What is the income effect when studying the supply of labor?   A. a decrease in number of hours raises utility B. at greater incomes, workers purchase more goods C. as wage increases, workers choose to work fewer hours D. as wage increases, workers choose to work more hours

Principles of Economics (MindTap Course List)
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Chapter21: The Theory Of Consumer Choice
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What is the income effect when studying the supply of labor?
 
A. a decrease in number of hours raises utility
B. at greater incomes, workers purchase more goods
C. as wage increases, workers choose to work fewer hours
D. as wage increases, workers choose to work more hours
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