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The question is as follows: 3. With the basic income-leisure choice model, we can draw various forms of individual consumer's labor supply curve based on

The question is as follows:

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3. With the basic income-leisure choice model, we can draw various forms of individual consumer's labor supply curve based on the assumptions. Answer the followings. a. Draw the labor supply curve if income effect is dominated for this consumer. b. Draw the labor supply curve if substitution effect is dominated for this consumer. c. Draw the labor supply curve if substitution effect is dominated when the wages are low levels but income effect is dominated when the wages are high levels for this consumer. d. Draw the labor supply curve if income effect is dominated when the wages are low levels but substitution effect is dominated when the wages are high levels for this consumer

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