October 9, 2015

Homework Help: Economics(Please check, thank you)

Posted by Hannah on Friday, April 19, 2013 at 4:10pm.

Is leisure time considered an inferior good when the substitution effect dominates?

I think that the answer is yes because if you are willing to work more hours in order to make more money than you do not value leisure time that much.

Is this correct? Thank you!

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