Question: Please state whether the following statement is true or false. You must also provide a short reason (approximately three sentences) for your answer. You have

Please state whether the following statement is true or false. You must also provide a short reason (approximately three sentences) for your answer.

You have expensive jewellery worth 50,000 and have constant relative risk aversion. As your wealth increases you would be less willing to pay the same insurance premium to fully insure your jewellery.

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