Question

1)Potatoes cost Janice $1.00 per kilogram, and she has $5.00 that she could possibly spend on potatoes or other items. If she feels that the first kilogram of potatoes is worth $1.50, the second kilogram is worth $1.14, the third kilogram is worth $1.05, and all subsequent kilograms are worth $0.30, how many kilograms of potatoes will she purchase? What if she only had $2.00 to spend?

Janice will purchase ...... with her original $5.00 of income.

Janice will purchase ........when her income is $2.00.

2) Pham can work as many or as few hours as she wants at the college bookstore for $11 per hour. But due to her hectic schedule, she has just 19 hours per week that she can spend working at either the bookstore or at other potential jobs. One potential job, at a café, will pay her $12 per hour for up to 7 hours per week. She has another job offer at a garage that will pay her $10 an hour for up to 5 hours per week. And she has a potential job at a daycare center that will pay her $8.50 per hour for as many hours as she can work. If her goal is to maximize the amount of money she can make each week, how many hours will she work at the bookstore?
..........hours

Answer 1

1) Cost of potato = $1

Total Money she has = $5

If value of potato is more than coat of potato, she must consume this

First Kg of potato is worth = $1.5, she must consume this

Second Kg of potato is worth $1.14, she must consume this

Third Kg of potato is worth $1.05, she must consume this

She must consume 3Kg of potato as its value is less than $1 after that consumption level.

If she has $2 in total, she must spend all her income on potatoes because spending $2 on potato is worth $2.64