Hi, this is a portfolio-related question, and I have attached the detailed question. Please take a look!

You live in a nancial dictatorship. Your current wealth, W0 is $1,000, which is a lot of money in this country. There are 3 possible future states of the economy. The states are equally likely, that is, the probability of each state happening is 1/3. There are also 3 risky gambles in this economy. The table below shows payments on the gambles depending on the state of the economy. State Probabili Gamble 1 Gamble 2 Gamble 3 1. "BAD" 1/3 -$10 -$10 +$10 2. "AVERAGE" 1/3 +$10 0 -$5 3. "GOOD" 1/3 0 +$10 $5 You are extremely risk averse. All you want is to have as little risk as possible; ideally, no risk at all. But this is a peculiar dictatorship. In all other ways, it is a free place, but you must hold at least one gamble. The gambles are free, you do not pay for them. You can have any positive amount of each one (one, two, three, four, etc.), but you must hold at least one gamble (you can hold more, if you want). Describe what can you do (give a prescription). (Hint: Can you build a portfolio, using these gambles, so that no matter which state of the economy occurs, you meet your preferences?)