Arnie Ziffel Has $20 Per Week to Spend on Any

question 108

Essay

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?

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Definitions:

Quantitative Research

A research methodology focused on obtaining and analyzing numerical data to derive insights and patterns about a subject matter.

Measure Differences

The process of evaluating and quantifying variations or disparities, often used in research to compare groups or conditions.

Interesting Stories

Narratives or accounts that are engaging and compelling, capturing the attention of the audience.

Projective Techniques

Psychological methods used to uncover feelings, desires, or thoughts of individuals by having them interpret ambiguous stimuli.