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pirex pirex
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7 years ago
Sarah buys little stuffed animals for $5 each. They come in different varieties. If the producer stops making (retires) a certain variety, a stuffed animal of that variety will be worth $100; otherwise it is worth $0. There is 25% chance that any variety will be retired. For the purchase of an individual animal, what is the value to Sarah of knowing ahead of time whether or not that variety will be retired?
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Microeconomics

Microeconomics


Edition: 6th
Author:
Read 489 times
2 Replies
And if you call, I will answer
And if you fall, I'll pick you up
And if you court this disaster
I'll point you home
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ChronosChronos
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7 years ago
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Nishchay Kumar

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#2
3 years ago
Thankyou
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