WAEC Economics 2016 Objective — Question 12

Question 12 of 50 from the West African Examinations Council (WAEC) Economics 2016 Objective paper, with the correct answer and a full explanation.

12. The tendency for workers to value their leisure hours more than hours of work as wage rate increases gives rise to (a) positively sloping supply curve (b) perfectly elastic supply curve (c) backward bending supply curve (d) perfectly inelastic supply curve

A. positively sloping supply curve
B. perfectly elastic supply curve
C. backward bending supply curveCorrect
D. perfectly inelastic supply curve

Explanation

If the wage rate increases to a certain level, workers will prefer to play than to work. This will result in a backward sloping labour supply curve.

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