Without referring to your utility function as sketched in Exercise 3, decide which gamble you prefer in each of the following pairs:

(a) (250)+(0) or (40)+(70):

(b) (400)+(-100) or (150)+(0);

(c) (1000)+(-1000) or (50)+(-50). Now find which gamble would be preferred in parts

(a) to (c), as determined by your utility function constructed in Exercise