Spud really likes potatoes. At best any other goods are worth less than $0.50 to him, potatoes cost $0.70 per pound, and he has $3.00 that he could possibly spend on potatoes or other items. Suppose he feels that the first pound of potatoes is worth $1.25, the second pound is worth $0.95, the third pound is worth $0.80, and all subsequent pounds are worth $0.50. Calculate how many pounds of potatoes Spud will purchase and explain why he will purchase this amount..

1. Spud really likes potatoes. At best any other goods are worth less than $0.50 to him, potatoes
cost $0.70 per pound, and he has $3.00 that he could possibly spend on potatoes or other items.
Suppose he feels that the first pound of potatoes is worth $1.25, the second pound is worth $0.95,
the third pound is worth $0.80, and all subsequent pounds are worth $0.50. Calculate how many
pounds of potatoes Spud will purchase and explain why he will purchase this amount.