Labor Supply

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Definitions
Backward-Bending Supply Curve
Backward-Bending Supply Curve Labor Supply Wage Rates Leisure Time Labor Economics
A graphical representation illustrating how increases in wages can lead to a decrease in the amount of labor offered in the market, as individuals begin to substitute leisure for work.
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Definitions
Microeconomics
Microeconomics Economic Behavior Individual Market Participants Optimal Allocation Budgeting Labor Supply Taxation Production Process Costs Marketing Output
The analysis of economic behavior at the level of individual market participants, mainly individual firms or consumers.
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