EBK ECONOMICS: PRINCIPLES AND POLICY
13th Edition
ISBN: 9781305465626
Author: Blinder
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Chapter 3, Problem 4TY
To determine
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Potatoes cost Janice $0.50 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 $1.14, the third
pound is worth $1.05, and all subsequent pounds are worth $0.30 per
pound.
Instructions: Enter your answers as a whole number.
a. How many pounds of potatoes will she purchase?
pound(s) of potatoes
b. How many pounds will she purchase if she has only had $2.00 to spend?
pound(s) of potatoes
Use the table with data for Maria and Jose to answer the question.
Table: Maria and Jose Produce Strawberry Jam
Jose charges $8 per
jar.
Maria charges $8 per Maria earns $200, and | Maria earns $50, and
Jose earns $180.
Jose charges $4 per jar.
Jose earns $280.
jar.
Maria charges $4 per
jar.
If Jose charges $8, Maria should charge
Maria earns $300, and Maria earns $180, and
Jose earns $40.
Jose earns $150.
If Jose charges $4, Maria should charge
$8; $8
$4; $4
$8; $4
O $4; $8
Janice really likes potatoes. Potatoes cost $1.10 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
Chapter 3 Solutions
EBK ECONOMICS: PRINCIPLES AND POLICY
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