Re:Explore Wealth and Income Inequality in the World Wealth ...
by tuna-piano on Wednesday November 08, 2017 @06:26PM
(#15658156)
The other thing is that in life there’s a trade off between leisure time and work time. The more you get paid, the more likely you are to want to work more. If you only make $7 an hour, your opportunity cost for an hour of TV is $7. If you make $100, your opportunity cost is $100.
If course it isn’t that simple, and there are other effects (google the labor s curve), but that’s the general idea.
If course it isn’t that simple, and there are other effects (google the labor s curve), but that’s the general idea.