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Select the correct answers. A person's labour supply is downward sloping______: If the individual's marginal utility of consumption is lower than the marginal utility of

Select the correct answers.

A person's labour supply is downward sloping______:

  • If the individual's marginal utility of consumption is lower than the marginal utility of leisure.
  • Whenever leisure is an inferior good.
  • Whenever leisure is a normal good.
  • If the income effect is larger than the substitution effect , in the opposite direction
  • If the income effect is smaller than the substitution effect, in opposite direction
  • If the substitution and income effect go in the same direction

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