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utility function U(I) = racine(26I) where I represents annual income. he is offered a chance to take a job that offers a 0.3 probability of

utility function U(I) = racine(26I)

where I represents annual income. he is offered a chance to take a job that offers a 0.3 probability of earning 31000 and 0.7 probability of earning 64000$. what is the risk premium X is willing to pay to insure against the uncertain income? (final answer 2 decimals).

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