Suppose that an individual agent has the following utility function of wealth w. U(w)= aw if wW and U(w)=aa+b(wW) if w>W Both a and b are positive numbers and W is a pre-specified fixed level of wealth. (a) Is this function concave in wealth (under what conditions)? (b) Can you find the risk premium of an agent with the above utility function with a>b and initial wealth w0=W who faces a risk x(k,1/2;+k,1/2) ? (c) What is the absolute risk aversion of the agent in (b) above