If an Individual's Supply of Labor Curve Is "Backward Bending

question 19

Multiple Choice

If an individual's supply of labor curve is "backward bending," (that is,labor supply falls at high wage rates) then:

• A)the substitution effect always dominates the income effect.
• B)the income effect always dominates the substitution effect.
• C)the substitution effect dominates at low real wage levels and the income effect dominates at high real wage levels.
• D)the income effect dominates at low real wage levels and the substitution effect dominates at high real wage levels.

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