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How do we model choice in the context of labor supply? A person chooses the pair of leisure time and consumption that he or she
How do we model choice in the context of labor supply? A person chooses the pair of leisure time and consumption that he or she likes best among those pairs that he or she can afford works as much or as little as it takes to afford the consumption that he or she wants, and leisure is the time that's left over. adjusts his or her preferences to come to terms with what he or she has for consumption and leisure time
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