If You Won The State Lottery And Got A Big Increase In Non Labor Income What Would H 2551744

If you won the state lottery and got a big increase in non-labor income,

  • What would happen to your supply of labor?
  • What would happen to your demand for leisure?
  • What does this imply about the response of the consumer’s labor supply to changes in wage rate?
  • Is there a substitution or income effect?

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Prof. Angela

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