Question

Assertion (A) : Labour supply curve bends backwards.

Reasoning (R) : Beyond certain wage level, workers prefer leisure to work.

Options : 1) (A) is True, but (R) is False

2) (A) is False, but (R) is True

3) Both (A) and (R) are True and (R) is the correct explanation of (A)

4) Both (A) and (R) are True and (R) is not the correct explanation of

(A)
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Answer 1

Answer:

In economics, a backward-bending supply curve of labour, or backward-bending labour supply curve, is a graphical device showing a situation in which as real (inflation-corrected) wages increase beyond a certain level.

Answer 2

Assertion (A) : Labour supply curve bends backwards.

Reasoning (R) : Beyond certain wage level, workers prefer leisure to work.

In economics, a backward-bending supply curve of labor, or backward-bending labor supply curve, is a graphical device showing a situation in which real (inflation-corrected) wages increase beyond a certain level.

This implies that Both (A) and (R) are true and (R) is the correct explanation of (A)