Assume a consumer's utility function is given by U = min(2x, y) .The price of x is 1 and the price of}!r is 2 and their income is 100. The optimal choice g The optimal choice of y is Refer to the graph below. Assume the consumer has an income of $100, the price of X is $2 and the price of Y is $1. According to the graph, the income effect of a decrease in the price of X from $2 to $1 is equal to 100 20 40 45 50 100Assume a consumer has the utility function: U = x" 1/2, 1/2 . Assume an income of 50. What is the demand function for y? 25-1/2Py 100-1/2Py 50/Py 50-1/2Py 25/Py