Because leisure time has value to many workers,as wages increase,the labor supply curve
A) has a positive slope.
B) bends backwards and has a negative slope.
C) becomes a horizontal line.
D) becomes a vertical line.
E) bends forward and has a positive slope.

Question

Quizplus · Accepted Answer

As wages increase, workers are willing to supply less labor and take more leisure time. This results in a backward-bending labor supply curve, where as wages increase beyond a certain point, the amount of labor supplied actually decreases.

Because Leisure Time Has Value to Many Workers,as Wages Increase,the