Suppose the utility function of the consumer is u(x1,x2)=min{x1,x2}. Further, suppose P1=$4, P2=$2 and I=$18. Based on this information, answer the following questions:

1. What is the size of the substitution effect for good 1 when P1 decreases from $4 to $1?
2. What is the size of the income effect for good 1 when P1 decreases from $4 to $1?
3. What is the size of the substitution effect for good 2 when P1 decreases from $4 to $1?
4. What is the size of the income effect for good 2 when P1 decreases from $4 to $1?
5. Given your analysis of the income and substitution effects for good 1, you can conclude that for this consumer good 1 is:

a. A normal good

b. Inferior good

c. Quasi-linear good

d. Giffen good.

6. Given your analysis of the income and substitution effects for good 2, you can conclude that for this consumer good 2 is:

a. A normal good

b. Inferior good

c. Quasi-linear good

d. Giffen good.