicp e

21JJG e eXu cpc

ie LG

=

0 wc

2Ii. poi€

obcmpc? i1ubiGq (io)' JJJGLGL0LG JJG \.AGCOL

o LuJc —

tGcçOL oj jj j 2 uq ice mrrJçJbJGe UJLT2 GXJH2 eopTçroue o

(31)

Og

9viiI

a

9moonI

IaiiqD

ioI 9ith1 xaT larniiqO 911T 9r{t lo asih9qo1q

mn-nof

ri

ot

niut

w

.1iq

bmiJqO

nu$L-noJ

ai

iol

noiaup

tate

'ba&a

edT

.Di1oq

xa

Iamitqo

(AH5

+(T&\—c=O

jstiqaD

axe

moil

hiquo

aitxe

ed

lo 9JJIBv IaiDo8

er{

adt

2"aa noilibnoD

idT

aum

fl

— —

eijnvei

o

noitudhnoD

ai

lo

eulav Jabo8

ed

bna

AS\

=

etaa

'baeia

sr1t nI

.

nemeevni

lo

emii erLt

tnia

bernaIad

ed

a-bae

er{T .besi1aipe eia

sdt

bna

0

=

H

itne

seil

(auoenatciaieni) iebnU

sr{t

ebijiDrIoD 9w &

<0

<

sni

.('A1\

— —

=

0

o

aeDIJbe1 iioiJaiipe

=

9

=

IahqaD

eri

iii anoiiiotaib DfiiDeqa-9qt Ifa eio1eierLT

.

eqvt

?boa

IahqaD fIDB9

iol

-xaf ien on ai eier{ bna aexat IatiqaD DiliDeqa-eqt edf

d

beiIaitijen

eia

noiJaDoIIa 9V8f{

iIia

ew

ine

eeiI evad

nob

ew 3.1 .ntn

noI

erli iii fnernaevrii I&tiqaD

lo

riolia &IoliibnoD er1I IaJfqaD lo tirw

aixe

na

lo tDubolq Iaboe erli bria neewted

qa

erli Iarli

etate

rbirlw afflo1q

eiuq

no !aiqaD

lo

bsFIe IairierrtelDni

r{f

H

o

Ianoitioqoiq ed of ai

('A1\—c)

s

oala 9W .LatiqaD

lo

aeq

aoia

trIaianoD

i1artoitioqoiq

riomrno

a

r{tiw

=

T1X\

benarb

ai v

eai

xat

aa

nebffleni

9vitDubo1q

Ianiiarn

erli

arli

aefa

rbidw yDneiDifieril

evibuboiq

eiom rliiw

ftoiq

eirq

Iantiam

erli

oi

Ianoitioqoiq ed

ot

ai

tiiqf

no

lo

9nc18v Iaboe erli

oi

svliafei

ieia1

21 & ebrw1

lo

i20D

1aniiam

er{i neriw 3rli ea

ma

erli ai

Yi\

vn9bffi9ni

eviiDithoiq erli b

nia

erli iac{i 0218 eioM

.

iiloiq

eiuq

as2aslDni

xai

a

in

92B$lDfli

na

Ii

at

iarli ;iD9l19 iiloiq

1aniiam

er{i

lo

nia

.iuiqiuio 92S&IDflI rnLrrniiqo erli

ia

iliw

xai

srii

ni 528913ff na

.ainemiJia

uro

aesnamrnija rneioerli niwoIIo1 edT

(32)

ajorrjq p€ fr2Gq 2frp2qiG G!1C iUçGLuJGqi6 ooq 20 4}J }JG boaI-2np2iq bucG J0IJ-LrnJ IJq i JJGLG LG qJ2coLçiOu2 !1LJ21U jLOW imbGI4GC4 comb€çiçiou 2flp2lqJG2 JJJ6GUGLJbLJUCJbJ 0 4JJ62G LG2ITJf 2 12 iucGLwGqicG 0oq2 2JJ0J1J uoç G x€q iu

