VNM utility is u(x) = Alice and Ben are both expected utility maximizers. Alice's while Ben's VNM utility is u2 (x)= where both a and 3 are strictly between 0 and 2. Consider the following lotteries: Lottery P: (25%, $2; 75%, $0) Lottery Q: (q, $1; 1-q, $0) For any lottery Q where q is between 0 and 1, if Alice prefers P to Q then Ben also prefers P to Q. (1) What do we know about the relationship between a and 3? (10 pts) (2) Suppose Ben is risk-averse. Do we know if Alice is risk-averse or risk-loving? (5 pts) (3) Suppose Alice is risk-averse. Do we know if Ben is risk-averse or risk-loving? (5 pts)