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Consider the above figure. If the wage rate is initially $8 per hour and subsequently increases to ...

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Consider the above figure. If the wage rate is initially $8 per hour and subsequently increases to ...

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

Edition: 12^th

Authors: Ehrenberg, Smith

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Peregrinus Author

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6 years ago

Thanks for your help!!

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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Just got PERFECT on my quiz

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