$0$ Consider an individual whose utility function over income I is U$($I$),$ where U is increasing smoothly in I $($U $>0)$ and convex $($U $>0).$ a Draw a utility function in U$$I space that fits this description. b Explain the connection between U and risk aversion. c True or false: this individual prefers no insurance to $($IS$,$IH $)$ to an actuarially fair, full contrac