Question: (30 points) Please answer Canonical decision problem #3 Market Research, parts a, b, c, d and e. For part c, your hint is the following:

(30 points) Please answer Canonical decision problem #3 Market Research, parts a, b, c, d and e. For part c, your hint is the following: 1) what decision would you make and what payoff would you expect if you had perfect information about demand? 2) What decision would you make and what payoff would you expect if you did not have perfect information about demand? 3) What is the difference between 1 and 2?

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