People and firms invest in human and physical capital. Both types of capital are durable goods, the

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People and firms invest in human and physical capital. Both types of capital are durable goods, the benefits from which can last for many years. Entering into a credit agreement is often key in obtaining the funds necessary to enable such investments. How do credit arrangements benefit both borrowers and lenders?

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Microeconomics

ISBN: 9781292215624

8th Global Edition

Authors: Jeffrey Perloff

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