Randall T.D. and James E.C. Spence, a professor of economics at the University of Missouri at Columbia.
The study focused on the question of what constitutes a “fair market value” for a large number of securities, and found that the price of a certain stock was only slightly lower than the value of a comparable security.
The researchers found that a $100 stock that held a price of $1,000 could yield a fair value of $20,000. The price of a $50 stock held at $1,000 was a little lower at $500, and a $100 stock held at $1,000 would yield a fair value of $60,000.
Their study,
Dona
What is it in the picture? Plant?
Julian Randall
Whatever you want it to be