He estimates a repair cost of 150 develop a decision tree, Ask an Expert

Economics

Q. Mr. Kuroff's refrigerator is not working properly. He is considering three options: Purchasing a new refrigerator, purchase a used refrigerator, or repair new one. He purchases a new one for $400, and it will easily last three years. If he repairs current one, he estimates a repair cost of $150, Develop a decision tree for this situation and determine Kuroff's optimal strategy.

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Business Economics, Economics

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