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Figure 16-3 -Refer to Figure 16-3. in Panel A, at Low Wages

Question 30

Multiple Choice

Figure 16-3
Figure 16-3 -Refer to Figure 16-3. In Panel A, at low wages (segment i) A) the substitution effect outweighs the income effect. B) the income effect outweighs the substitution effect. C) the substitution effect offsets the income effect. D) labor suppliers demand more leisure as wages increase.
-Refer to Figure 16-3. In Panel A, at low wages (segment i)


A) the substitution effect outweighs the income effect.
B) the income effect outweighs the substitution effect.
C) the substitution effect offsets the income effect.
D) labor suppliers demand more leisure as wages increase.

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