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Author Question: As wages rise, the substitution effect induces households to A) choose leisure rather than ... (Read 87 times)

anshika

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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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Answer to Question 1

B

Answer to Question 2

B




anshika

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)


helenmarkerine

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Reply 3 on: Yesterday
Gracias!

 

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