Question: Assume that Jessica's utility function is given by: U(D) - V17I where I represents annual income. She is offered a job that has a 0.3

Assume that Jessica's utility function is given by: U(D) - V17I

Assume that Jessica's utility function is given by: U(D) - V17I where I represents annual income. She is offered a job that has a 0.3 probability of earning $19000 and a 0.7 probability of earning $47000. How much would Jessica be willing to pay to Insure against the risky income? Answer: S (DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES, AND NO SEPARATOR FOR THOUSANDS.)

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