Daniel had been earning $72 per hour and working 45 hours per week. then daniel's wage changes to $64 per hour, and as a result, he now works 40 hours per week.
what can we conclude from this information about the income effect and the substitution effect of a wage change for daniel?

the substitution effect causes daniel to devote (1) time to working, the income effect causes daniel to devote ( time to working, and the substitution effect is ( the income effect.

1.) the substitution effect causes daniel to devote time to

a. the same amount of time
b. more
c. less

2.) income effect causes daniel to devote time to

a. more
b. the same amount of
c. less

3.) substitution effect is ( the income effect.

a. smaller than
b. larger than
c. the same size as

If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?

R& m chatelaine is one of the largest tax-preparation firms in the united states. it wants to acquire the tax experts, a smaller rival. after the merger, chatelaine will be one of the two largest income-tax preparers in the u. s. market. what should chatelaine include in its acquisition plans? it should refocus its attention from the national to the international market. in addition to acquiring the tax experts, it should also determine the best way to drive independent "mom and pop" tax preparers out of business. chatelaine will need to explain to the federal trade commission how the acquisition will not result in an increase in prices for consumers. chatelaine should enter a price-based competition with its other major competitor to force it out of business and become a monopoly.

Imprudential, inc., has an unfunded pension liability of $572 million that must be paid in 25 years. to assess the value of the firm’s stock, financial analysts want to discount this liability back to the present. if the relevant discount rate is 6.5 percent, what is the present value of this liability? (do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e. g., 1,234,567.89)