Question: 4. Consider the following utility functions given for two different decision makers, Decision Maker 1 (DM1), and Decision Maker 2 (DM2). DM1:U(x)=1ex/50 DM2:U(x)=1ex/100 a. Find

4. Consider the following utility functions given for two different decision

4. Consider the following utility functions given for two different decision makers, Decision Maker 1 (DM1), and Decision Maker 2 (DM2). DM1:U(x)=1ex/50 DM2:U(x)=1ex/100 a. Find the utility values for payoff values 30,70 and 90 for both DM1 and DM2. (4 P) b. Plot the utility values found in part-a for DM1 and DM2 on a graph and decide which decision maker is more risk averse. (10 P)

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