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Consumption of apples and xb her consumption of bananas

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Joanne's utility function is given by Uj = Xa + 2Xb where Xa denotes her consumption of apples and Xb her consumption of bananas.

Colleen's utility function is given by Uc = 3Xa + 2Xb , where Xa denotes her consumption of apples and Xb her consumption of bananas.

Joanne and Colleen shop at the same grocery store.

  1. When we observe that Joanne leaves the store with some bananas, then we can deduce that Colleen also buys some bananas.
  2. There exist prices of apples and bananas such that both consumers buy strictly positive amounts of both goods.
  3. When we observe that Joanne leaves the store with some apples and some bananas, then we can deduce that Colleen also buys some apples and some bananas.
  4. When we observe that Joanne leaves the store with some apples, then we can deduce that Colleen also buys some apples.
  5. Apples and bananas are perfect complements for Joanne. 

Which is correct, please show all steps.

Reference no: EM132472919

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