Agree or Disagree. “Tastes and preferences are subjective in nature. It means that an individual has a distinctive way of choosing what is best for him in gaining satisfaction”. Explain your position in 100 words only.

The principle of diminishing marginal utility says that people don't enjoy consuming more of a good. True or False and Explain the choice

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

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