A backward-bending portion of an individual labor supply curve is most likely to be observed:

Question

Quizplus · Accepted Answer

A backward-bending portion of the labor supply curve occurs when higher wages lead to individuals reducing their labor supply, typically due to increased leisure time being more appealing than working additional hours. This is more likely to occur at higher wages when the opportunity cost of leisure time becomes lower.

A Backward-Bending Portion of an Individual Labor Supply Curve Is