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You're the manager of global opportunities for a U.S. manufacturer that is considering expanding sales into Asia. Your market research has identified the market potential in Malaysia, the Philippines, and Singapore as described in the following table:
Success Level
Big
Mediocre
Failure
Malaysia
Probability
0.3
0.4
Units
1,300,000
650,000
0
Philippines
0.7
0.1
0.2
1,100,000
352,000
Singapore
0.5
600,000
360,000
The product sells for $30, and each unit has a constant marginal cost of $24. Assume that the (fixed) cost of entering the market (regardless of which market you select) is $750,000.
In the following table, enter the expected number of units sold, and the expected profit, from entering each market.
Market
Expected Number of Units Sold
Expected Profit
$
If you were to enter one of the previously described markets, which one would you enter in order to earn the highest expected profit?
1)Philippines
2)Singapore
3)Malaysia
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