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Potatoes cost Janice $1.25 per pound, and she has $5.00 that she could possibly spend on potatoes or other items. Suppose she feels that the first pound of potatoes is worth $1.50, the second pound is worth $1.14, the third pound is worth $1.05, and all subsequent pounds are worth $0.30. How many pounds of potatoes will she purchase? What if she only had $2 to spend?

Answer :

segehood

Answer:

a. 1 pound of potatoes

b. 1 pound of potatoes

Explanation:

It is important to note that Janice will purchase potatoes until the cost of potatoes is more than her value for it or until she exhausts her income.

Having that in mind

a. In this case, since only the value of first pound of potato is worth more than the cost, she'd only buy 1 pound of potatoes. Totalled at $1.25

b. If she has only $2, she'd purchase only 1 pound because the value of the potatoes is worth more than the cost.

a. 1 pound of potatoes

b. 1 pound of potatoes

The following information should be considered:

  • Janice will purchase potatoes as long as the benefit is more or at least equivalent to the cost she pays.
  • She will purchase the first pound as the benefit is more than the cost for the first pound (1.5>1.25).
  • She won't buy more as the cost is more than the worth of the additional pound.

Learn more: https://brainly.com/question/1368131?referrer=searchResults

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