Consider good X whose price is initially $40 per unit and whose price then increases to $60 per unit. Given this information and holding everything else constant, which of the following statements is true?

Consider good X whose price is initially $40 per unit and whose price then increases to $60 per unit. Given this information and holding everything else constant, which of the following statements is true? O With certainty we know that an individual facing this price change, while holding everything else constant, will be better off than they were before the price change. The substitution effect will lead any individual consuming good X to decrease their consumption of good X. O The change in the price of good X will cause a parallel shift in the new budget line toward the origin relative to the initial budget line. O The change in the price of good X will alter the individual's indifference curve map