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

question 4

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 at higher wages.
• B) substitution effect outweighs the income effect at higher wages.
• C) income effect and the substitution effects are equal.
• D) income effect is zero.

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