Three friends -Bruce, Clark and Diana- are discussing their preferences for comic books (b) and Dc movies (m) as their favorite pastime. They come to the conclusion that their utility functions are as follow.

UBruce(m, b) = b + 12 ln(m)

UClark(m, b) = b + m12

UDiana(m, b) = 2b + 2m12 + 1

Bruce claims that all of them have different preferences; Clark says that he and Diana have the same preferences, but that these preferences are different from Bruce's; Bruce claims all three friends share the same preferences. Who is right? Your answer is based on your justification. Hint: remember the rules of logarithm: Hint: remember the rules of logarithm: ln(xy) = y ln(x) and ln(x y) = ln(x) + ln(y) and ln(x y) = ln(x) + ln(y)