An individual has preferences over two goods (x and y) that are represented by the utility function

U = min { x , y }

The individual has income $60, the price of x is $4 and the price of good y is $2.

(1)Suppose the individual's income remains at $60; the price of y remains at $2; but the price of x decreases to $2.

What is this individual's newdemand for x?

My answer is 15.

(2)Again, with Income $60; and the price of x and y at $2, what is this individual'sdemand for y?

My answer is 15.

(3)Consider the price change in the above questions (i.e. the price of x decreasing from $4 to $2).What are theTotal Effect,Income EffectandSubstitution Effectfor this price change?(hint: draw the graph... one of these effects is zero).