Consider three choices A, B, C. Choice A gives $80 with certainty. Choice B gives $60 with probability 1/3 and $90 with probability 2/3. Choice C gives $75 with probability 1/3 and $90 with probability 2/3.

(I) Consider a risk averse individual.

(a) Determine if this individual (i) prefers A over B, or (ii) prefers B over A, or (iii) is indifferent between A,B, or (iv) more information on the individual's risk attitude is needed to compare A,B for the individual.

(b) Determine if this individual (i) prefers A over C, or (ii) prefers C over A, or (iii) is indifferent between A,C, or (iv) more information on the individual's risk attitude is needed to compare A,C for the individual.

(c) Determine if this individual (i) prefers B over C, or (ii) prefers C over B, or (iii) is indifferent between B,C, or (iv) (iii) more information on the individual's risk attitude is needed to compare B,C for the individual.