PRODUCT DIVERSIFICATION AND LIVING COSTS: A FURTHER COMMENT.

Two recent papers have pointed out that living costs are not only affected by the prices and qualities of products but also by the number of forms in which each product is offered.¹ Moreover, a tentative procedure has been outlined for measuring the economic significance of changes in product variety and for adjusting cost-of-living indexes accordingly. The present article is intended to explore the points covered in the earlier papers more fully and to answer several questions that have been raised concerning them.² [ABSTRACT FROM AUTHOR]