A firm is considering the decision of investing in new plants.The following is the profit payoff matrix under three conditions: it does not expand,it builds two new plants,or it builds one new plant.Three possible states of nature can exist--no change in the economy,the economy contracts and the economy grows.The firm has no idea of the probability of each state. 
What decision would be made using the maximin rule?
Definitions:
Disinflation
A decrease in the rate of inflation, indicating a slowdown in the rate at which prices increase.
Deflation
A reduction in the overall price of products and services, frequently linked with a rise in the value of currency.
Recession Of 2001
A period of temporary economic decline during which trade and industrial activity were reduced, marked particularly by the bursting of the dot-com bubble.
Endogenous Factors
Internal factors that originate within an economic system or model and determine its behavior and state.
Q6: Which of the following are trigger strategies?<br>A)eye-for-an-eye<br>B)tit-for-tat<br>C)grim<br>D)both
Q21: Sport Tee Corporation manufactures T-shirts bearing the
Q34: Refer to the following graph.The price of
Q35: A(n)_ identifies the key threats to a
Q41: The managers of Alpha and Beta must
Q60: Comment on the need for flexibility in
Q67: Following the project defining and organizing phase,project
Q81: In an assembly operation at a furniture
Q82: A price-setting firm faces the following estimated
Q95: _ measures the frequency with which delivery-time