diagram above. What is the significance of the point marked L1 at the bottom upward-sloping portion of the individual labor supply (2) curve? Question 46 options: a) as wages increase over this range, the quantity of hours worked also increases. b) as wages increase of this range, the quantity of hours worked is inelastic. c) as wages increase over this range, the quantity of hours worked changes very little. d) as wages increase over this range, the quantity of hours worked actually decreases