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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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8 years ago
When the wage rate increases, individuals offer to work fewer hours because of their higher incomes increasing their demands for normal goods, including leisure.  This is called the
A) income effect.
B) reservation effect.
C) opportunity cost effect.
D) substitution effect.
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kingbykingby
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#1
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8 years ago
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#2
8 years ago
Perfectly answered Smiling Face with Open Mouth

Cheers
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#3
8 years ago
I instantly knew the answer when I read the question, happy to help
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