Answer:
Option (D) is correct.
Explanation:
Perfect substitute goods are the goods which can be used in place of each other.
Perfect substitutes refers to the goods which are having identical characterstics, features and provide the exactly same level of satisfaction.
The marginal rate of substitution for these perfect substitute goods remains constant which means that the trading of one good for the another good is at a fixed rate.
Answer:
a. How many pounds of potatoes will she purchase?
3 pounds
Janice will purchase potatoes as long as the value she assigns to them is higher than the price of potatoes. She values the first 3 pounds at more than $1 per pound. But Janice only values the subsequent pounds of potatoes at $0.30 per pound and that is lower than their price.
b. What if she only had $3.00 to spend?
she would still buy the 3 pounds
<span>Understanding the tasks required of the position is a necessity, as are any certifications that the job may need. In addition, listing references who have experience in the same or related fields can give an employer additional information that could bolster one's value in their eyes.</span>
External changes from industry have great impact in the things that we do personally. Every moment there are new technology that are being developed that simplified our daily life. With this fast paced improvement in our technology, we tend to adapt and make use of those new technology to improve our daily activities. It can be in a form of entertainment, communication or travelling.
