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Supply of Labor in Perfect Competition
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Supply of Labor in Perfect Competition
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15. Markets for the Factors of Production / Supply of Labor in Perfect Competition / Problem 1
Problem 1
How does the concept of normal goods apply to leisure demand as income levels rise?
A
Leisure demand increases as it is considered a normal good.
B
Leisure demand decreases as it is considered an inferior good.
C
Leisure demand remains unchanged as it is considered a normal good.
D
Leisure demand decreases as it is considered a normal good.
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