If Simone, Who Recently Received an Increase in Wages, Decides

question 40

Multiple Choice

If Simone, who recently received an increase in wages, decides to work more hours, the _____ effect for leisure outweighs the _____ effect for her.

• A) income; complementary
• B) substitution; income
• C) complementary; elasticity
• D) income; substitution

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Definitions:

Technological

Pertaining to technology, involving or employing technology in a product, service, or method of operation.

Commercial

Relating to business activities, transactions, or advertising intended to generate revenue.

Environmental Forces

External factors, including social, economic, technological, competitive, and regulatory forces, that can affect an organization's operations and business decisions.

Marketing Activities

Actions undertaken by a company to promote and sell its products or services, including advertising, sales promotions, and public relations.