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Identify the correct statement based on the attached information Consumer and Producer Theory The following gure shows three indifference curves in red and the budget

Identify the correct statement based on the attached information

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Consumer and Producer Theory The following gure shows three indifference curves in red and the budget line of a consumer in blue. The x-axis represents the quantity of Good X consumed and the y-axis represents the quantity of Good Y consumed. Identify the correct statement based on this information. Qx Good X While moving from I2 to I3, the quantity of goods in the bundle decreases. Any point on I1 is more preferred by the consumer than any point on I 2 A slight reduction in consumer's budget would make I2 unaffordable. The quantities Qx and Qy would remain constant even if the prices of the Good X and Good Y change

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