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2 weeks ago

Question 1.

The substitution effect of a wage decrease examines the effect of the decrease in wage income on a worker's ability to consume goods and services.

• true

• false

Question 2.

If the income effect of a wage increase equals the substitution effect, the labor supply curve is horizontal at the equilibrium wage.

• true

• false
Source  Download
Microeconomics
Edition: 7th
Authors:
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2 weeks ago
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Answer 1

false

Answer 2

false
1
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