Question
True/False and Briefly explain in 3 sentences Assume regular convex preferences over leisure and consumption. The substitution effect of a fall in wages is always
True/False and Briefly explain in 3 sentences
Assume regular convex preferences over leisure and consumption. The substitution effect of a fall in wages is always to substitute away from consumption and towards leisure.
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Global Business Today
Authors: Charles W. L. Hill Dr, G. Tomas M. Hult
10th edition
1259686698, 978-1259686696
