The Questions In This Section Are About Charlie.

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The questions in this section are about Charlie. Charlies utility function over apples and bananas is u(xa,Ub) = Xq Xb whereQuestion 18 1 pts Charlie consumes apples and bananas per day.Question 19 1 pts Suppose that the price of bananas falls from $2 to $1. Following this price change, Charlie consumes applesQuestion 20 0.5 pts for Charlie. We can conclude that bananas ar ✓ [Select ] A Giffen good A normal good An ordinary good AnSuppose now that we decompose this price change into substitution and income effects. Does the substitution effect make CharlFinally, suppose that Charlies utility-function over apples and bananas was not u (ta, Xb) = Wałb , but u (la , xb) = målt A

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