Question: suppose that leon's utility function is given by U ( W ) = W ^ 0.5 , where W represents annual income. Is Leon risk

suppose that leon's utility function is given by U ( W ) = W ^ 0.5 , where W represents annual income. Is Leon risk - loving, risk - neutral or risk adverse? Suppose that Leon is currently earning an income of $ 400 , 000 and can earn that income next year with certainty. Leon is offered a chance to take a new job that offers a 0.2 probability of earning $ 440 , 000 and a 0.8 probability of earning $ 330 , 000 . Should Leon take the new job? Explain

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