Ambrose's Utility Function Is = 4x^1/2₁ + X₂

question 25

Multiple Choice

Ambrose's utility function is = 4x^1/2₁ + x₂.If the price of nuts (good 1) is $1, the price of berries (good 2) is $10, and his income is $460, how many units of berries will Ambrose choose?

• A)401
• B)5
• C)6
• D)12
• E)9

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Definitions:

Long-Term Orientation

A cultural or organizational perspective that emphasizes planning and working towards future rewards and outcomes, rather than seeking immediate results.

HR Activities

Functions and tasks undertaken by the human resources department, including recruitment, training, performance management, and compensation.

Outsourcing

The practice of hiring external organizations or individuals to perform services or create goods that traditionally were performed in-house by the company's own employees and staff.

Risks

The potential for losing something of value or the possibility of an adverse outcome resulting from a given action, activity, or decision.