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Indifference curves and the optimal point in a graph

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Assume that Amy views right shoes and left shoes as perfect complements: a left shoe will not increase her satisfaction unless she can obtain the matching right shoe. Give a utility function that represents Amy's preferences. Suppose that she has $286 to spend on shoes. Assume that a right shoe costs $60 and a left shoe costs $50. What is Amy going to do? [assume that it makes sense to buy fractions of a shoe, such as half a shoe]. Show the budget set, the indifference curves and the optimal point in a graph.

Reference no: EM132460898

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