Exhibit 12.7 -Refer to Exhibit 12.7,which Shows a Backward-Bending Labor Supply Curve

question 117

True/False

Exhibit 12.7

-Refer to Exhibit 12.7,which shows a backward-bending labor supply curve for an individual.In the figure below,when the wage rate rises above $12,the substitution effect outweighs the income effect.

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