Given a commodity bundle (x) (x1, x2,., x5) and the vector of prices (p) ( 20, 5, 2, 4,

Given a commodity bundle (x) ¼ (x1, x2,., x5) and the vector of prices (p) ¼ (£ 20, £ 5, £ 2, £ 4, £ 10) under the cardinal approach, assuming the additive property of total utility function, solve the following consumer problem: max fxg UðxÞ ¼ max fxig X 5 i ¼ 1 UðxiÞ where UðxiÞ ¼ ffiffiffiffi xi p and given a budget constraint of £ 1000.

Value of Game 6.00 y=-3x+3 6.00 5.00 5.00 y=3x+2 4.00 4.00 3.00 2.00 3.00 1.00 1.00 0.00 0.00 0.00 0.20 0.40 0.60 0.80 1.00 Probability pA 2.00