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pls help me with this thanks a lot Q1. An apple grower can make a profit of $100 if there is no damage to his

pls help me with this thanks a lot

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Q1. An apple grower can make a profit of $100 if there is no damage to his crop. But if there is damage then his profit is simply $15. The probability of the crop getting damaged is 1/3. His utility function is U = Y12, where Y is his profit. Suppose he is offered insurance against the loss at a premium rate of 2/5. How much insurance is he going to buy? Ans. [ I = 50]

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