The next 5 questions refer to the following: A firm is considering the decision of investing in new plants. The following is the profit payoff matrix under three conditions: it does not expand, it builds two new plants, or it builds one new plant. Three possible states of nature can exist--no change in the economy, the economy contracts and the economy grows. The firm has no idea of the probability of each state. The econom expands contracts unchanged no new plants $20 million -$ 3 million $4 million 1 new plant $30 million -%$ 6 million $6 million 2 new plants $40 million _$12 million $8 million 15-35 What decision would be made using the maximax rule? no new plants one new plant two new plants not enough information to tell aoow 15-36 What decision would be made using the maximin rule? a. no new plants b. one new plant c. two new plants d. not enough information to tell 15-37 What decision would be made using the maximum expected value rule? a. no new plants b. one new plant (v two new plants