Question: Consider an individual making a choice over two goods , x and y with prices Px=2 and Py=4 with income 240. If the individual has

Consider an individual making a choice over two goods , x and y with prices Px=2 and Py=4 with income 240.

If the individual has the utility function u(x,y)= min(2x,y), what would the total, income, substitution effect of a price of x increase to 4?

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