Considers a consumer who suddenly changes

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Q. Considers a consumer who suddenly changes her preferences with regard to air travel, because of a horrendous episode involving several airplanes. DRAW 2 indifference curves maps that describe this consumer. One before the episode also one after the episode. Draw 2 or 4 typical indifference curves

Q. List the 3 major problems in Utilizing the CPI as a measure of the cost of living. Does the GDP deflator do a better job than the CPI in measuring the cost of living? Elucidate your answer.

Reference no: EM1321435

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