Multiple Choice
Ambrose's utility function is U(x1, x2) =4x1/21 + x2.If the price of nuts (good 1) is $1, the price of berries (good 2) is $5, and his income is $145, how many units of nuts will Ambrose choose?
A) 100
B) 200
C) 9
D) 103
E) 50
Correct Answer:
Verified
Correct Answer:
Verified
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