Which of the following statements is not correct? a. If the income effect is greater than the substitution effect, the labor-supply curve is downward sloping. b. If the substitution effect is greater than the income effect, the labor-supply curve is upward sloping. C. If Miguel experiences a wage decrease and works less, the income effect is greater than the substitution effect for him. d. If Fiona gets a higher wage and works more, the substitution effect is greater than the income effect for her.
