​The figure given below shows a backward-bending labor supply curve for an individual. In the figure below, which of the following is true at a wage rate of $14?

a. ​No labor is supplied.

b. ​The income effect equals the substitution effect.

c. ​The supply curve is horizontal.

d. ​The substitution effect dominates the income effect.

e. ​The income effect dominates the substitution effect.

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