Substitution effect of an increase in the wage rate will

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Reference no: EM13815209

By itself, the substitution effect of an increase in the wage rate will

a. always lead to an increase in the quantity of labor supplied

b. always lead to a decrease in the quantity of labor supplied

c. lead to an increase in the quantity of labor supplied only if leisure is like a normal good

d. lead to an increase in the quantity of labor supplied only if leisure is not a normal good

e. lead to an increase in the quantity of labor supplied only if the income effect works in the same direction

Reference no: EM13815209

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