Suppose a DM operates according to the model of search and satisficing we discussed in class. Let us assume that they view the distribution of alternatives' values as independent uniform draws on the interval [0,100]. Suppose they have done some search already and the current best alternative is valued at b = $50.

a. Calculate the expected marginal benefit of searching one more item. b. If the search cost is k = 20, what is the optimal plan of action? c. If the search cost is k = 10, what is the optimal plan of action?