--%>

Backward bending of individual labor supply curves

The labor supply curve facing a firm or industry is all the time upward sloping still when individual labor supply curves are backward bending since: (w) at higher wages everyone will supply more hours of work. (x) firms never pay wages high adequate to generate the theoretical backward bending portion of labor supply curves. (y) at higher wages, there will be new entrants in the labor market. (z) the work/leisure trade off does not apply into the aggregate.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Managerial Economics

  • Q : Explain the cost function in briefly

    Explain the cost function in briefly.

  • Q : Describe the Long term Demand

    Describe the Long term Demand Forecasting.

  • Q : LEAST probable backward bending supply

    The supply curve of labor is LEAST probable to be “backward bending” for: (1) an individual worker. (2) the economy as a whole. (3) highly specialized industries which are main employers of dedicated PhDs hired only after

  • Q : Main determinants of wage differentials

    Main determinants of wage differentials comprise: (1) general human capital requirements. (2) working conditions. (3) occupational crowding (4) specific human capital requirements. (5) All of the above. I need a go

  • Q : Illustrates the term economic cost

    Illustrates the term economic cost concept briefly?

  • Q : Illustrates the barometric pricing

    Illustrates the barometric pricing briefly?

  • Q : Purely competitive equilibrium labor

    When this purely competitive labor market is firstly in equilibrium at D0L, S0L, an increase within the price of output will result into equilibrium being attained at: (w) D0L, S0L. (x) D1L, S1L. (y) D2L, S1L. (z) D1L, S0L.

    Q : Use of Screening and Credentialism

    Critics of the wide use of screening and signaling within hiring practices argue which: (w) formal training is never very important in preparing workers with necessary skills. (x) worker credentials tend to be negatively related to productivity. (y) l

  • Q : Define the some criticized highlight

    Define the some criticized highlight points of Adam Smith?

  • Q : Theory of wage differentials according

    Adam Smith’s theory of wage differentials is least consistent along with a case wherein a: (i) chef in a five-star restaurant earns a higher wage than a cook into a fast food restaurant. (ii) security guard for a U.S. firm into Baghdad is paid m