The operations manager for a well-drilling company must recommend whether to build a new facility, expand his existing one, or do nothing. He estimates that long-run profits (in $000) will vary with the amount of precipitation (rainfall) as follows: 
If he uses the maximax criterion, which alternative will he decide to select?
Definitions:
Apparent Agency
A situation where a principal appears to the public to have granted authority to an agent, even if no actual authority was granted.
Expressed Agency
A legal relationship where an agent has the explicit authorization by the principal to act on their behalf.
Agency by Ratification
The process where a principal approves and legitimizes the unauthorized acts done by an agent on their behalf, thereby giving these actions full legal effect.
Liability
Legal responsibility for one's actions or omissions, which may result in the obligation to pay damages or perform specific actions.
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