Question

The price of 1 lb of potatoes is $1.75. If all the potatoes sold today at...

The price of 1 lb of potatoes is $1.75. If all the potatoes sold today at the store bring in $1420, how many kg of potatoes did grocery shoppers buy?

0 0
Add a comment Improve this question Transcribed image text
Answer #1

No . of pounds purched ,

N = Total cost / cost per 1 Ib
= 1420 / 1.75
= 811.45 Ib
We know that 1 Ib = 0.454 Kg
therefore .45 pounds = 811.45*0.454 Kg
= 368 Kg

Add a comment
Know the answer?
Add Answer to:
The price of 1 lb of potatoes is $1.75. If all the potatoes sold today at...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • the doctor orders strepto mycin 1.75 mg/lb IM every 12 hrs. Available is Streptomycin 0.35 g/2.3...

    the doctor orders strepto mycin 1.75 mg/lb IM every 12 hrs. Available is Streptomycin 0.35 g/2.3 mL. How many mL will you administer a day to a 59 Kg patient?

  • economics Problem 2 Jon is spending his money on potatoes (R) and all other goods (C)....

    economics Problem 2 Jon is spending his money on potatoes (R) and all other goods (C). Suppose that the price of rice potatoes falls. Determine Jon's optimal consumption bundle using the tangency between his original budget line and one of his indifference curves as well as the consumption bundle after the price change, i.e., using the tangency between his new budget line and one of his indifference curves when 1. Potatoes is a normal good 2. Potatoes is an inferior...

  • pters 1-3 Part 2 Janice really likes potatoes. Potatoes cost $0.50 per pound, and she has...

    pters 1-3 Part 2 Janice really likes potatoes. Potatoes cost $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. Instructions: Enter your answers as whole numbers. a. How many pounds of potatoes will she purchase? 3 pound(s) of potatoes b. What...

  • 3) (1 BONUS pt.) Susan grows 100 potatoes each year and all of her income comes...

    3) (1 BONUS pt.) Susan grows 100 potatoes each year and all of her income comes from selling them. She spends all of her income each year consuming potatoes and other goods. For Susan, potatoes are a Giffen good, in that if her income is fixed in some way (i.e. ignoring the fact that she sells potatoes and just fixing her income at some value) her consumption of potatoes will rise when their price rises. The price of potatoes falls...

  • 13. of145tepl oft 00:18:43 grocery store. Howard has Express Lane so he can only buy 15...

    13. of145tepl oft 00:18:43 grocery store. Howard has Express Lane so he can only buy 15 items. in how many ways can he choose which 15 items to buy if he wants all 8 whole grain breads? Then Did This Next Prev 2 O

  • Given the importance of food to many cultures and people, we oftentimes fail to see how various cultures can overtly or...

    Given the importance of food to many cultures and people, we oftentimes fail to see how various cultures can overtly or covertly divulge information about the importance of certain values just by the manner in which items are arranged in a grocery store. For this activity, each student will identify a large grocery store within 5 miles of his/her residence. Please try to identify a large grocery store chain and is a “dominant culture” store (i.e., a Latin specialty version...

  • Potatoes cost Janice $1 per kilogram, and she has $5.00 that she could possibly spend on...

    Potatoes cost Janice $1 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 to spend? Janice will purchase with her original $5 of income. Janice will purchase when...

  • 1. Jim sold 20 put option contracts on XYZ stock with an exercise price of $35.5 and an option price of $2.30. Toda...

    1. Jim sold 20 put option contracts on XYZ stock with an exercise price of $35.5 and an option price of $2.30. Today, the option expires and the underlying stock is selling for $34.30 a share. What is your total profit or loss on this investment? 2 ABC CO just paid a $1.20 annual dividend. The company has a policy whereby the dividend increases by 2.5 % annually. You would like to purchase 100 shares of stock in this firm...

  • 1. Jim sold 20 put option contracts on XYZ stock with an exercise price of $35.5 and an option price of $2.30. Toda...

    1. Jim sold 20 put option contracts on XYZ stock with an exercise price of $35.5 and an option price of $2.30. Today, the option expires and the underlying stock is selling for $34.30 a share. What is your total profit or loss on this investment? 2 ABC CO just paid a $1.20 annual dividend. The company has a policy whereby the dividend increases by 2.5 % annually. You would like to purchase 100 shares of stock in this firm...

  • Coursework question 12.3 The price of a security is £10 today. Suppose that you are the...

    Coursework question 12.3 The price of a security is £10 today. Suppose that you are the only person in the world who knows that the price of the security will be £25 in 3 months, while everybody else expects that the price will stay around £10 a) Suppose you would like to buy a call option today with strike price £15 and maturity 3 months. Explain why this call option will be cheap. b) Explain briefly how you can make...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT