*Perfect information*

The FDA approval process is highly costly and uncertain. How much more money could Merck make if they would have complete information about the success/failure of a certain phase of the approval process before deciding whether to continue the approval process of not? Construct a decision tree and discuss your findings.

Article: https://drive.google.com/file/d/1jvjWdwRzEAJkRhUmGDHK-ISLz-W2WWhY/view?usp=sharing Questions: https://drive.google.com/file/d/1eS0SlE280_-pnhO_9FNFebiO5h8AFnot/view?usp=sharing