The inflated balloon shrinks when it is placed in an ice bath with no change in atmospheric pressure.
Explanation:
When the inflated balloon is subjected to an ice bath, it shrinks. This is due to the fact that smaller volume gets occupied by the air/gas inside the balloon as the temperature decreases. Hence, causes the balloon walls to collapse.
An ice bath also lowers the overall air temperature of the balloon inside. As the temperature decreases, the air molecules move more slowly and with lower energy. Because of the particle's lower energy, their collisions with the walls are not enough to keep the inflated balloon.