Problem
Consider Sam and Jo, two pet owners. Every week, both Sam and Jo spend $24 on cat food.
Cat food comes in two types, dry food and wet food. Dry food costs $1 per lb. while wet food costs $2 per lb.
• In a graph measuring dry food along the horizontal axis, draw Sam's and Jo's budget constraint. According to Sam's veterinary, cats must eat one pound of wet food for each pound of dry food. According to Jo's veterinary, it is irrelevant whether cats eat dry food or wet food provided they eat a certaint weight each day. Sam and Jo follow their veterinaries' instructions.
• With this information, can you determine Sam's optimal bundle? And Jo's optimal bundle?