Shweta posted an Question
October 03, 2021 • 03:21 am 30 points
  • UGC NET
  • Human Resource Management

Pls explain labor supply bending curve with example n also types

pls explain labor supply bending curve with example n also types

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  • Rucha rajesh shingvekar Best Answer

    The key to the tradeoff is a comparison between the wage received from each hour of working and the amount of satisfaction generated by the use of unpaid time. ... However, the backward-bending labour supply curve occurs when an even higher wage actually entices people to work less and consume more leisure or unpaid time. When a person's wage increases, she works fewer hours - she has what is called a "backwards bending labour supply curve."

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