Question
32. Suppose that in a labor market, the substitution effect isless important in magnitude than the income effect. As aresult, A. the labor demand curve
32. Suppose that in a labor market, the substitution effect isless important in magnitude than the income effect. As aresult,
A. the labor demand curve is upward sloping.
B. the labor demand curve is downward sloping.
C. the labor supply curve is upward sloping.
D. the labor supply curve is downward sloping.
can you explain?thank you
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Managerial Economics A Problem-Solving Approach
Authors: Luke M. Froeb, Brain T. Mccann
2nd Edition
B00BTM8FK0
