How many pounds of potatoes will she purchase

Assignment Help Microeconomics
Reference no: EM13683901

Potatoes cost Janice $1 per pound, and she has $5.00 that she could possibly spend on potatoes or other items. If 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, how many pounds of potatoes will she purchase? What if she only has $2.00, to spend? Note: Add graphs to support your answers.

Reference no: EM13683901

Questions Cloud

Analyze effects on real interest rate-equilibrium investment : For each of the following scenarios, use a well-labelled diagram of the supply and demand for saving and investment to analyze the effects on the real interest rate, equilibrium investment, and equilibrium national savings. U.S. military involvement ..
Game theory significant and can it predict economic actions : The concept of game theory is one I find intriguing. Its relationship to economics was not understood until the last decade and now the bulk of the Nobel economics prizes have been awarded for behavioural economics of which game theory is a component..
Confidence interval for the population mean : A simple random sample of size n = 210 is drawn from a population. The sample mean is found to be overbear above x = 20.1, and the sample standard deviation is found to be s= 3.2. Construct a 90 percent confidence interval for the population mean.
Describe various bundling options that cable operators offer : Cable networks are often monopolies in their own local markets but typically face direct competition from the two satellite providers (DISH Network and DIRECTV). Does the cable provider's monopoly power describe the various bundling options that cabl..
How many pounds of potatoes will she purchase : Potatoes cost Janice $1 per pound, and she has $5.00 that she could possibly spend on potatoes or other items. If 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 subs..
Presume the demand function : Presume the demand function is Q=100-P, where Q is the quantity demand and P is the price. Please compute the price elasticity at P=10 (by comparing it with a pair of price and quantity at P=20). Compute the change in total revenue which is P times Q..
Software systems for product of global positioning satellite : Advance technology Consultants, Inc. (ATC), contracted with RoadTrac, LLC, to provide software ad client software systems for the products of global positioning satellite (GPS) technology benign develedoped by Roadtrac. RoadTrac agreed to provide ATC..
Why do so many countries place restrictions on trade : If countries can benefit with increasing their consumption possibilities through trade, why do so many countries place restrictions on trade?
What is maximum investment that will be allowed for dike : A state government is considering construction of a flood control dike having a life span of nine years. History indicates that a flood occurs every three years, on average, and causes $400,000 in damages on each occasion. If the state uses a MARR of..

Reviews

Write a Review

 

Microeconomics Questions & Answers

  Crowding in effect depends on the sensitivity of investment

The crowding-in effect depends on the sensitivity of investment

  Why interest -related expenditure ire function is vertical

In a closed (no foreign sector)mixed economy with stable prices if we assume that consumumption and investment spending do not depend on the interest rate,can we conclude

  What factors other income are likely to affect willingness

Is it price discrimination when a professional football team charges say,$150 per ticket for 50-yard-line tickets in the lower deck and $50 per ticket for upper-deck tickets overlooking the end zone

  Why the former refer to non-expenditure costs

Implicit and explicit costs are different in that: implicit costs are opportunity costs; explicit costs are not. explicit costs are opportunity costs; implicit costs are not. the latter refer to non-expenditure costs and the former to monetary pay..

  Explain the impacts of an expansionary fiscal policy

Explain the impacts of an expansionary fiscal policy such as a tax cut on the levels GDP, Consumption, Investment, interest rate and unemployment and price.

  How many canscapitayear on soft drink must be for the state

demand can be estimated with experimental data time-series data or cross-section data. in this case cross-section data

  Draw new consumer and producer surplus in the graph

youre part of a group of economic consultants supporting the government of sweden. sweden wants to liberalize trade in

  Does the increase in the current price increase or decrease

Does the increase in the current price increase or decrease the asset’s average expected rate of return? At what price would the asset have a zero average expected rate of return?

  Computing economic profit

HoneyBee Farms, a medium size manufacturer of honey, operates in market that fits competitive market definition relatively well.

  Maximum price investors

Atlantis will lose its patent protection, and analysts expect economic profit to be zero after five years and which is also the maximum price investors would be willing to pay for Atlantis Company.

  You are responsible for economic policymaking in your

you are responsible for economic policymaking in your country. your desire is to eliminate inflation keeping prices

  Use the table below showing the quantity demanded

Use the table below showing the quantity demanded

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd