Problem related to construction of the cpi


Problem: Which of the problems in the construction of the CPI might be illustrated by each of the following situations. Explain

1. Consumers purchase more of rice after price of wheat increases.

2. Increases in the variety and design of the shoes.

3. In 2019, Linda bought the Microsoft 365 for $75. In 2021, Bobby bought an upgrade of the same software for $75.

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Microeconomics: Problem related to construction of the cpi
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