Question: In part c, please draw a diagram for explain Question 1 {10 marks) Penny is an expected utility maximiser with utility function v.03) = In(m)

In part c, please draw a diagram for explain

Question 1 {10 marks) Penny is an expected utility maximiser with utility function v.03) = In(m) and wealth of $300. Paddy makes decisions in accordance with prospect theory, has wealth $300 and value function: { mi where a: 3_> 0 11(3) 2 1 2[$)? where a:

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