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Solve clearly Nancy and Peggy have state utility functions up(x) = 0.5x2 and up(x) = 2v x. respectively. O a. Nancy is risk averse, but

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Nancy and Peggy have state utility functions up(x) = 0.5x2 and up(x) = 2v x. respectively. O a. Nancy is risk averse, but Peggy is not O b. Neither Nancy or Peggy are risk averse O c. Peggy is risk averse, but Nancy is not O d. Nancy and Peggy are both risk averse

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