Assignment:
PLEASE READ CAREFULLY: Managerial Economics: A Problem Solving Approach. In addition, you are required to complete Group Problem G17-1: Uncertainty. As you are evaluating your current company, address the following decisions in your response (500 to 750 words):
G17-1
Describe a decision your company has made when facing uncertainty. Compute the expected cost and benefits of the decision. Offer advice on how to proceed. Compute the profit consequences of the advice.
1. What environmental factors and risks must be considered in the company's decision-making process?
2. Evaluate cost factors influencing the company's decision.
3. Determine strategies that would provide value to the outcome your company is seeking relating to this decision.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.