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Jamison received a raise at work and had the option to cut back his hours from 4 0 / week to 3 5 / week
Jamison received a raise at work and had the option to cut back his hours from week to week He chose not to reduce his hours. Why might he have made this decision?
Reasons for Jamisons Decision
Jamison was influenced by the income effect.
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The opportunity cost of leisure or other alternatives to work were too high.
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Jamison was influenced by the substitution effect.
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Jamison has other employment opportunities he wants to take advantage of in town.
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Not a Reason for Jamisons Decision
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