Janice really likes potatoes. Potatoes cost $1 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.

a. How many pounds of potatoes will she purchase?

b. What if she only had $2 to spend?

Question

Lamar Shields

Business

5 March, 23:46

Janice really likes potatoes. Potatoes cost $1 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.

a. How many pounds of potatoes will she purchase?

b. What if she only had $2 to spend?

+3

Answers (1)

Know the Answer?

Davian · Answer 1

A) 3 pounds of potatoes

B) 2 pounds of potatoes

Explanation:

A) Janice feels that the first pound of potatoes is worth $1,50, second pound is worth $1,14 and the third pound is worth $1,05 and the 4th pound to infinity will be worth $0.30

Since the potatoes cost per pound is $1 and and Janice has $5 to spend

Janice will only spend $3 for 3 pounds of potatoes because the 3 first pounds of potatoes is worth above $1 (1.50,1.114,1.05) and from the 4th pound to infinite amount of potatoes is worth $0.30 which is below the cost of potatoes which is $1

B) If Janice only has $2 to spend and although the first 3 pounds of potatoes (1.50,1.14,1.05) is worth more than $1, Janice will only be able to buy the first 2 pounds of potatoes because she doesn't have enough income to buy the third pound of potatoes.