Write a response to the following question. Under what conditions should a manager use each of the

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Write a response to the following question.

“Under what conditions should a manager use each of the following rules/options for pricing decisions:

(a) MAXIMAX rule

(b) MAXIMIN Rule

(d) Equal Probability Rule?

Also address the potential pitfalls of using each rule.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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Posted Date: Aug 16, 2018 04:20 AM

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Write a response to the following question. Under what conditions should a manager use each of the

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Maximax Rule This is an optimistic rule made by the managers when they want to earn maximum profit irrespective of the amount of risk included with it The biggest pitfall of this rule is that it invol... View the full answer

Intermediate Accounting

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