Ambrose's Brother Bartholomew Has an Income of $133 and a Utility

question 10

Multiple Choice

Ambrose's brother Bartholomew has an income of $133 and a utility function U(x₁, x₂) . The price of good 1 (nuts) is $2 and the price of good 2 (berries) is $1. How many units of nuts will Bartholomew demand?

• A) 45
• B) 59
• C) 47
• D) 49
• E) 96

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Definitions:

Federal Competition Act

Legislation aimed at promoting and maintaining fair competition practices in the marketplace by regulating anti-competitive practices in a federal jurisdiction.

Contributions

Donations or payments made towards a particular cause, project, or to fulfill a requirement in a group effort.

Dwellings

Residential structures where people live, such as houses, apartments, and other habitable buildings.

Consumers

Individuals or groups who purchase goods and services for personal use.