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WAEC Economics 2016 Question 12

Question 12

Labour Market

The tendency for workers to value their leisure hours more than hours of work as wage rate increases gives rise to

  1. A.positively sloping supply curve.
  2. B.perfectly elastic supply curve.
  3. C.backward bending supply curve.
  4. D.perfectly inelastic supply curve.
Show the answer and explanation

Answer: C (backward bending supply curve.)

Explanation

Beyond some wage, workers choose more leisure, so the labour supply curve bends backwards.