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When Bailey received an hourly pay raise, they decided to work fewer hours. What is true for Bailey's labor supply? Question 4 options: The income
When Bailey received an hourly pay raise, they decided to work fewer hours. What is true for Bailey's labor supply? Question 4 options: The income effect is less than the substitution (price) effect The income effect is equal to the substitution (price) effect The income effect is greater than the substitution (price) effect
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