Arnie Ziffel has $20 per week to spend on any combination of pineapples and green tea.The price of a pineapple is $4 and the price of a bottle of green tea is $2.The table below shows Arnie's utility values.Use the table to answer the questions that follow the table.
a.Complete the table by filling in the blank spaces.
b.Suppose Arnold purchases 4 pineapples and 2 bottles of green tea.Is he consuming the optimal consumption bundle? If so, explain why.If not, what combination should he buy and why?
Definitions:
Locus of Control
A psychological concept that refers to individuals' beliefs about the extent to which the outcomes of their actions are under their own control (internal locus) or beyond their control (external locus).
Concept Comparison
Refers to the process of evaluating similarities and differences between ideas, theories, or constructs within a particular field of study.
Fourth Stage
Refers to a phase or level in a series of stages, often used in the context of developmental processes or sequential steps in a system.
Crisis Resolution
A process in psychology or management where a crisis is addressed and solved through various methods, leading to a reduction in stress and conflict.
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