Questions are based on the following diagram:
-The equilibrium positions shown imply that in the relevant wage range,this person is:
A) on the upsloping segment of the individual labor supply curve
B) on the backward-bending segment of the individual labor supply curve
C) at the point on the individual labor supply curve where the income and substitution effects are equal
D) being offered a wage less than the reservation wage
Correct Answer:
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