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    Principles of Economics Study Set 8
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    Exam 21: The Theory of Consumer Choice
  5. Question
    The Substitution Effect in the Work-Leisure Model Induces a Person
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The Substitution Effect in the Work-Leisure Model Induces a Person

Question 4

Question 4

True/False

The substitution effect in the work-leisure model induces a person to work less in response to higher wages, which tends to make the labor-supply curve slope upward.

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