A professional tennis player enters fewer tournaments each year as the prize money she wins increases. This observation indicates that the tennis player

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The observation that a professional tennis player enters fewer tournaments as her prize money increases is indicative of a backward-bending labour supply curve. This phenomenon occurs when, beyond a certain level of income, individuals prefer to consume more leisure (and thus supply less labour) as their wage increases, leading to a decrease in the quantity of labour supplied at higher wage rates.

A Professional Tennis Player Enters Fewer Tournaments Each Year as the Prize