• Which of the following describes the substitution effect?

• As wages increase, an individuals leisure becomes less costly, making him more likely to choose leisure over labor.
• As wages increase, an individual's leisure becomes more costly, making him less likely to choose leisure over labor..
• As wages increase, an individual's total potential income rises, making him more likely to choose leisure over labor.
• As wages increase, an individual's total potential income rises, making him less likely to choose leisure over labor.