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Consider the following decision scenario: State of Nature High Low Buy $ 8 0 * 0 Rent 7 0 3 0 Lease 3 0 5

Consider the following decision scenario:

State of Nature

High Low

Buy $

80 * 0

Rent

70 30

Lease

30 50

*

PV for profits

(

000)

The maximax strategy would be:

Multiple Choice

buy.

lease.

rent.

low.

high.

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