Economists have found that fertility rates rise when the wages of child laborers are higher. Which of the following best explains this result? Multiple Choice The income effect (family incomes rise and children are a normal good). The price effect (the price of children falls since they can now pay more of their own expenses, and therefore parents can afford to have more of them). The income effect (family incomes fall and children are an inferior good). The price effect (the price of children increases due to the need for parents to pay more to their children for chores, and therefore parents choose to have fewer children). Both the first and second options explain the result. Both the third and fourth options explain the result