Suppose a consumer has a utility function of U=MIN

QUESTION

Suppose a consumer has a utility function of U=MIN( X,2Y). The consumer has 27$ to spend and the prices of good Z if Px=4 and Py=$1. If the price of good X falls to Px=$1, how much of the total change in demand for X is due to the substitution effect? Please sketch the graph.

ANSWER

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