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What is the substitution effect of a wage increase? What is the income effect of a wage increase? ...

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What is the substitution effect of a wage increase? What is the income effect of a wage increase? ...

Question 1.

What are the three most important variables that cause the market supply curve of labor to shift?

Question 2.

What is the substitution effect of a wage increase? What is the income effect of a wage increase? Under what conditions will a worker's labor supply curve become downward sloping?

Textbook

Microeconomics

Edition: 7^th

Authors: Hubbard, O'Brien

Read 63 times

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