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If He Feels the Chances of Low, Normal, and High

Question 89

Multiple Choice

If he feels the chances of low, normal, and high precipitation are 30%, 20%, and 50% respectively, what are expected long-run profits for the alternative he will select?


A) $140,000
B) $170,000
C) $285,000
D) $305,000
E) $475,000

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