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Homework answers / question archive / If an individual earns an overtime pay for over 8 hours of work, then how can this be depicted in the standard income-leisure model? In case of higher wages for overtime work is the theory of backward bending labor supply curve always violated? Assume flexibility of preferences

If an individual earns an overtime pay for over 8 hours of work, then how can this be depicted in the standard income-leisure model? In case of higher wages for overtime work is the theory of backward bending labor supply curve always violated? Assume flexibility of preferences

Economics

If an individual earns an overtime pay for over 8 hours of work, then how can this be depicted in the standard income-leisure model?

In case of higher wages for overtime work is the theory of backward bending labor supply curve always violated?

Assume flexibility of preferences. When will overtime pay not work as an incentive for increase in work hours?

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