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The direct effect of a commitment is its impact on the present value of the firm's profits, assuming that competitors' actions remain unchanged after the
The direct effect of a commitment is its impact on the present value of the firm's profits, assuming that competitors' actions remain unchanged after the firm has made its commitment. The strategic effect of a commitment is the impact of competitive side effects of the commitment on the firm's profits. true or false
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Foundations of Macroeconomics
Authors: Robin Bade, Michael Parkin
8th edition
134492005, 978-0134492001
