Expected monetary value is most appropriate for problem solving that takes place when conditions are average when all states of nature are equally likely when all alternatives are equally likely under conditions of risk 5 There are three equally likely states of nature thich, medium, and low demand). If the large factory will post profits of $50,000, $25,000, and $10,000 under these states of nature respectively, what is the EMV of the factory? 550,000 525.000 52,333 $21,666.67 What is the difference between the expected payoff under perfect information and the maximum expected payoff under risk? expected monetary value economic order quantity expected value of perfect information OOOO PERT