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thanhha78 thanhha78
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7 years ago
Recall the Application. A study of the taxi market in New York City showed that when cab fares increase, thereby increasing the wages of cab drivers,
A) the substitution effect for leisure demand outweighs the income effect for leisure demand.
B) the income effect for leisure demand and the substitution effect for leisure demand work in the same direction, causing the labor supply to increase.
C) the income effect for leisure demand and the substitution effect for leisure demand work in the same direction, causing the labor supply to decrease.
D) the income effect for leisure demand outweighs the substitution effect for leisure demand.
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
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Quinn1981Quinn1981
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thanhha78 Author
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7 years ago
Thanks
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This site is awesome
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