Ambrose's Utility Function Is

question 8

Multiple Choice

Ambrose's utility function is . If the price of nuts (good 1) is $1, the price of berries (good 2) is $5, and his income is $190, how many units of berries will Ambrose choose?

• A) 36
• B) 101
• C) 18
• D) 17
• E) 21

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Definitions:

Amino Acids

Organic substances that are fundamental in forming proteins, essential for the body's tissues and organs' structure, function, and regulation.

Bile Salts

Components of bile that aid in the digestion and absorption of fats in the small intestine by emulsifying fats.

Cholesterol

A lipid molecule essential for the structure of cell membranes and the synthesis of hormones.

Estrogen

A group of steroid hormones that play a crucial role in regulating the reproductive system, development of female secondary sexual characteristics, and menstrual cycle.