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Author Question: According to the substitution effect of labor supply, when the wage rate goes up: (Read 121 times)

Shelles

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on: Jul 21, 2019
According to the substitution effect of labor supply, when the wage rate goes up:
◦ the opportunity cost of enjoying leisure goes down.
◦ it becomes more costly to consume leisure, so people will work more.
◦ firms will hire more workers since people are more willing to work.
◦ it becomes less costly to consume leisure, so people will work more.
Microeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 8th Edition
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Marked as best answer by Shelles on Jul 21, 2019

Bigfoot1984

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Reply #1 on: Jul 21, 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: Jul 21, 2019
Excellent


Bigfoot1984

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Reply #3 on: Jul 21, 2019
Great! Please up vote :D


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