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The substitution effect of a wage increase will induce a household to increase its amount of leisure foregone; whereas the income effect of a wage
The substitution effect of a wage increase will induce a household to increase its amount of leisure foregone; whereas the income effect of a wage increase will induce a household to decrease its amount of leisure foregone." Please Explain
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Managerial Economics
Authors: Mark Hirschey
14th edition
9781473709263, 1473709261, 1473717343, 1473717345, 978-1305506381
