Ann purchases insurance against damage to her phone wires at 45 cent a month, even though the probability that she incurs a repair cost of $60 is only 0.4%. Is such behavior consistent with the rational behavior (it means, does it yield the highest payoff for Ann between the two choices); given that Ann's utility function is a = vw, and w = 60 is her initial wealth? What if her wealth is w = 70? Suppose that Bob's wealth is w = 60, and that his utility function is a = wi. Suppose that he also purchases the same insurance. Is his purchase of insurance consistent with the rational behavior? Compare your answer, assuming w = 60, with Ann's utility, and explain the difference