Solved

Assuming That Leisure Is a Normal Good,if an Individual's Labor

Question 25

Multiple Choice

Assuming that leisure is a normal good,if an individual's labor supply curve is backward bending,then the


A) income effect outweighs the substitution effect.
B) substitution effect outweighs the income effect.
C) income effect and the substitution effects are equal.
D) income effect is zero.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions