In Problem 3, Ambrose's utility is U(x1, x2) = . If the price of nuts (good 1) is $1, the price of berries (good 2) is $4, and his income is $104, how many units of nuts will Ambrose choose?
A) 67
B) 128
C) 64
D) 10
E) 32
Correct Answer:
Verified
Q6: In Problem 2, Clara's utility function is
Q7: In Problem 3, Ambrose's utility is U(x1,
Q8: In Problem 2, Clara's utility function is
Q9: Charlie's utility function is U(xA, xB) =
Q10: Charlie's utility function is U(xA, xB) =
Q12: In Problem 1, Charlie has a utility
Q13: Charlie's utility function is U(xA, xB) =
Q14: In Problem 2, Clara's utility function is
Q15: In Problem 1, Charlie has a utility
Q16: In Problem 1, Charlie has a utility
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