The supply of labor curve for an individual is

Question

Quizplus · Accepted Answer

The supply of labor curve for an individual is upward sloping at lower wage rates because workers are willing to supply more labor as the wage rate increases. However, there is a point where the wage rate becomes so high that workers may choose to work less or not at all, leading to a downward sloping curve. This is because they may value leisure time more highly at this point and feel that the high wage rate is not worth sacrificing their leisure time. Therefore, the answer is C, as the curve begins to slope downward at higher wage rates.

The Supply of Labor Curve for an Individual Is