1. We observe (1) (500)>(1000,0.5); (2) (100005) > (-500); (3) 0 > (100; 0.5; -100, 0.5) a. Show that expected utility with a concave function u(x) could not explain the three patterns jointly b. Show that expected utility with the following u(x) could explain the three patterns jointly x\" for x 2 0 1106) = y(x)r'3 forx