1. [lb marks] Consider a risk-averse agent whose annual employment income is subject to risk. Each year, the local industry in which the agent works is in either a good state or a bad state. in the good state, which occurs with a relatively high probability, the agent earns the normal level of income. in the bad state, which occurs with a relatively low probability, the agent earns a drastically lower income due to market conditions beyond his or her control. For an affordable annual premium, the agent has access to an employment insurance policy that reduces. but does not eliminate, the agent's risk of income loss. The diagram below illustrates the agent's situation according to whether the agent opts for the insurance policy, where annual income is represented by m and utility from income is represented by U011}. \"(111] '11 r Reproduce and then popLdate the table below by expressing each quantity, with and without insurance, in terms of the variables q through 2 indicated in the diagram: WiIn-ut 'Wilh Net Income in Good State _ Net lncome in Bad State _ _ \" .I__ . [n the table, "net income" means income net ofthe insurance premium paid, recognizing that the insurance premium paid is zero when the agent goes without insurance