=+d. Redraw your graph, assume that the same bundle (as at the beginning of part (b)) is
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=+d. Redraw your graph, assume that the same bundle (as at the beginning of part (b)) is optimal, but now assume that consumption and leisure are quite (though not perfectly) substitutable. Illustrate again how much the household would be willing to pay to cause the wage to increase.
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Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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