An individual worker's labor supply curve slopes backward if that person responds to a lower opportunity...
An individual worker's labor supply curve slopes backward if that person responds to a lower opportunity cost of leisure by working fewer hours per week.
true or false
An increase in the number of women willing to work in the labor markets instead of staying at home with children would cause the labor supply curve to shift to the right.
true or false
Ceteris paribus, a decrease in the wage rate for community college instructors would cause the labor supply curve of community college instructors to shift to the left.
true or false
Homework Answers
a) False, as the wages increase the opportunity cost of leisure will also increase in the market.
b) True, as the labor force in the market increase and the supply of the labor increase this will shift the labor supply curve to the right as more and more people will be available to work at the given wages.
c) False, it will only cause a movement along the supply curve not shift the supply curve itself.
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An individual worker's labor supply curve slopes backward if
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