Question: 9. Let U be function given by the formula U(x) = ax + bal, x>0, where we assume that y > 0. The function U

9. Let U be function given by the formula U(x) =

9. Let U be function given by the formula U(x) = ax + bal, x>0, where we assume that y > 0. The function U is a utility function of a risk averter if and only if (a) a 2 0, b > 0 and y 1 (c) a 2 0 and b > 0 (d) ab(y - 1)

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