and Study Tools Options Success Tips Success Tips Homework 7.1 (Ch 21) 3. Indifference curves and preferences Eric enjoys both beer and cookies. Assume that the "more is better" principle holds for Eric, meaning that he would always prefer to consume more of either good, holding the level of consumption of the other good constant. The two figures below present information regarding Eric's preferences. The points on Figure 1 represent combinations of cookies and beer that Eric might choose to consume. Figure 2 plots the same points as Figure 1, but it also shows some of Eric's indifference curves: 1, 2, and by. Thus, dire 2 gives more insight into Eric's preferences than Figure 1. Feedback BEER Figure 1 COOKIES Package R Figure 2 COOKIES Q Search this course x A-Z Lic 4 C Dols Homework 7.1 (Ch 21) BEEF 0 COOKIES (Packages) BEEF COOKIES (Packages) Complete the following table by indicating which bundles Eric strictly prefers to F given only the information in each figure. Information Given By... Figure 1 Figure 2 A B C D E G H . D O D D 0 D Indicate whether each of the following statements is true or false given the graphs. Statement Figure 1 indicates that Eric is indifferent among bundles C and bundles G Figure 2 indicates that Eric is indifferent among bundles C and G True False Grade It Now Save & Continue Continue without saving A