- B y, min {r, y} = y; and if r = y, min {I, y } = = =y.) (a) Draw a couple of indifference curves for Lucy. Put ice-cream on the horizontal axis. (Hint: Draw the 450 line. Choose a point on the line. If you increase the amount of r but not y from that point, how would Lucy's utility change? If you increase the amount of y but not r from that point, how would Lucy's utility change?) (b) Suppose cach scoop of ice-cream costs $2, and each cone costs $1. Lucy has an income of 56. Draw her budget line in the diagram you have drawn in part (a). (c) Using the diagram you have drawn, find Lucy's utility maximising consumption bundle. Lucy's sister, Mary, also insists on a particular combination of ice-cream and cones. Unlike Lucy, however, Mary must have 2 scoops of ice-cream with every conc. Mary's utility function is given by U(r,y) = min ,y (d) In a separate diagram, draw a couple indifference curves for Mary. (Hint: Instead of drawing the 450 line, draw the line y =1/2. Then follow the procedures as in part (a).) (e) Mary faces the same prices as Lucy, but has an income of $10 instead. Using the diagram you have drawn in part (d), find Mary's utility maximising consumption bundle