William observes that a car in 1925 sold for an average of


William observes that a car in 1925 sold for an average of $500 versus $20,000 for a 2005 model. He concludes that 2005 cars must be 40 times better than 1925 cars. What's wrong with this way of thinking?

 

 

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Microeconomics: William observes that a car in 1925 sold for an average of
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