if an individual’s labor supply curve has a negative slope: group of answer choices the income effect is more powerful than the substitution effect. the income effect is equal to the substitution effect. the income effect is less powerful than the substitution effect. the income effect is equal to the wage.

The supply curve is a visual representation of the relationship between the price of an item or service and the volume delivered over a specific time. On the left vertical axis of a typical image will be the price, and the horizontal axis will be the quantity delivered. The number of items delivered typically increases together with an increase in price on supply curves.

On the basis of demand, supply curves may frequently predict whether a commodity's price will rise or fall, and vice versa. For products with a more elastic supply, the supply curve is steeper (closer to vertical), whereas for products with a less elastic supply, it is shallower (closer to horizontal).

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