Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

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? pound(s) of potatoes.

b. What if she only had $3.00 to spend? pound(s) of potatoes.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92585837

Have any Question?


Related Questions in Microeconomics

Question there are conflicting answers to this online

Question: There are conflicting answers to this online. Please, only respond if you are certain of your answers, and can explain. Don't just paste what is already out there. I'm trying to learn. Suppose that the interest ...

Question it appears that in the twenty-first century by far

Question: It appears that in the twenty-first century, by far the biggest increase in Federal spending will occur in increased medical care expenditures for the aged and the poor. If this does indeed turn out to be a pol ...

Question assume that the marginal product of a server in a

Question: Assume that the marginal product of a server in a restaurant equals the number of customers he can wait on per hour. The restaurant owner currently uses one server and is considering adding a second to work alo ...

Question - if a savings bank pays 15 interest every 3

Question - If a savings bank pays 1.5% interest every 3 months (Every quarter), a. What is the nominal rate? b. What is the effective rate per year?

Question suppose that high-definition television sets hdtvs

Question: Suppose that high-definition television sets (HDTVs) are normal goods. Would the compensated demand curve for HDTVs be flatter or steeper than the uncompensated demand curve? Explain your answer using a careful ...

Participation in the labor force is much lower than it has

Participation in the labor force is much lower than it has historically been. How have government benefits, such as food stamps and housing subsidies, affected the labor-leisure choices of individuals?

Question genelia has to choose between a two-day trip and a

Question: Genelia has to choose between a two-day trip and a three-day trip to Hollywood. The table below shows the expected benefit and cost for the different days. Using optimization in levels and optimization in diffe ...

Question assume the karolina cucoos are a minor league

Question: Assume the Karolina Cucoos are a minor league, small town baseball team. The demand for tickets to watch them play is: P = 40 - .005Q. A) Assume MC = 0, and that stadium capacity is unconstrained. What is the p ...

Question 1 how do managerial economists distinguish between

Question: 1. How do managerial economists distinguish between short and long run for business? 2. In most production processes the short run average cost of production typically drops as more is produced, but eventually, ...

Question a compare and contrast the organization and

Question: a) Compare and contrast the organization and function of the ECB to the Federal Reserve. b) Explain how the two organizations differ in their ability to deal with a financial crisis like the ones in Europe in 2 ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As