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:
UCC
The Uniform Commercial Code comprises a complete framework of rules that dictate the conduct of all commercial transactions within the United States.
Rescission
The termination of a contract.
Contract
A contract that is enforceable by law, involving two or more parties, which specifies their duties and entitlements.
Nonbreaching Party
The party in a contractual agreement who has not failed to fulfill any contractual obligations or terms.
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