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A long run want for a product extends the benefits of repetitive purchases, and resulting from this truth enhances its persistence over time. For example, for hundreds of years there was a repetitive have to buy horseshoes. Finally, different modes of transportation replaced the horse as one of many principal engines of human movement over prolonged distances, and the repetitive want for the providers of the blacksmith was severely diminished. For years, the answer to the long term nature of “smithy companies” was needed. However in the end, it was not needed.
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