Question: 1. Is the following statement true or false? If possible, a riskaverse individual will choose to fully insure against a risky outcome. Justify your answer.

1. Is the following statement true or false? \"If possible, a riskaverse individual will choose to fully insure against a risky outcome.\" Justify your answer. (7 marks.) 2. Sue is a vonNeumannMorgenstern expected utility maximiser whose Bernoulli Cramer utility function u : R1 > R takes the form In (11:) % if (33,771) E IRE-+1 u(a:,m;C) 2 _00 1f (3:: m) E R1\\Ri+7 where m 2 0 is her expenditure on health insurance, a: 2 0 is her expenditure on \"all commodities other than health insurance\

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It would have become a big deal.

I havent been approved yet for the loan; Ill wait until aft er that.

Th ey will tell me I need all my original documents, and Im not sure where they are.