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Refer to the Following Diagram Representing Larry's Budget Constraint and Preferences

Question 9

Multiple Choice

refer to the following diagram representing Larry's budget constraint and preferences:
refer to the following diagram representing Larry's budget constraint and preferences:    -Which of the following is a correct statement? A) At A,Larry's marginal valuation of leisure is higher than the market wage B) At B,Larry's marginal valuation of leisure is higher than the market wage C) At C,Larry's marginal valuation of leisure is lower than the market wage D) At B,Larry values leisure the same amount as at A
-Which of the following is a correct statement?


A) At A,Larry's marginal valuation of leisure is higher than the market wage
B) At B,Larry's marginal valuation of leisure is higher than the market wage
C) At C,Larry's marginal valuation of leisure is lower than the market wage
D) At B,Larry values leisure the same amount as at A

Correct Answer:

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