Ambrose's Brother Patrick Has a Utility Function U(x₁, X₂) =

question 12

Multiple Choice

Ambrose's brother Patrick has a utility function U(x₁, x₂) = 16x ₁ + x₂. His income is $82, the price of good 1 (nuts) is $2, and the price of good 2 (berries) is $1. How many units of nuts will Patrick demand?

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

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Definitions:

Skin Senses

The ability to perceive touch, temperature, pressure, and pain through the skin, one of the body's largest sensory organs.

Definable Receptors

Specific molecular structures on cell surfaces or within cells that binding substances like neurotransmitters, hormones, or drugs can precisely identify and interact with.

Pressure

The psychological or physical force exerted on an individual, which can influence their behavior or mental state.

Defence Mechanism

Psychological strategies unconsciously used to protect a person from anxiety-arising thoughts or feelings.