Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. advance math
  3. explain how a backwards bending labor supply curve

explain how a backwards bending labor supply curve affects the incidence of a tax on wages

50.1K

Verified Solution

Question

Advance Math

explain how a backwards bending labor supply curve affects theincidence of a tax on wages

Answer & Explanation Solved by verified expert
3.9 Ratings (606 Votes)
A typical supply curve shows an increase in supply as wagesrise It slopes from left to right However in labor markets wecan often witness a backward bending supply curve This means aftera certain point higher wages can lead to a decline in laborsupplyThe reason is that there are two effects related to determiningsupplyThe substitution effect states that a higher wage makes workmore attractive    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Algebra
1.2K views

Simplify the rational expression into lowest terms A B 4 2 322 48 3 x...

Biology
1.2K views

When a ribosome cannot dissociate from an mRNA molecule it depletes the pool of ribosomes...

Basic Math
1.2K views

In an encyclopedia of language, the author presents five sentences that make a reasonable paragraph...

Statistics
1.2K views

Consider the following data set that shows the number of hours a week families in...

Algebra
1.2K views

Angle is in standard position and has its terminal side in Quadrant II If tan...

Accounting
1.2K views

Which of the following is not reported in the schedule of funding progress for a...

Accounting
1.2K views

On April 1, 2015, Jiro Nozomi created a new travel agency, Adventure Travel. The following...

Accounting
1.2K views

Sandhill Co. reports: Cash provided by operating activities $...

Accounting
1.2K views

Write a brief note of Cooperate Feed network. Clearly discuss how and why different microstrip...

Finance
1.2K views

Question 6 5 pts Ocean Holding Corp's expected year-end dividend (D) is $4.00, and its...

Accounting
1.2K views

Elvin Hospital bases its budgets on patient-visits. The hospital's static planning budget for May appears...

Finance
1.2K views

Forecasting Assignment and Popularity Index (PI) To be done individually within the forecast format ...