Question:
Explain why the Supply Curve for Labour slopes Upwards
Author: eric_galvaoAnswer:
-Individuals are Prepared to work more hours when the Wage Rate Increases. There, however, are limits to how many hours someone will work, even if Wages keep Increasing. -So Individual Workers will be limited to the amount of Labour they can Supply, but, the Higher Wages will incentivise more Workers to the Job/Occupation. This Increases the Labour Supply -This means the Curve slopes upwards.
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