A Backward-Bending Labor Supply Curve Occurs When

question 74

Multiple Choice

A backward-bending labor supply curve occurs when:

• A) the substitution effect of a wage increase is greater than the income effect.
• B) the income effect of a wage increase is greater than the substitution effect.
• C) the substitution effect of a wage increase equals the income effect.
• D) a negatively sloped labor supply curve is not possible.

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