Question: Daniel was earning $65 per hour and working 45 hours per week. Then Daniel's wage rose to $75 per hour, and as a result, he

Daniel was earning $65 per hour and working 45 hours per week. Then Daniel's wage rose to $75 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?

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