Question: OR b) Shashank has the following utility function U - w, where W is his wealth. His initial wealth is $2500. He is going on

OR b) Shashank has the following utility function U - w, where W is his wealth. His initial wealth is $2500. He is going on a trip where she has a 50% chance of losing $1600. What is Shashank's 1. Expected value of the trip? 2. Expected utility of the trip? 3. What is the certainty equivalent this wealth 4. If insurance is offered at fair odds show that Skippy will fully insure ( read part A for the definitions

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