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Learning Goal: I’m working on a economics discussion question and need an explanation and answer to help me learn.1.Identify a situation that involves making decisions using expected value, and detail the different options, expectations, and payouts. Discuss the risks involved with those expectations and, if applicable, the payouts. Include in your discussion an explanation of how to determine how much information to gather to minimize uncertainty. Finally, explain which decision should be made. answer in couple sentencesthen reply to post below2. If the demand of the product a company is selling currently is relatively high, they should keep production levels at the constant rate. Looking at the past demand for the product can also be useful in determining whether the company should raise or lower production, or have production rates remain constant. If a certain product has been in high demand for a certain period of time, then raising or keeping the production rate may be a beneficial payout for the companyplease number your answers
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