Question: In this graph, the two y-axes represent payoffs. However, let's change that and-assume that they represent costs instead of payoffs. What would be the best

In this graph, the two y-axes represent payoffs.

In this graph, the two y-axes represent payoffs. However, let's change that and-assume that they represent costs instead of payoffs. What would be the best decision for each range of probabilities shown? (Please assume that the point of intersection of A and B is .45). A is best in the following range: B is best in the following range: C is best in the following range: 16 16 14 B 14 12 12 A 10 10 #1 8 #2 Payoff Payoff 8 6 6 4 4 2 2 B best C best A best 1 .2 1 .8 0 .4 .6 1.0 P(2) 1

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