585EconomicsMedium
If there is an increase in the price of apples which causes consumers to purchase fewer kilograms of apples and more kilograms of oranges, the CPI will suffer from?
Asubstitution bias
Bbias due to the introduction of new goods.
Cnone of these answers
Dbase year bias
Ebias due to unmeasured quality change
Correct answer
A. substitution bias
Explanation
The correct answer is substitution bias.