Explain backward-bending supply curves in the wage

Reference no: EM13177629

Market supply of labor The following table shows the hours per week supplied to a particular market by three individuals at various wage rates. Calculate the total hours per week (QT) supplied to the market.

Hourly Wage Hours per week
Q1 Q2 Q3 QT

$15 20 0 0 ___
16 25 0 0 ___
17 35 10 0 ___
18 45 25 10 ___
19 42 40 30 ___
20 38 37 45 ___

Which individuals, if any, have backward-bending supply curves in the wage in the wage range shown in the table?

Reference no: EM13177629

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