(c) What is the expected value of 7H, prots tommorrow? (Hint: If 7r}; is the prots the rm will earn if things are good, and 7r}, their prot if things are bad, then IE (71") = par}; + (1 p)7r}J. The rm can choose how much labor to hire in the second period after observing whether it 's a good or a, bad day.) Suppose the rm seeks to maximize the present value of its expected prots: 7r + BEL)