GIve me correct answer with full explanation otherwise i give downvoteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. 13Use the figure below to answer the following question. Point X and Y represent two non-ideal contracts that the individual is faced with buying. From thisinformation, you can conclude that if given the option between points B and Y the individual would prefer:Utilityу вしUSD)incomeIsE[Bp IHpoint Y-the actuarially unfair but full contractpoint B- the actuarially fair and full contractpoint Y-the actuarially fair, but partial contractpoint B- the actuarially fair, but partial contract-DIO

Actuarially fairness: This refers to the situation in which the expected value of the insurance…

Answered: Use the figure below to answer the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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GIve me correct answer with full explanation otherwise i give downvote

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.

Answer completely and accurate answer.

Rest assured, you will receive an upvote if the answer is accurate.

13
Use the figure below to answer the following question. Point X and Y represent two non-ideal contracts that the individual is faced with buying. From this
information, you can conclude that if given the option between points B and Y the individual would prefer:
Utility
у в
し
USD)
income
Is
E[Bp IH
point Y-the actuarially unfair but full contract
point B- the actuarially fair and full contract
point Y-the actuarially fair, but partial contract
point B- the actuarially fair, but partial contract
-DIO

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