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stars_and_moon stars_and_moon
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Posts: 3218
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7 years ago
Jason receives a raise at work.  He now earns $10 per hour instead of $8 per hour.  The substitution effect of this wage rate is
A) he now has to give up $10 for an hour of leisure so he will want to work less.
B) he now has to give up $10 for an hour of leisure so he will want to work more.
C) he now has $400 rather than $320 if he works a 40-hour week so he will want to work more.
D) he now has $400 rather than $320 if he works a 40-hour week so he will want to work less.
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kingbykingby
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#1
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7 years ago
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#2
7 years ago
I figured, great answer
wrote...
#3
7 years ago
Great! Now we can move on to the next one
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