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Business, 19.07.2021 17:00 shakira11harvey6

A peach farmer must decide how many peaches to harvest for the world peach fair. He knows that there is a 25 percent chance that the world price will be $3, a 50 percent chance that it will be $3.50, and a 25 percent chance that it will be $4. His cost function is C(Q) = 0.05Q2. The farmer's maximum expected profit is: a. $61.25.
b. 0.
c. $122.50.
d. None of the answers are correct.

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