Ambrose's utility function is = 4x/2, + x2. If 1 + X2. 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) 5 O b) 8

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Q: Andrea has a budget of £21 to spend on toothbrushes and tooth paste. He does not receive any utility…

A: Utility refers to the total amount of satisfaction that derived from the consumption of goods and…