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Author Question: As wages rise, the substitution effect induces households to A) choose leisure rather than ... (Read 86 times)

anshika

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on: Jun 29, 2018
As wages rise, the substitution effect induces households to
 
  A) choose leisure rather than supplying labor in the labor market.
  B) choose supplying labor in the labor market rather than engage in leisure.
  C) reduce the opportunity cost of leisure.
  D) reduce the economic rent from leisure.

Question 2

The unregulated, single-price monopolist illustrated in the figure above makes an economic profit of
 
  A) zero.
  B) 8.00 per day.
  C) 10.00 per day.
  D) 40.00 per day.


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kaylee05

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

B

Answer to Question 2

B


anshika

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

ricroger

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Reply 3 on: Yesterday
Gracias!

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