Areal estate developer in the new jersey area purchases a large tract of land and plans to build an apartment complex equipped with a golf course and other amenities. the developer is targeting the affluent software engineers from manhattan who are looking for second homes. halfway through the process of construction, recession hits the nation and many people lose their jobs. there are no takers for the apartments the developer is building, as homebuyers look for less expensive options. the developer, dismayed at the huge investment he has already made in the project, decides that it would be unwise to stop the project and plans to go ahead with it. the developer's reasoning is consistent with the idea of

Afirm wants to hire a project manager (pm) at a salary of $100,000. 30% of pms have high ability, and 70% of pms have low ability. high ability pms generate $120,000 in revenue and low ability pms generate $80,000 in revenue. in addition to differences in productivity, high and low ability pms have different outside offers. if a high ability pm is not hired by the firm, she can work for another company at a salary of $80,000. if the low ability pm is not hired by the firm, she can work for another company for $70,000. high ability pms are also able to get a project management professional (pmp) certification at a cost of $1,000. low ability pms are unable to get a pmp certification (they would fail the test). the firm is not able to observe a pm’s ability, but is able to observe and verify whether or not the pm has a pmp certificate.(a) draw the extensive form of the game.expert answer