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Title: If Alan Shaw reduces his work hours when his salary increases, then Post by: avinash0312 on Feb 28, 2019 Question 1. If Molly Bee increases her work hours when her wage increases, then• the income effect of the wage increase outweighs the substitution effect. • the substitution effect of the wage increase outweighs the income effect. • leisure is an inferior good to Molly. • Molly is spending beyond her means. Question 2. If Alan Shaw reduces his work hours when his salary increases, then• the income effect of his salary increase dominates the substitution effect. • the substitution effect of his salary increase dominates the income effect. • the income effect of his salary increase is completely offset by the substitution effect. • leisure is an inferior good to Alan. Title: If Alan Shaw reduces his work hours when his salary increases, then Post by: yesimshay on Feb 28, 2019 Content hidden
Title: If Alan Shaw reduces his work hours when his salary increases, then Post by: avinash0312 on Feb 28, 2019 Smart ... Thanks!
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