Ambrose's Utility Function Is

question 12

Multiple Choice

Ambrose's utility function is . If the price of nuts (good 1) is $1, the price of berries (good 2) is $9, and his income is $369, how many units of berries will Ambrose choose?

• A) 10
• B) 4
• C) 325
• D) 5
• E) 8

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Definitions:

Merit Pay

A system of linking pay increases to ratings on performance appraisals.

Team-Oriented

An approach or characteristic of individuals who prefer working collaboratively with others towards common goals rather than independently.

Incentive Pay

Forms of pay linked to an employee's performance as an individual, group member, or organization member.

Predefined Behaviors

Actions or responses that are established in advance, often as part of guidelines, protocols, or role requirements.