1. A manufacturing firm sell a product for less than its long-term price Describe how this scenario can come about.
2. Your best friend is a manager at Julie's Bread. Describe the process a manager must go about when choosing which of three kinds of breads to produce and sell when bread uses a single oven with a limited capacity.
3. A decision-maker's risk attitude is how he or she values the loss and gain of a given amount of money. Explain the known three risk attitudes a decision maker takes.