D Question 39 3.94 pts What can we say about the substitution effect along a labor supply curve as wages decline? O As wages decline, the opportunity cost of working increases. Therefore, individuals increase their quantity of labor supplied. As wages decline, the opportunity cost of working decreases. Therefore, individuals increase their quantity of labor supplied. As wages decline, the opportunity cost of leisure declines. Therefore, individuals increase their quantity of leisure demanded. As wages decline, the opportunity cost of leisure increases. Therefore, individuals decrease their quantity of leisure demanded