QUESTION 1 Suppose that there is a 70 percent change that Firm A makes $5000 in profits and a 30% chance it will make $1000 in profits Calculate Firm A's expected profits QUESTION 2 Suppose that there is a 50 percent change that Firm A makes $5000 in profits, a 30% chance it will make $1000 in profits, and a 20% chance firm A loses $2,000. Calculate Firm A's expected profits QUESTION 3 Suppose that there is a 90 percent change that Firm A makes $2000 in profits. If it does not make $2000 in profits, it will make $1000 in profits Calculate Firm A's expected profits