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Bob previously earned $30 per hour. He recently got a sizeable pay raise and will now earn $50 per hour. What can we say about
Bob previously earned $30 per hour. He recently got a sizeable pay raise and will now earn $50 per hour. What can we say about Bob's future decisions about labor and leisure?
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(a)Bob will choose to work more hours
(b)Bob will choose to work fewer hours
(c)Bob may choose to work more or fewer hours
(d)Bob will lose his job since he is now too expensive to employ
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