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Residents of mill river have fond memories of ice skating at a local park. an artist has captured the experience in a drawing and is hoping to reproduce it and sell framed copies to current and former residents. he thinks that if the market is good he can sell 500 copies of the elegant version at $150 each. if the market is not good, he will sell only 450 at $100 each. he can make a deluxe version of the same drawing instead. he feels that if the market is good he can sell 700 copies of the deluxe version at $110 each. if the market is not good, he will sell only 350 copies at $90 each. in either case, production costs will be approximately $40 comma 000. he can also choose to do nothing at this time. if he believes there is a 50% probability of a good market, what should he do? a. make the deluxe version b. make the elegant version c. nothing
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Residents of mill river have fond memories of ice skating at a local park. an artist has captured th...
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