12. (Simplico invariance) If the Simplico mine is solved with all parameters remaining the same except that
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12. (Simplico invariance) If the Simplico mine is solved with all parameters remaining the same except that u = 12 is changed to u = 1.3, the value of the lease remains unchanged to within three decimal places Indeed, quite wide variations in u and d have almost no influence on the lease price Give an intuitive explanation for this
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