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Discuss the overall impact on hours of work

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Discuss the overall impact on hours of work and the slope of labour supply curve under the workleisure decision model on: (i) A decrease in wage rate when income effect dominates substitution effect. (ii) A decrease in wage rate when substitution effect dominates income effect. (iii) An increase in wage rate when substitution effect equals income effect.

Reference no: EM133027393

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