Solve it correctly. I ll rate.

QUESTION 8 According to expected utility theory, when an individual is their utility function is O a, risk prone : linear @ b. risk averse ; concave c. risk prone ; concave d. risk averse ; convex QUESTION 9 One of the reasons expected utility theory is preferred to the theory of expected value is because a. framing effects need to be considered. b. expected value does not account for non-monetary outcomes. c. expected value violates continuity. d. expected value violates monotonicity. QUESTION 10 Expected value is @a. a better model than expected utility normatively. O b. not a better model than expected utility c. a better model than expected utility normatively and descriptively. d. a better model than expected utility descriptively. QUESTION 11 Behavior in the SL. Petersburg paradox is Ca. cannot be explained by the model of expected value but, can be explained by the expected utility model. O'b. cannot be explained by the model of expected utility but, can be explained by the expected value model. c. can be explained perfectly by both models of expected utility and expected value. O'd. cannot be explained at all by the models of expected utility and expected value