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Economics

By itself, the substitution effect of an increase in the wage rate will

a. always lead to an increase in the quantity of labor supplied

b. always lead to a decrease in the quantity of labor supplied

c. lead to an increase in the quantity of labor supplied only if leisure is like a normal good

d. lead to an increase in the quantity of labor supplied only if leisure is not a normal good

e. lead to an increase in the quantity of labor supplied only if the income effect works in the same direction

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91385137

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