True or False: The labor suppy curve of an individual is upward sloping everywhere only in the case where..?

True or False: The labor supply curve of an individual is upward sloping everywhere only in the case where leisure is an normal good. Explain...





Please help...I am having a difficult time finding the answer...True or False: The labor suppy curve of an individual is upward sloping everywhere only in the case where..?
false. and indiv labor supply curve can be backwards bending (and is, actually, backwards bending for everyone at some point). You are lost because you are not recalling the substitution and income affect. Look them up. There should be a graph with the curve.





To say outright that a labor supply curve for an in div is upward slopping is absurd, because a labor supply curve, at the worst, has to turn in to being perfectly inelastic (straight up and down), if not backward bending (which is what it actually is).





Remember, resources are scarce, so there has to be a point where all supply curves (besides perfectly elastic curves..which I may add is entirely theoretical and not actually real) become perfectly inelastic. This is inherent in a supply curve. For if resources were not scarce, there would be no supply cuve.