Question

According to the substitution effect, in response to a decrease in wage, a person will likely(1 point) Responses Reduce hours to substitute work for leisure Reduce hours to substitute work for leisure Reduce hours to substitute leisure for work Reduce hours to substitute leisure for work Increase hours to substitute work for leisure Increase hours to substitute work for leisure Increase hours to substitute leisure for work Increase hours to substitute leisure for work

Answer 1

Reduce hours to substitute work for leisure