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Author Question: Assuming that leisure is a normal good, if an individual's labor supply curve is upward sloping, then the (Read 39 times)

Shelles

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on: Apr 19, 2019

Question 1

Assume leisure is an inferior good instead of a normal good. The income effect of a wage decrease will lead to a ________ demand for leisure and a ________ labor supply.


◦ higher; higher
◦ higher; lower
◦ lower; higher
◦ lower; lower

Question 2

Assuming that leisure is a normal good, if an individual's labor supply curve is upward sloping, then the


◦ income effect outweighs the substitution effect at higher wages.
◦ substitution effect outweighs the income effect at higher wages.
◦ income effect and the substitution effects are equal.
◦ income effect is zero.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Shelles on Apr 19, 2019

shailee

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Shelles

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

jackie

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Reply 3 on: Yesterday
Wow, this really help

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