When the price of labor increases, the substitution effect will ________ the quantity of labor demanded and the output effect will ________ it

Refer to Table 2-13. What is Horace's opportunity cost of bathing a cat?

A) one and a half groomed dogs B) two groomed dogs C) two-thirds of a groomed dog D) half a groomed dog

Which of the following is an example of a concept from behavioral economics?

a. compartmentalizing b. the endowment effect c. behavior based on perceived fairness d. all of the above