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When Ben's hourly wage increases from 20 to 25 dollars, he responds by working less.Illustrate Joe's decision using indifference curve analysis.Does Joe have a stronger

When Ben's hourly wage increases from 20 to 25 dollars, he responds by working less.Illustrate Joe's decision using indifference curve analysis.Does Joe have a stronger preference for leisure or income?Which is stronger the income effect orthe substitution effect? Explain within your illustration.

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