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Risk exists when
a. all possible outcomes are known but probabilities can't be assigned to the outcomes.
b. all possible outcomes are known and probabilities can be assigned to each.
c. all possible outcomes are known but only objective probabilities can be assigned to each.
d. future events can influence the payoffs but the decision maker has some control over their probabilities.
e. c and d
the most recent studies of lifetime medical costs of treating aids?ahave shown a significant increase in the estimates
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Markets are mechanisms for coordinating the set of connections of production operations
describe the process by which the market for capital and the market for labor reach equilibrium. what happens to each
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