Business, 15.11.2019 02:31 angelinakanno

Daniel had been earning $72 per hour and working 45 hours per week. then daniel's wage changes to $64 per hour, and as a result, he now works 40 hours per week.
what can we conclude from this information about the income effect and the substitution effect of a wage change for daniel?

the substitution effect causes daniel to devote (1) time to working, the income effect causes daniel to devote ( time to working, and the substitution effect is ( the income effect.

1.) the substitution effect causes daniel to devote time to

a. the same amount of time
b. more
c. less

2.) income effect causes daniel to devote time to

a. more
b. the same amount of
c. less

3.) substitution effect is ( the income effect.

a. smaller than
b. larger than
c. the same size as

Answers: 1

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Daniel had been earning $72 per hour and working 45 hours per week. then daniel's wage changes to $6...

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