Question: Hi, I have a question for which the answer is provided but I don't know how it is derived, could you help to explain it

Hi, I have a question for which the answer is provided but I don't know how it is derived, could you help to explain it step by step please?

Utility Function

  1. If Bernice (whose utility function is min{x, y}, where x is her consumption of earrings and y is money left for other stuff) had an income of $13 and was paying a price of $2 for earrings when the price of earrings went up to $3, then the equivalent variation of the price change was (Answer: $3.25).

Thank you in advance!

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