The labor supply curve for an individual is typically upward sloping but at a decreasing rate.

Name: The labor supply curve for an individual is typically upward sloping but at a decreasing rate.
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The labor supply curve for an individual can initially slope upwards as wage increases lead to more labor supplied, but beyond a certain point, it can bend backward, indicating a decrease in labor supplied as wages continue to rise due to the income effect outweighing the substitution effect.

The Labor Supply Curve for an Individual Is Typically Upward