question archive Four different government payment plans exist for farmers to opt into to secure their crops revenues
Four different government payment plans exist for farmers to opt into to secure their crops revenues
Subject:EconomicsPrice: Bought3
Four different government payment plans exist for farmers to opt into to secure their crops revenues. se plans paoff differently depending on market and wheather conditions. Use the Maximin Decision Tactic and the following data to determin which plan to choose. Use the Minimax Regret tactic to determin which plan to choose. offs Market Conditions Regrets Market Conditions Alternative Poor Average Good Alternative Poor Average Good CFAP 1 $30,000 so -$15,000 CFAP 1 CFAP 2 $15,000 So $2,000 CFAP 2 PPP $50,000 so $30,000 PPP PLC $20,000 So -$20,000 PLC None $O SO $0 None Maximin Minimax Regret Payoff Choice Payoff Choice CFAP 1 CFAP 1 CFAP 2 CFAP 2 PPP PPP PLC PLC None None
