What does an upward-sloping supply curve mean

Question

Quizplus · Accepted Answer

An upward-sloping supply curve means that as the wage rate increases, workers are willing to supply more labour. This suggests that an increase in the opportunity cost of leisure, such as higher wages, leads workers to work more hours to earn more income. Therefore, option (C) is the best choice. Option (A) and (B) are incorrect because they suggest that workers prefer to work less when their incomes increase or when wages are high, which contradicts the concept of a supply curve. Option (D) is also incorrect because the shape of the supply curve does not necessarily relate to the productivity of workers.

What Does an Upward-Sloping Supply Curve Mean