For an Individual Whose Utility Is Equal to Twice the Square

Multiple Choice

For an individual whose utility is equal to twice the square root of income, where X denotes income,and the coefficient of relative risk aversion is ½. For such an individual,what income level is the certainty equivalent of a risky income which has a 50% chance of being $9 and a 50% chance of being $4?

A) $5.00
B) $5.75
C) $6.25
D) $6.50
E) $7.75