Francis Crawford recently received a 20 percent wage increase and desires to work less.We can conclude that at his current wage, his supply of labor curve

Name: Francis Crawford recently received a 20 percent wage increase and desires to work less.We can conclude that at his current wage, his supply of labor curve
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Question

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A negative slope in the labor supply curve indicates that as wages increase, the individual chooses to work less, suggesting that the income effect outweighs the substitution effect.

Francis Crawford Recently Received a 20 Percent Wage Increase and Desires