Which of the following statements would be represented by a backward-bending labor supply curve?
A) A $50,000-a-year professor works more hours than a $20,000-a-year professor.
B) The CEO of a major computer manufacturer works more hours than the union workers.
C) The owners of a successful business work fewer days than their employees.
D) Hospital janitors work fewer hours than the chief of obstetrics.
E) High-ranking executives are more likely to work past 5:00 p.m. than middle-level managers.
Correct Answer:
Verified
Q20: People who earn higher market wages,other things
Q21: Exhibit 12.1 Q22: The average workweek in the United States Q23: If nonmarket work is a normal good,then Q24: The income and substitution effects of a Q26: Because leisure is a normal good,an increase Q27: The substitution effect of a decrease in
![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents