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What is the significance of the long run

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1. What is the significance of the long run?

2. Classify the following costs as explicit or implicit. Explain your answer

IBM spent 1 billion on advertising expenditure

Jim who owns a trucking business, spends four hours every weekend cleaning his trucks

Alice used 50 percent of her savings to start her fashion business.

BHP paid interest on company issued bonds

Reference no: EM133082464

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