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Microeconomics 13th Edition by Russell Sobel, David Macpherson, Richard Stroup, James Gwartney
Edition 13ISBN: 978-0538452281Microeconomics 13th Edition by Russell Sobel, David Macpherson, Richard Stroup, James Gwartney
Edition 13ISBN: 978-0538452281 Exercise 3
Microsoft stock rose from less than $10 in 1995 to more than $100 per share in 2000. Microsoft has made sizable profits but never paid a dividend. Why were people willing to pay such a high price knowing that they might not get dividends for many years?
Explanation
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The expectation of high profits in the f...
Microeconomics 13th Edition by Russell Sobel, David Macpherson, Richard Stroup, James Gwartney
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