You are offered a choice between $4 and the following gamble: a 1/4 chance of winning $9 and a 3/4 chance of winning $1. a. Suppose your utility function is u(x)=0.5. Draw the utility function. What is the utility of the $4? What is the utility of the gamble? What is the certainty equivalent? Which should you choose? b. Now suppose your utility function is u(x)=2. Draw the utility function. What is the utility of the $4? What is the utility of the gamble? What is the certainty equivalent? Which should you choose? c. What are the risk attitudes of the decision makers in (a) and (b)?