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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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Chapter
Section
BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 7, Problem 4TY
Textbook Problem
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If a firm’s commitments in 2011 include machinery that will need replacement in five years, a factory building rented for 12 years, and a three-year union contract specifying how many workers it must employ, when, from its point of view in 2011, does the firm’s long run begin?

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