Please answer a and b. Thank you!

2. For the following questions, the starting point is a strictly concave (i.e. strictly risk averse) utility function u : 10, 2000 R that you draw free hand (fine pencil and graph paper advised) (a) In each of the following comparisons, identify the gamble that is more highly preferred, and illustrate your reasoning geometrically. i. 81,000 for sure vs. [(500;0.5); (2, 000; 0.5)] ii. $1,000 for sure vs. [800: 0.8): (2, 000; 02) (b) Identify the certainty equivalent to each of the following gambles, and in each case illustrate your reasoning geometrically. i. p- [(1,000;0.5), (2,000;0.5)] ii. q=(500,0.8), (1,000:02) 2. For the following questions, the starting point is a strictly concave (i.e. strictly risk averse) utility function u : 10, 2000 R that you draw free hand (fine pencil and graph paper advised) (a) In each of the following comparisons, identify the gamble that is more highly preferred, and illustrate your reasoning geometrically. i. 81,000 for sure vs. [(500;0.5); (2, 000; 0.5)] ii. $1,000 for sure vs. [800: 0.8): (2, 000; 02) (b) Identify the certainty equivalent to each of the following gambles, and in each case illustrate your reasoning geometrically. i. p- [(1,000;0.5), (2,000;0.5)] ii. q=(500,0.8), (1,000:02)