Describe Larry, Judy and Carol's risk preferences. Their utility as a function of income is given as follows
Larry: 
(I) = 10 
.
Judy: 
(I) = 3 
.
Carol: 
(I) = 20I.
Definitions:
Pharynx
The membrane-lined cavity behind the nose and mouth, connecting them to the esophagus, part of the digestive and respiratory systems.
Respiratory Rate
The number of breaths taken per minute, an important vital sign indicating the efficiency of the respiratory system.
Carbon Dioxide
A colorless, odorless gas produced by burning carbon and organic compounds and by respiration, and absorbed by plants in photosynthesis.
pH
A numerical scale used to specify the acidity or basicity of an aqueous solution, where 7 is neutral, values less than 7 are acidic, and values greater than 7 are basic or alkaline.
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