JMLEffbBELVLIOL42 VL4D OEIEBVrIV1IOM2 rmbjicçioua OL bojcK qGpçG

C!bJ& 2CJ122 jic€j? IUJJçflq6 uq 2çLJTCcIILG 0 4}JG obc!IuJ 2rIp2iqiG2 uq GUGLJ BT4UCBJ& CJL€22 combLeoue IAçp 4JJG 2ç9çC wouq-pLLJGG2 bLiu-IJ uJJB0Lçuç CJ22 0 2ITCJJ moqGJa p 2GC0U2 GJ0M MG MIII J1LU 40 1LJçGLbLGç1JJ LIffluI IJJ0GJ2 0 t0LIJJ iç 12 !f LG20UJG COJJ1GCçITL€ pGJiGAG crnç MG }JAG C0A€LG cuuoç LJ1G JJ9 fl UJOqGJ2 tAiçJJ qi2cOLcJOu2 MJJJ LGqHCG 0 q?IJIJJiC GUGLJ GdrnJip-combpc€q GXGLCJ2G 0L moqGJ uq 12 p€?ouq 2C0b6 o 44J12 bb€r jpij€ MG

210U 0 boJuç2 2JIJJ1JL 0AG jOL 2!UJbIGL woq€j M01JJ G JJJOLG H0MGAGL Ic UJH2 G CJIJ0MGqGq JJI2 boiuç JJJOLG drnruc!c!A6

qiacrIe-40 G 2L0U

LG2cLJCcGq GUçLA uq GLG 12 2?IJJWGçLA 26ç 0 COIJqJçJOU2 MJJJCp bbGL MIJJ UO p€ bLç o bojic? 0IJJ? MJJGU C02 0 1IUq2 12 JLG 12 2Hp2çUçiJJ? 0 JJOJq IU LGJJ4? JL2ç LG2J1Jç 12 2flJ !UcGLG2c!U 2!UCG Gdf19jiçJ0JJ oj qJ2çOLçJOU2

LGG GUçLA GAGU UG1IçUq1G cousbJGçGJ? //jJiJG UOUG 0 JJG2G COJJqIçIOIJ2 LG JiJGJA CL082 cbiçj 00q2 JTIJqGL LGG GIJçLA 0!. 2AUJ1JJGcL?. 0!. GL0 C02 0 jIIJ2 uq M!cJJ

MG nq 2pofrjq

qi2çoLçJoue Ill cJ cbiçj ooq UJLJG

obn bopc)

LG coibG

p ouiu -

iq

m

qk 2G O'3G

I1I3GW 1JLc?GU330L& mIqGL LJ.GG GI31K bLI qoi.o1I% o cbw WOCWOB

ci obrnicc x bopc). Gdn LU bLoqncc oi cbw WCI.0

qoo

u1.c (y' i

iiux q jj-

= ul

OL w s %3G13

ooq (ji =

oY 01. 3G C02 0 IJIIJq2

GL0 01. 3G CM30OK uq bL-Gxu

GLB3BJG

JU3G2 3GLG 2 1LGG iL). uiço ?G LCG'.2 I0L cb1

LJJ6OL6UJ y22crniG %IG GdIflppLiIlIJJ iuiq

iwx bopc i 1oc).

JJJG ObfJLUJ JX JIG OL Cb!J IUC0WG 12 L4GfJAG

(33)

9viia9I4 ak 9rnoonl IaikqaD io1 9i&1I xaT l8muiqO 911T 2ir1 wod 821J321b 118112

w

r1oib3a 2ir1t ciT

.boo

9th

O

80D 181308 9th

ot

L811p3 2k 8noiat91q19tni BIJOfl8V bnn rioii8Ir19m91qmk 1o 2911381

i1ua9i

eiioveiq riliw

8318O3

.aUijaei 9th 'to bluow

i1oq

f8nukiqo 11ic1

sth

rfiin9me1qmI

.azu9ldolq

r1oiifin9m9IqmI

.t.

