Introduction to Economics 1 Deneme Sınavı Sorusu #829606
''When the wage is high enough, some of the workers may decide that they can afford to work less and spend more leisure time''. How is this situation shown in the labor supply/demand curves?
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The labor demand curve shifts left. |
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The labor supply curve shifts right. |
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The labor supply curve shifts left. |
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A backward-bending labor supply curve is created. |
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A backward-bending labor demand curve is created. |
When the wage is high enough, some of the workers may decide that they have can afford to work less and spend more leisure time, since they can make enough money to pay for their bills even if they work less. So, after a high level of wages, people may start to work less if wage increases. This may create what is called a backward-bending supply curve for labor
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