Suppose an risk averse indidivual has an expected utility function u and u > 0, u < 0. The individual has initial wealth of w0 and faces a risk of losing L > 0 with probability p > 0. If the insurance is not actuarily fair (the price of $ 1 coverage, t, is greater than p; i.e. 1 > t > p ), then show that the individual will not buy the full insurance coverage. (In other words, show x < L where x is the coverage amount the individual will choose to buy.)