An individual's labor-supply curve reveals how he or she chooses to allocate
a. limited dollars between luxuries and necessities.
b. scarce money between goods and services.
c. scarce time between labor and leisure.
d. limited time between work at one job and work at another.
Answer: c. scarce time between labor and leisure.
Economics
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A second-price auction
a. is also called a Vickrey auction b. is where bidders submit increasing bids until all but one remains c. is where the sole remaining bidder wins and pays his winning bid d. all of the above
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