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(JR 2.28) Let utility over consumption goods $1 and 3:2 be given by u($1,$2) = 1n($1) + 21n($2). If p1 = p2 = 1, will
(JR 2.28) Let utility over consumption goods $1 and 3:2 be given by u($1,$2) = 1n($1) + 21n($2). If p1 = p2 = 1, will this person be riskloving, riskaverse, or riskneutral when offered gambles over different amounts of income, 3;? Hint: the indirect utility function denes utility as a function of y
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