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Question - Janice really likes potatoes. At best any other goods are worth less than a dollar to her, potatoes cost $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.

Instructions: Enter your answers as whole numbers.

a. How many pounds of potatoes will she purchase?

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

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M93123283

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