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CENGAGE | MINDTAP Q Search this cours Chapter 21: Graded Homework 3. Indifference curves and preferences Larry likes both soda and milk. Assume that the "more is better" principle applies to Larry; that is, he would always prefer to consume more of either good, holding the consumption of the other good constant. The points on Figure 1 represent combinations of milk and soda that Larry might choose to consume. Figure 2 shows the same points as Figure 1, but it also shows some of Larry's indifference curves: /1, 12, and 13. These curves show more information about Larry's preferences than Figure 1. Figure 1 Figure 2 I L O O O O SODA (Cans) SODA (Cans) O O O O OC MILK (Glasses) MILK (Glasses)Chapter 21: Graded Homework O O GO GO B B MILK (Glasses) MILK (Glasses) Complete the following table by indicating which bundles Larry strictly prefers to A given only the information in each figure. Information Given By... B C D E F G H Figure 1 0 O 0 0 O O Figure 2 0 0 0 0 0 Indicate whether each of the following statements is true or false given the graphs. Statement True False Figure 1 indicates that Larry is indifferent among bundles F and bundles G. O O Figure 2 indicates that Larry is indifferent among bundles F and G. O O