-Refer to Figure G

question 22

Multiple Choice

-Refer to Figure g.Lily's benefit function (dashed) is more concave than Millie's (dotted) in Figure g.Millie

• A) Is more risk averse than Lily
• B) Is less risk averse than Lily
• C) Has a larger risk premium than Lily
• D) Has a lower certainty equivalent than Lily

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