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In the 1970s a Typical College Student's Consumption Might Be

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In the 1970s a typical college student's consumption might be represented by the following items: a small used car, black and white television set, macaroni and cheese and generic brand beer. As many of these students graduated from college what do you expect happened to the composition and quantity of the goods mentioned? Explain.

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In all likelihood the consumption of the...

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