Consider the following statements :
(1) Preferring a certain income to a risky income with the same level of expected value leads to a risk-averse behaviour
(II) Being indifferent between a certain income and an uncertain income with the same level of expected value leads to risk-averse behaviour
Which of the above statement is/are true? Choose the correct option given below :
1
Both (I) and (II) are true
2
Neither (I) nor (II) is true
3
Only (I) is true
4
Only (II) is true