Athb3m1ini

rbs

'to

qitham

sdi

lo

msrnasm

9th nu1iup91 3iiarn91do1q sliup 3d .29nSf{D Xi31

1uhei

io't noiiBbrwo't 9th

sd

11i12 1183 aka'1aria aith 19v9woH

.boo

beb33n noilamiolni 1siii1D

iom

r1T

.'3i1oq aith In3rnslqrrli '11aitiaq Ilila

na

9W

beiii

9v&1

ataimono

riaM

.aniiam

IaoD-93i1q 9th

ia

a9wi

'biadu8

3111 3200113 ol 911103

8ffi

'rli

91 idw ;(wol9d 21I1J891 9r11 aacIDath 11kw sw)

arniam

329th 91L1889

ol

r{i

nithiw

Id8ijla

9flO 183(1111391 8 21 321319X9 9th 8I9W8fl8 1f1319Thb taflW9mOa ol 2tk 18111 1111813 01 1118w 11kw miff 11383

1ith

siril

al II

.1uaa9ff

.2.U 9th

lo

11iDaq8D 'I1fl3iDfflLJ2 b9nfI3b 918 29fl091a3 9111 Ii 19V9W0H

.niim

diri

8 M 1)108 31

Iuqluo

.8181) bshoi8kb

11D

ol

29311q ali 19118 ol Inaw 11kw rrna Iaubivibni on

Ibsioid

ali fi0iTi8 1113ff11113a91 9211018

8ffl

219111012113 211

29IJO

ii

larlI m1813 am1fi

a

oaIA 219ffI012JJD 119111

29IJ0

21111i1 ledffI9ffI au 18th

tnemiiia

81Ct2JJbni cia

bna

219mo1e1J3 12111111118 er{1 niD1o1n9 riliw b3Iac13 29kDn98 9th

d

1daiova1 b9W31V 3d ion bluow

ol

aiab

31m011039 bria

cii199nin9

29811 ift3ffltlaqsU 1u2831T 9111 1m1kmk2 .2w81 Jlnif{1

ol

1u8a91T 9111 iriaw 11kw rrrifl

d3a

.9q1

19288 iol a9viI 91d81391q9b 3nirnl9l9b 1118w 11kw rrrxfl 1ubtvibni on

hid

no1

heal ion 8901) e9DIJbolq hi hn9mqwp3 9111 larIh in9m9IqmL ol 9200113 Ion

am

8231fIoD r1uod1 (I9V .airli 9V3k19d

ol

ai9moIeuD 211 .aflOii8l9diISb 119111 uk Iriaiioqmi ci nothamloIrIi '1iJ2a31F

sth

noi1ai391q9b DkfflOfiOD9 rloiiarnloThi 18311111391 9th 93ubolq 1)11103 1u8ae1T 18111 sIdavieDrIoD ci Ii

ha1imi2

8iel8na

21111

d

b9ilqmi anoiIDeiib

sth

cii Di10q

xal

9bL1J oh

b9ben

.boo

bn3l9Thb 11389 110 'biadira ln9lsThb

a

3eoqmi bluow

3i1oq

Iamilqo i1kc't 9rIT —am 11389 ol 1n9m18911 noii8i39iq9b i39T1o3 9111

nivk

at aa

Iauj

jaDihDalqrni 21 culT w9't

a

olni

819228

11O1

ol

81 nOiiBiDeiq9b -101 rneldoiq erli svloa 9W

8W

911T .9nirb -time

a

noii8i391q9b lalimie 9muaaa

ol

91d8no2891 2k

ii

doidw riithiw 29i105183 f190b 113112 .e9ibi2du2 laliqaD 91830118 oh 1)9211 3d 1)11103

r1iquo1

(emae 9111 119V9

9d8m)

181

(34)

j€ij (€ piqq J2) c 1T1JGJGL Jçc 2JJOJTJ G

OL crj2o JJOçG

UJ p JG22 JJ9iJ GdrrJ oi.

