Instruction 17-7
the Following Payoff Table Shows Profits Associated with a Set

question 15

Short Answer

Instruction 17-7
The following payoff table shows profits associated with a set of two alternatives under three possible events.
$$\begin{array} { l l l } \text { Event } & \text { Action A } & \text { Action B } \\\hline 1 & 1000 & 1200 \\2 & 500 & 700 \\3 & 300 & - 200\end{array}$$
-Referring to Instruction 17-7,what is the optimal action using the return to risk ratio?

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Definitions:

Product Markets

Markets where finished goods and services are bought and sold, as opposed to markets for inputs used in production.

Government Mandate

A government mandate is a requirement set by governments that individuals or organizations must follow, often under penalty for non-compliance.

Employer Prejudice

Biases or preconceived notions held by employers against certain groups of people, often affecting hiring and work practices.

Discriminating Firms

Companies that differentiate among customers, employees, or others based on certain criteria, often leading to unfair treatment.