=+1. In this chapter, consumer preferences for various commodities did not change during the analysis. In some

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=+1. In this chapter, consumer preferences for various commodities did not change during the analysis. In some situations, however, preferences do change as consumption occurs. Discuss why and how preferences might change over time with consumption of these two commodities:

a. cigarettes.

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Microeconomics

ISBN: 9781292081977

8th Global Edition

Authors: Robert S. Pindyck, Daniel L. Rubinfeld

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