A business consultant works 40 hours a week and charges $300 per hour of business consultancy. If
Question:
A business consultant works 40 hours a week and charges $300 per hour of business consultancy. If the consultant raises their fees to $350 per hour, what can we say about the income effect and the substitution effect of the wage change?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
The income effect and substitution effect are economic concepts that help explain the change in beha...View the full answer
Answered By
Muhammad adeel
I am a professional Process/Mechanical engineer having a vast 7 years experience in process industry as well as in academic studies as a instructor. Also equipped with Nebosh IGC and lead auditor (certified).
Having worked at top notch engineering firms, i possess abilities such as designing process equipment, maintaining data sheets, working on projects, technical biddings, designing PFD and PID's etc.
Having worked as an instructor in different engineering institutes and have been involved in different engineering resrearch projects such as refinery equipment designing, thermodynamics, fluid dynamics, chemistry, rotary equipment etc
I can assure a good job within your budget and time deadline
52+ Reviews
60+ Question Solved
Related Book For 
Question Posted:
