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Potatoes cost Janice $1.00 per pound, and she has $6.00 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 per pound.

Required:
a. How many pounds of potatoes will she purchase?
b. What if she only had $3.00 to spend?

Respuesta :

jepessoa

Answer:

a. How many pounds of potatoes will she purchase?

3 pounds

Janice will purchase potatoes as long as the value she assigns to them is higher than the price of potatoes. She values the first 3 pounds at more than $1 per pound. But Janice only values the subsequent pounds of potatoes at $0.30 per pound and that is lower than their price.

b. What if she only had $3.00 to spend?

she would still buy the 3 pounds

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