Quest ion 1 Sam consumes shoes and other things. His utility for shoes, 3: and money to 2 spend on other goods :9 is given by U(:r,y) = 100:): 3% | 3; Question 1 Part a What is Sam's inverse demand curve for shoes? Question 1 Part b If the price of shoes is $50, how many shoes will Sam consume? Question 1 Part c If the price of shoes is $80, how many shoes will Sam consume? Question 1 Part (1 Suppose that Sam has $4000 in total to spend a month. What is his total utility if the price of shoes is $50? Question 1 Part e What is his total utility if the price of shoes is $80? Question 1 Part f What is the change in (net) consumer's surplus when the price changes from $50 to $80