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4. (13 Points, 6 each) Fran's indirect utility function (a) over wealth (in) is dened by the equation: a = VIE. For EACH of the

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4. (13 Points, 6 each) Fran's indirect utility function (a) over wealth (in) is dened by the equation: a = VIE. For EACH of the following nancial assets of uncertain value? calculate the asset's expected value and Fran's expected utility and certainty equivalent. For simplicity, assume that Fina. has no other wealth. {a} Asset A, the nancial value of which is determined by the toss of a fair coin. The asset pays $0 if the coin lands on 'Heads', and $16 if the coin lands on 'Tails'. (b) Asset B , the nancial value of which is determined by the simultaneous (and indepen- dent} boss of TWO fair coins. The asset pays $0 for each 'Heaids'1 and $16 for each 'Tails'. (c) Asset C, the nancial value of which is determined by the roll of a fair die (singular of \"dioe\"). The asset pays $0 if the die lands on 1. $9 if it lands on 2 or 31 $36 if it lands on 45 and $31 if the die lands on 5 or 6

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