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 O 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). O The income effect (family incomes fall and children are an inferior good). O 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). O Both the first and second options explain the result. O Both the third and fourth options explain the result