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gorgeous gorgeous
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5 years ago

Question 1.

Assuming that leisure is a normal good, if an individual's labor supply curve is backward bending, then the



▸ income effect outweighs the substitution effect at higher wages.

▸ substitution effect outweighs the income effect at higher wages.

▸ income effect and the substitution effects are equal.

▸ income effect is zero.

Question 2.

Assuming that leisure is a normal good, if an individual's labor supply curve is upward sloping, then the



▸ income effect outweighs the substitution effect at higher wages.

▸ substitution effect outweighs the income effect at higher wages.

▸ income effect and the substitution effects are equal.

▸ income effect is zero.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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Strategyboyz21Strategyboyz21
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5 years ago
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gorgeous Author
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5 years ago
Helped a lot
GeorgeNeist
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Yesterday
Good timing, thanks!
Harvinder
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2 hours ago
This helped my grade so much Perfect
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