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:
Everyday World
The realm of daily life where individuals engage in routine activities and interactions.
Durkheim
Emile Durkheim, a foundational French sociologist, is known for his works on social solidarity, collective conscience, and the role of social integration in maintaining societal order.
Profane
That which is ordinary or not sacred, often referring to everyday objects and concerns outside the realm of the religious or holy.
William James
An American philosopher and psychologist who is considered one of the leading figures in the early development of the American school of pragmatism.
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