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11. Assume that Jay discovers, to his dismay, that his 2014 healthy-state income will be lower than his 2013 healthy -state income , but that

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11. Assume that Jay discovers, to his dismay, that his 2014 healthy-state income will be lower than his 2013 healthy -state income , but that his sick -state in- come Is is unchanged from 2013 to 2014 . Assume that his healthy -state in- come in 2013 is ly , and his healthy -state income in 2014 is ly - A. Assume 0

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