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*5.14 If the wage elasticity of labor supply is negative, what can we say about the slope of the labor supply curve and the relative

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*5.14 If the wage elasticity of labor supply is negative, what can we say about the slope of the labor supply curve and the relative sizes of the income and substitution effects? Is leisure a normal or inferior good in this case? Will a fall in the tax rate on earnings increase or decrease tax revenues

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