Wage rate has increased 1. more hours of work would offered price of leisure has increased household has chosen to purchase less leisure, choosing more hours of work 2. fewer hours of work would offered households income is now so high it chooses to offer less work and take more leisure 3. same hours of work would offeredWage rate has increased… 1. more hours of work would offered • price of leisure has increased • household has chosen to purchase less leisure, choosing more hours of work 2. fewer hours of work would offered • household’s income is now so high • it chooses to offer less work and take more leisure 3. same hours of work would offered