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Given the freedom to choose, employees rationally decide the number of work hours based on many facts. This rationality is based on many factors such
Given the freedom to choose, employees rationally decide the number of work hours based on many facts. This rationality is based on many factors such as their taste and preferences and constraints. Thus, the supply of labor curve for the individual is determined. And based on individual supply-of-labor curves, the market supply curve is engendered. Individual supply curves can be downward sloping but the market supply curve is very likely upward sloping.
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