(Answered) Suppose it is possible to buy left shoes for a price of

Economics

Suppose it is possible to buy left shoes for a price of $35/shoe and right shoes for a price of $50/shoe. Alex has an annual budget of $850 for buying shoes, and she has, like most people two feet.

Draw Alex's budget line between left shoes (on the horizontal axis) and right shoes (on the vertical axis). Draw a few of her indifference curves, and show her optimal choice. How many left shoes and how many right shoes does she buy?

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Business Economics, Economics

Category:- Business Economics
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