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Louise works 46 hours a week at $12 an hour. If her wage increases to $18.50:
O her marginal product of labor has decreased.
O the substitution effect implies that she will work less.
O if leisure is a normal good, the income effect will reinforce the substitution effect,
and she will work less.
if leisure is a normal good, the income effect implies that she will work less.
Sagot :
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