In December 2024
Answer to Question #91069 in Microeconomics for John Manda
work and leisure.Suppose the wage increases. Is it possible that the person’s
consumption would fall? Is this plausible? Discuss
Indifference curve is a curve on a graph (the axes of which represent quantities of two commodities - work and leisure in our case) linking those combinations of quantities which the consumer regards as of equal value.
If the wage increases, the person’s
consumption would change, because he will consume more work and less leisure.
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