If the quality of a good deteriorates while its price remains the same, then the value of a dollar a. Rises and the cost of living increases b. Rises and the cost of living decreases. c. Falls and the cost of living decreases. d. Falls and the cost of living increases.
If the quality of a good deteriorates while its price remains the same, then the value of a dollar a. Rises and the cost of living increases b. Rises and the cost of living decreases. c. Falls and the cost of living decreases. d. Falls and the cost of living increases.
Chapter2: Scarcity And Opportunity Costs
Section: Chapter Questions
Problem 14E
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Question
If the quality of a good deteriorates while its
a.
Rises and the cost of living increases
b.
Rises and the cost of living decreases.
c.
Falls and the cost of living decreases.
d.
Falls and the cost of living increases.
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