Why might an individual's labor supply curve bend backwards?
A) As wages rise above a threshold level, the individual will decide to work harder.
B) As wages rise above a threshold level, the individual may opt for more leisure time.
C) As wages rise above a threshold level, firms limit the amount of hours that a worker can work.
D) When wages rise, firms hire fewer workers.
Correct Answer:
Verified
Q44: Which of the following is TRUE?
I. The
Q45: The normal shape of the labor market
Q46: Figure: Market for Plumbers Q47: When labor supply decreases, the wage is Q48: When labor supply increases, the wage is Q50: The market supply curve for labor: Q51: The market wage for workers is: Q52: A high demand for labor in one Q53: An individual's labor supply curve: Q54: Which of the following statements is TRUE?
A) slopes
I. equal
A) is always
A)
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