An individual's labor supply curve Multiple Choice always slopes downward. slopes upward initially and then may bend backward. slopes downward initially and then may bend upward. always slopes upward.

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14-06-2022
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An individual's labor supply curve Multiple Choice always slopes downward. slopes upward initially and then may bend backward. slopes downward initially and then may bend upward. always slopes upward.

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suchetasVT suchetasVT · Answer 1 · 2022-06-28T07:29:19+02:00

In the case of an individual's labor supply curve, the curve slopes upward initially and then may bend backward. Therefore, The correct statement is Option A.

What do you know about an individual's labor supply curve?

An individual's labor supply curve measures out the range of hours they're inclined to work at exclusive wages and the equal manner that a seller's supply curve marks out how much they are inclined to sell at exclusive prices.

An individual's labor supply curve slopes from left to right. However, in labor markets, we are able to regularly witness a backward bending supply curve. This way after a certain point, higher wages can result in a decline in labor supply.

Therefore, An individual's labor supply curve slopes upward initially and then may bend backward. The correct statement is Option A.

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