Practicing Success
Practicing Success
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| Read the following statements - Assertion (A) and Reasoning (R): Assertion: Even though individual labour supply curve is backward bending, market supply curve is upward sloping. Reasoning: Though at higher wages some individuals may be willing to work less, many more individuals will be attracted to supply more labour. |
Both Assertion (A) and Reasoning (R) are true and Reasoning (R) is not the correct explanation of Assertion (A). Assertion (A) is true but Reasoning (R) is false. Both Assertion (A) and Reasoning (R) are true and Reasoning (R) is the correct explanation of Assertion (A). Assertion (A) is false but Reasoning (R) is true. |
| Both Assertion (A) and Reasoning (R) are true and Reasoning (R) is the correct explanation of Assertion (A). |
| The market supply curve of labour, which we obtain by aggregating individuals supply at different wages, will be upward sloping because though at higher wages some individuals may be willing to work less, many more individuals will be attracted to supply more labour. |
