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QUESTION 9 The fact that we observe negatively sloped market labor supply curves implies that the substitution effect is weaker that the income effect for
QUESTION 9
The fact that we observe negatively sloped market labor supply curves implies that
- the substitution effect is weaker that the income effect for most workers.
- the income effect is weaker than the substitution effect for most workers.
- most workers don't have income or substitution effects.
- the income effect plus substitution effect results in the positive slope.
- labor laws require workers to work at least 40 hours per week.
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