A small manufacturing company has in recent years encountered the problem of not being able to meet the increased demand for its products. The director of the company has to decide now what to do to meet the demand next year. The calculation of profits for each possible future situation is shown in the table below Alternative Solution Do nothing To upgrade its manufacturing capabilities Outsource part of the work to subcontractors Low Demand $ 50 $20 $40 Issues: What should be the choice based on the following criteria: (a) MAXIMIN (b) MAXIMAX (c) LAPLACE (d) MINIMAX opportunity cost Note: Profit is in thousands High Demand $60 $80 $70