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istory Bookmarks Window Help 0 Appie Dianey ESPN Yahoo Disney Yahoo! Dictionary.co...cionary.com w Suppose You Won $15 On A Lotto Ticket At The Loa ing Course mbelive NTER MN MESTER 2018 Connect oblem (5 points) 6 Saved Help Save & Exit Subm Check my work lanice really likes potatoes. Potatoes cost $O.50 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 $114, the third pound is worth $1.05, and all subsequent pounds are worth $0.30. Instructions: Enter your answers as whole numbers a. How many pounds of potatoes will she purchase? poundis) of potatoes b. What if she only had $3.00 to spend? poundls) of potatoes Prev 1 of 21 Next > 0Explanation / Answer
1. 3 pounds
This is because 4th pound provides benefit of $ 0.30 while it costs $ 0.50 so person will not consume it. Consumer consume that number of pounds where benefit from consuming is greater than the cost.
2. 3 pounds
When Janice has 3 dollars than she can purchase 6 pounds as cost of 1 pound is 0.50. But Janice will consume 3 pounds only because 4th pound costs $ 0.50 while gives benefit of $ 0.30. So, it is not beneficial for consumer to consume more than 3 pounds.
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