obçuij GxbGuqçnL

fT2G CL€G JJG COLLGC 2LG O L€2OITLCG2 jjocc€q ffD piiç 2JUCG

LG O

miL€ç oL €cpuoJocJj?k qiucq €drnbw€uç ILP ID cLGqJç W

bnLcp2G 2np2iq? uoç qGA€JobmGul enp2q? Jiep1cp COLLGC2 bLJc€—co2ç rb ru

J2 LIJOLG bbLObLi1Jç€

OL 6UCO1ILU ID cP' 1D IX cL6qç jç 12 4}J6

J€2G LnuJuç2 poi

2np2JqJiu

bnLcp2G o u€ii cbiçj ooqe errp2iqi€2

a1p2q€a eponjq IJGncLJ!G

rwbjcrç ni bç€uç

4XçJOU rn

jou LIUJ o iucGLuJGqwçG ooq uq

€xbjcç oAGLuuJ€uç

JJJç6LuJ6qJç6 ooq2 L6J L62HJ JJ6LG !2 pG Lb IJG

2X2çGm 9 bbp€

o

COAGL 1ç2 jx€q CO242 uq 12 qou p?. bLJAçG Guç2 jpG LG21TJ

uoç JwboLçruç

irnq bu 2?2çGuJ

LGAGIJIIG2 om

ooq

o JuA6uçJu u Ju6LuJGqwçG ooq 2ponjq pG uucGq p?

o juj ooq2 jç

buucthj€ 22 pç u? bfrLG bnpjic ooq eIicp 2 pG xGq CO2

jpia 01 AGL coIJLqJcç2 cpG 2bLJç 0j JIJJouq-yJJLLJGG2 bLJucibJ€ jy€ JJJJ6L€OL6

bçsuç XG2 ooq2 J12GL2

IJIrnIJC6 }J6 pC6q CO22 O

JiJJJOA-OLW

O X L1JJ!U

22G22 419X OIJ br1Lcp2GL2 o ooq y bçGu 12 G22GUpJJA IJJOGLJJ ooq OL J!C6IJ262 G22GU4J ycç 2

bç€uç LU2

poJqGL LJpç

CO2ç2 JGIJJ€UJpGL !A}J buç !2

bç€uç pojq€r. cçnjj? bLoqncG2

4J0u2 o b€u-pojqu UUOAOL2 L€bJu cpG

bioç

UGCG22L?

Oj2ۍ J-'P 8'D

cbiçj CcmJJnjciou p€cowe cJGL6L fTbboeG

jJG UNLJCIIb2 LG liiaç muJGeç-boa2JpJG 2OITLCG2 O WLJ(G bo€L LJO1JJG OL 811p8JqI1IJ CGLçJIJ JCJUcJ2 O

Jmbflcw!ou tL ff66C uq

DGA6Iobm6UcbOUC JIiJJGU RG COIJ26L qi2cuJcciou GdrnbuJGu uq 2LJTC21TLG2 18 OLIG MJJICJJ CJ pG PGUGUCW

uq Morrjq açrjj GUGLG 2J1P2JJçJ p6uG2 pGJO/1 liG

LHG

cpG 2JIJJBJG

osTbJu2 uofrJq GJiWiIJçG IIJCGIJ!AG2 ii? 0116 ULW IJ2 qe4OLç cJJG qç 1JJ?2J2 JJJG 0bf!W1J JUX I{WG tOL CB1J IucomG r

Referências

Documentos relacionados

Apesar de tudo, unidades do século passado como a Fábrica de Salgueiros, Cortumes do Bessa, Lanifícios de Lordelo e Jacinto, continuam a laborar nas suas instalações

Strong features of 4AT are: brevity (generally &lt;2 minutes), no special training required, simple to administer (including in people with visual or hearing impairment), does

Entre esses factores destacamos a dificuldade de apropriação (ou da exclusividade, significando que um bem é exclusivo se o seu proprietário usufrui do direito de impedir a

Para que fosse possível a realização deste estudo foi necessário a autorização dos encarregados de educação (Anexo 3) e deu-se conhecimento dos objetivos de estudo aos

The proposed recommendations for improving internal communication were grouped according to the four main issues being addressed: a) publishers and users are not extracting the

No entanto, os principais resultados obtidos, que exaltam a potencialidade das relações sociais no risco de desenvolvimento da depressão; que um período mais extenso

A apresentação da proposta que levou a realizar este trabalho é que pouco se comenta, no setor de Telecomunicações, da necessidade de se ter um Sistema da Qualidade

Analysis of sequence conservation among six vertebrates of variants identified in candidate genes possibly associated with DISH/CC phenotype... Conventional PCR