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9 Nov 2018
9. An increase in wages will induce a utility maximizing individual to work fewer hours when a) leisure is inferior and the substitution effect dominates the income effect b) leisure is inferior and the income effect dominates the substitution effect c) leisure is normal and the substitution effect dominates the income effect d) leisure is normal and the income effect dominates the substitution effect
9. An increase in wages will induce a utility maximizing individual to work fewer hours when a) leisure is inferior and the substitution effect dominates the income effect b) leisure is inferior and the income effect dominates the substitution effect c) leisure is normal and the substitution effect dominates the income effect d) leisure is normal and the income effect dominates the substitution effect
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