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Home Q & A Board Other Fields Homework Help Business Economics
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stars_and_moon stars_and_moon
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Posts: 3218
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7 years ago
When the wage rate increases, individuals recognize that the opportunity cost of leisure has risen, choose to substitute labor for leisure, and thus offer to work more hours.  This is called the
A) substitution effect.
B) opportunity cost effect.
C) reservation effect.
D) income effect.
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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
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#3
7 years ago
Yup, vote with confidence!
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