a
an abnormal supply situation
b
the law of supply
c
that labour supply and wage are directly related
d
that the elasticity of supply is uniform
Explanation
Correct Option
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SirClassic
2 years ago
The CORRECT answer is "B".
EXPLANATION...
Firstly, "BACKWARD BENDING SUPPLY CURVE" simply means "ABNORMAL SUPPLY CURVE", while BACKWARD BENDING DEMAND CURVE" simply means "ABNORMAL DEMAND CURVE",
Secondly, "BACKWARD-BENDING SUPPLY CURVE" OF LABOUR, or "BACKWARD-BENDING LABOUR SUPPLY CURVE", is a Graphical Representation showing a situation that, if REAL WAGES INCREASE beyond a certain level, people will SUBSTITUTE LEISURE for PAID WORKTIME and so HIGHER WAGES will lead to a DECREASE IN THE LABOUR SUPPLY.
