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20 Feb 2019
2. If wage rate decreases and income effect dominates substitution effects what will happen to the hours of work.
3. If the labor supply elasticity is equal to 0.3, then it means that:
A 10% increase in wages will __________________(increase/decrease) hours of work by__________(3%/0.3%).
2. If wage rate decreases and income effect dominates substitution effects what will happen to the hours of work.
3. If the labor supply elasticity is equal to 0.3, then it means that:
A 10% increase in wages will __________________(increase/decrease) hours of work by__________(3%/0.3%).
Jean KeelingLv2
21 Feb 2019
