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Show me the steps to solve . For this problem assume the food processor DOES KNOW whether the Dairy has tested high or tested low
Show me the steps to solve For this problem assume the food processor DOES KNOW whether the Dairy has tested high or tested low in that case, what would the outcome of the game be Would Processor make process its own milk, or purchase from the dairy? Would the Dairy test high or low? What test level would the food processor conduct if it did purchase milk from the dairy? Make sure you clearly explain your answers here using the tools of backwards induction you now have available.
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