1
Question
With increase in wage rate beyond a point, labour supply decreases due to ______.
Open in App
Solution
The correct option is C preference for leisure
When real or inflation adjusted wages increase beyond a certain level workers start substituting non paid works for the paid works ,hence the labour supply decrease due to the preference of leisure.
When real or inflation adjusted wages increase beyond a certain level workers start substituting non paid works for the paid works ,hence the labour supply decrease due to the preference of leisure.
Suggest Corrections
0
Similar questions
View More
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
