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Economics
MEDIUM
ENGLISH
Economics
If leisure is a normal good, an increase in the wage ?
A
will always increase the quantity of labor supplied
Option A
will increase the amount of labor supplied if the substitution effect outweighs the income effect
Correct answer
C
will increase the amount of labor supplied if the income effect outweighs the substitution effect
Option C
D
will always decrease the amount of labor supplied
Option D
Correct answer: B
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