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Author Question: For an individual's supply curve of labor to be backward bending: a. the substitution effect must ... (Read 72 times)

appyboo

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on: Jun 30, 2018
For an individual's supply curve of labor to be backward bending:
 a. the substitution effect must be greater than the income effect.
  b. the substitution effect must be equal to the income effect.
  c. the substitution effect must be less than the income effect.
  d. is an impossibility.

Question 2

U.S. Steel considers the iron ore market thin because of:
 a. the availability of wide range of ore producers.
  b. the scarcity of alternative ore suppliers.
  c. the volatility of ore prices.
  d. the low deliverability risks.


ambernicolefink

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

B


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