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Author Question: As a person's wage rate increases, the substitution effect motivates an increase in work and the ... (Read 58 times)

cartlidgeashley

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on: Jun 29, 2018
As a person's wage rate increases, the substitution effect motivates an increase in work and the income effect motivates a decrease in work.
 
  Indicate whether the statement is true or false

Question 2

If you considered steak and lobster to be perfect substitutes for each other, your indifference curves between them would be L-shaped.
 
  Indicate whether the statement is true or false


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alexanderhamilton

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

FALSE


cartlidgeashley

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

ebonylittles

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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