In the labor market depicted in Figure 7.3, an increase in the income tax would result in:

Name: In the labor market depicted in Figure 7.3, an increase in the income tax would result in:
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An increase in income tax would decrease the net income earned by workers. This would reduce the incentive for workers to participate in the labor market and cause a shift in the labor supply curve to the left, from 11eab38d_073e_8617_a5fb_77745b56a750_TB6622_11 to 11eab38d_073e_ad28_a5fb_0fd2d78638fc_TB6622_11.

In the Labor Market Depicted in Figure 7