Economics
Textbooks
Boundless Economics
Consumer Choice and Utility
Theory of Consumer Choice
Economics Textbooks Boundless Economics Consumer Choice and Utility Theory of Consumer Choice
Economics Textbooks Boundless Economics Consumer Choice and Utility
Economics Textbooks Boundless Economics
Economics Textbooks
Economics
Concept Version 7
Created by Boundless

Applications of Principles on Consumer Choices

Labor Supply Curve

Labor Supply Curve

The concept of labor supply economics is most efficiently communicated via the following graphical representation. This graph demonstrates the relationship between hours work and overall wage rates, demonstrating the shift in utility as wages increase.

Source

    Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:

    Wikimedia.
    http://upload.wikimedia.org/wikipedia/commons/3/3e/Labour_supply.svg CC BY-SA.

Related Terms

  • substitution effect
  • purchasing power
  • Income Effect
  • Subjects
    • Accounting
    • Algebra
    • Art History
    • Biology
    • Business
    • Calculus
    • Chemistry
    • Communications
    • Economics
    • Finance
    • Management
    • Marketing
    • Microbiology
    • Physics
    • Physiology
    • Political Science
    • Psychology
    • Sociology
    • Statistics
    • U.S. History
    • World History
    • Writing

    Except where noted, content and user contributions on this site are licensed under CC BY-SA 4.0 with attribution required.