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The phenomenon of the backward-bending market supply curve for-(Answered)

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Question

The phenomenon of the backward-bending market supply curve for labor

a. reflects the policy of labor unions.

b. reflects the scarcity of high-priced, highly skilled labor.

c. results from workers? preference for leisure over work.

d. results from the effect of the decrease in the cost of leisure as wage rates rise.

e. indicates an increasing desire for leisure as income rises

 

Paper#9209168 | Written in 27-Jul-2016

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