Because of different costs of capital, equity financing and debt financing must satisfy their own required levels of marginal capital output.

由于资本成本高低不同，权益筹资和债务筹资必须符合不同的边际资本产出水平条件。

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It will lower the private marginal product of capital.

它将降低私人资本的边际产品。

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Telegraph lines presented a similar economic challenge-high start-up capital and low marginal operating costs.

电报线路提供了类似的经济挑战——很高的启动资本和很低的边际运营成本。

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However, some crucial tax rates were increased, including a hike in the top marginal capital gains tax rate from 18% to 28%.

FORBES: The U.K's Tax Hike Austerity Warning For The U.S.

Calculating the marginal product of capital is devilishly difficult.

ECONOMIST: Economics focus

And that the rise in the top marginal tax rate on capital gains will stop the flow of capital out of one investment and into another.

FORBES: The Fiscal Cliff Is Almost Everything the Democrats Want