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a.What are the two effects of an increase in the wage rate on an individual's labor supply decision? Briefly explain each effect.
b.Explain how a labor supply curve could be backward bending.
Impairment
A reduction in function or efficiency of a body part or organ, affecting the individual's day-to-day abilities and activities.
Separation Anxiety Disorder
Condition involving excessive, prolonged anxiety concerning separation from home or from people to whom a person is attached.
Excuses
Reasons or explanations given to justify actions or decisions, often to mitigate blame.
Nauseated
Experiencing discomfort and a feeling of sickness in the stomach, often with an urge to vomit.
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