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explain how a backwards bending labor supply curve affects the incidence of a tax on wages

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Advance Math

explain how a backwards bending labor supply curve affects theincidence of a tax on wages

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A typical supply curve shows an increase in supply as wagesrise It slopes from left to right However in labor markets wecan often witness a backward bending supply curve This means aftera certain point higher wages can lead to a decline in laborsupplyThe reason is that there are two effects related to determiningsupplyThe substitution effect states that a higher wage makes workmore attractive    See Answer
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