The question is attached below:

1. (29 Points) Mrs. Belhnan's current wealth is $100 and her utility function over wealth (w) is U (w) = x/tU. She is offered a bet in which she would gain 9 = $3 with probability g = 0.6 and lose I: = 2 with probability g = 0.4. She can purchase as many units of the bet as she wants. (a) (13 Points)Graph the certainty.r line, the budget constraint and the fair odds line on a set of axes with Mrs. Bellman's consumption if she wins the bet (cg) on the vertical axis, and her consumption if she loses the bet (ch) on the horizontal axis. Be sure to indicate Mrs. Bellman's current wealth of w = 100. (b) (16 Points) How many units of the bet would Mrs. Bellman purchase