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When labour productivity increases, the demand for labour curve ________ and the supply of labour curve ________.
Rational Decision Maker
A theoretical entity in economics and decision theory that systematically and logically evaluates options before making a choice.
Rational Choice
The theory that individuals make decisions based on the maximization of their benefits and the minimization of their costs.
Subjective Costs
Costs perceived by individuals based on personal values, preferences, and circumstances, which can vary between persons.
Personal Interests
involve the hobbies, preferences, or passions of an individual, which can influence their choices and behavior.
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