Answer to Question #130325 in Microeconomics for Thabisile

Question

Use a graph to illustrate and explain the individual supply of labour curve. In your
answer, describe the forces that determine the form (shape) of the individual
supply of labour curve.

Answer 1

The individual labour supply is the number of hours workers are willing and able to supply at a prevailing wage rate.

The individual labour supply curve for any occupation will be upward sloping,resulting from increase of wages as other workers are incentivized of higher rewards and enter the new occupation. This workers were unemployed as result of high wages they are willing to work at the new occupation at prevailing wages rate.