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3. Examine the effect of an increase in nonlabor income on the labor-leisure choice 4. What does the elasticity of labor supply measure? What does

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3. Examine the effect of an increase in nonlabor income on the labor-leisure choice 4. What does the elasticity of labor supply measure? What does the size of the elasticity of labor supply depend upon? lv side" tax cuts (lower marginal tax rate on earn

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