The Slope of the Indifference Curve at the Lower Left-Hand

question 23

Multiple Choice

The slope of the indifference curve at the lower left-hand corner of the income/leisure diagram, where zero hours are supplied to the labour market, is equal to:

• A) the difference between the market wage and the reservation wage
• B) the reservation wage.
• C) the slope of the budget constraint.
• D) the prevailing market wage.
• E) the level of non-market income.

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