Why is the demand for labor downward sloping in the short run?
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Q60: Q61: If Jerry's demand for leisure increases as Q62: What is the output effect? Q63: When wages increase, the income effect of Q64: According to the output effect, a decrease Q66: The output effect is the change in Q67: Explain why the marginal revenue product of Q68: What is the input-substitution effect? Q69: The input-substitution effect associated with an increase Q70: The price of an hour of leisure
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