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Consider a standard model of an individual's labor supply. What is the cost to the individual of choosing to work one more hour? Select an
Consider a standard model of an individual's labor supply. What is the cost to the individual of choosing to work one more hour?
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(a)The wage they receive for that hour
(b)The leisure they give up for that hour
(c)The marginal revenue product created during that hour of work(
(d)The taxes they'll have to pay on their earnings for that hour
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