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A firm might be liable for $10 million if a lawsuit is brought against it. The firm judges that the probability the suit will be brought is 0.6. In addition, it believes that its chance of winning such a suit (in which case it owes $0) is 0.7. The firm's overall expected liability is:
a) $6 million.
b) $4.2 million.
c) $3 million.
d) $1.8 million.
e) $1.2 million.
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