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Ambrose's Brother Augustine Has an Income of $105 and a Utility

Question 7

Multiple Choice

Ambrose's brother Augustine has an income of $105 and a utility function U(x1, x2) Ambrose's brother Augustine has an income of $105 and a utility function U(x<sub>1</sub>, x<sub>2</sub>) . The price of good 1 (nuts) is $5 and the price of good 2 (berries) is $1. How many units of nuts will Augustine demand? A) 12 B) 16 C) 14 D) 26 E) 30 . The price of good 1 (nuts) is $5 and the price of good 2 (berries) is $1. How many units of nuts will Augustine demand?


A) 12
B) 16
C) 14
D) 26
E) 30

Correct Answer:

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