Consider an individual with atypical preferences

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Between Periods 1 and 2, Lifesavers became more expensive, and Reeses became cheaper. For a typical student, what happens to the cost of maintaining a particular standard of living between Periods 1 and 2? Now consider an individual with atypical preferences. This student loves Lifesavers and dislikes Reeses. What happens to the cost of maintaining a particular standard of living for this person? How accurately does the Candy Price Index track the cost of living for this person?

Reference no: EM131094650

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