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Capital expenditure on equipment is revealed to be only a small and relatively unimportant
portion of laboratory costs. Strategic consequences, qualitative operational effects,
and noncapital costs must also be considered in the evaluation of a new technology.
An optimal strategy can then be selected by discounting the costs and revenues for
each alternative strategy.
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© 1981 Elsevier Inc. Published by Elsevier Inc. All rights reserved.
