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Money Income (dollars) Observed 224 Change 160 B U2 16 Hours of Leisure 16 11 0 Hours of Work If the individual in the above
Money Income (dollars) Observed 224 Change 160 B U2 16 Hours of Leisure 16 11 0 Hours of Work If the individual in the above diagram is maximizing her utility at point N2, which of the following is true? O The outcome is a corner solution. O The wage equals the individual's marginal rate of substitution (w=MRS). O The wage is greater than the individual's marginal rate of substitution (w> MRS). O The wage is lower than the individual's marginal rate of substitution (w
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