TABLE 17-2
the Following Payoff Matrix Is Given in Dollars $$\begin{array} { c c l } & { \text { Action } } \\\text { Event } & A & B \\\hline 1 & 400 & 700 \\2 & 200 & 500\end{array}$$

question 79

Multiple Choice

TABLE 17-2
The following payoff matrix is given in dollars.
$$\begin{array} { c c l } & { \text { Action } } \\\text { Event } & A & B \\\hline 1 & 400 & 700 \\2 & 200 & 500\end{array}$$
-Blossom's Flowers purchases roses for sale for Valentine's Day. The roses are purchased for $10 a dozen and are sold for $20 a dozen. Any roses not sold on Valentine's Day can be sold for $5 per dozen. The owner will purchase 1 of 3 amounts of roses for Valentine's Day: 100, 200, or 400 dozen roses. What is the opportunity loss for buying 400 dozen roses and selling 200 dozen roses at the full price?

• A) $1,000
• B) - $2,000
• C) $0
• D) $500

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Definitions:

Traditionalists

People or principles favoring traditional values and practices, especially in cultural or religious affairs.

Short-Lived

Refers to something that lasts for only a brief period.

Intense

Characterized by a high degree of emotion, energy, or activity; often used to describe situations or feelings that are powerful and extreme.

Particular Event

A specific occurrence or happening, distinct from other events.