Maude’s labor-supply curve slopes upward if, forMaude,a. leisure is a normal good.b. consumption is a normal good.c. the income effect on leisure exceeds thesubstitution effect.d. the substitution effect on leisure exceeds theincome effect.
Maude’s labor-supply curve slopes upward if, forMaude,a. leisure is a normal good.b. consumption is a normal good.c. the income effect on leisure exceeds thesubstitution effect.d. the substitution effect on leisure exceeds theincome effect.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
Problem 1PA
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Question
Maude’s labor-supply curve slopes upward if, for
Maude,
a. leisure is a normal good.
b. consumption is a normal good.
c. the income effect on leisure exceeds the
substitution effect.
d. the substitution effect on leisure exceeds the
income effect.
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