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Peregrinus Peregrinus
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6 years ago
Consider the above figure. If the wage rate is initially $8 per hour and subsequently increases to $12 per hour, then
A) the income effect dominates and optimal hours of work increase by 3 hours.
B) the income effect dominates and optimal hours of work decrease by 3 hours.
C) the substitution effect dominates and optimal hours of work increase by 3 hours.
D) the substitution effect dominates and optimal hours of work decrease by 3 hours.
Textbook 
Modern Labor Economics: Theory and Public Policy

Modern Labor Economics: Theory and Public Policy


Edition: 12th
Authors:
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ShadiasShadias
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6 years ago
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6 years ago
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