A backward-bending labor supply curve could possibly imply which of the following cases?
A)Leisure is an inferior good.
B)Leisure is a normal good.
C)Leisure is a normal good at low wages and inferior at high wages.
D)None of the above.

Question

Quizplus · Accepted Answer

The backward-bending labor supply curve implies that as wages increase beyond a certain point, individuals prefer to work less and consume more leisure, indicating that leisure is a normal good.

A Backward-Bending Labor Supply Curve Could Possibly Imply Which of the Following