A person who wins a large sum of money in the state lottery is:
A) likely to increase the amount of market work offered at each wage rate.
B) not likely to change the amount of work offered at each wage rate.
C) likely to decrease the amount of work offered at each wage rate.
D) likely to substitute market work for leisure time due to the substitution effect.
E) likely to substitute market work for leisure time due to the income effect.
Correct Answer:
Verified
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