=+17.6 Everyday Application: Gambling with Different Beliefs: Suppose you and I consider the following game: We both put $y on the table, then flip a coin. If it comes up heads, I get everything on the table, and if it comes up tails, you get everything on the table.

A. Suppose we both have an amount z . y available for consumption this week and both of us are risk averse.

a. Draw my (weekly) consumption/utility relationship given that I am risk averse. On your graph, indicate the expected value of the gamble and the expected utility of the gamble assuming that we are playing with a fair coin; that is, a coin that comes up heads half the time and tails the other half.