The labor supply curve is based on the decision of:

Question

Quizplus · Accepted Answer

The labor supply curve is based on the decision of workers on how many hours they want to work and how much leisure they want to enjoy. This is because workers have a limited amount of time, and therefore must decide how to allocate their time between work and leisure. As wages increase, the opportunity cost of leisure time increases, and workers are more likely to choose work over leisure, leading to an upward sloping labor supply curve.

The Labor Supply Curve Is Based on the Decision Of