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This logic doesn't make sense. The opportunity cost (i.e. the basket of goods you forego buying) of buying an iPhone is exactly the same as it was when the devi
by shuckles 1y ago
This logic doesn't make sense. The opportunity cost (i.e. the basket of goods you forego buying) of buying an iPhone is exactly the same as it was when the device first launched. No single good in the basket is such a large component of overall measure that you can't use inflated prices to understand, in relative terms, the cost of a good.