Refer to the information above. Assume that ABC Inc. has hired a marketing research firm that provided additional information regarding next year's demand. Suppose that the probabilities of low and high demand are assessed as follows: P(Low) = 0.4 and P(High) = 0.6.

a. Which alternative should be chosen using the expected monetary value (EMV) criterion?

b. What is the expected value under certainty?

c. What is the expected value under perfect information (EVPI)?