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(c) [10 points] What price would you advise Mr. Buffet to offer, assuming you have no more information than he does? What would be his

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(c) [10 points] What price would you advise Mr. Buffet to offer, assuming you have no more information than he does? What would be his profits? (d) [5 points - difficult] Suppose consulting firm offers to determine the state of MPI's technology. What price would Mr. Buffet be willing to pay for this information? Suppose that Buffet trusts that the consultant's information will reveal the true state of MPI's technology, but Buffet has to pay for the information without knowing which state will be revealed

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