The efficiency wage theory argues that (a) Firm choose to pay a lower wage than the classical equilibrium wage, thus the real wage is lower than the wage at which the labor market clears (b) Firm...


The efficiency wage theory argues that<br>(a) Firm choose to pay a lower wage than the classical equilibrium wage, thus the real wage is<br>lower than the wage at which the labor market clears<br>(b) Firm choose to pay a lower wage than the classical equilibrium wage, thus the real wage is<br>higher than the wage at which the labor market clears<br>(c) Firm choose to pay a higher wage than the classical equilibrium wage, thus the real wage is<br>lower than the wage at which the labor market clears.<br>(d) Firm choose to pay a higher wage than the classical equilibrium wage, thus the real wage is<br>higher than the wage at which the labor market clears<br>

Extracted text: The efficiency wage theory argues that (a) Firm choose to pay a lower wage than the classical equilibrium wage, thus the real wage is lower than the wage at which the labor market clears (b) Firm choose to pay a lower wage than the classical equilibrium wage, thus the real wage is higher than the wage at which the labor market clears (c) Firm choose to pay a higher wage than the classical equilibrium wage, thus the real wage is lower than the wage at which the labor market clears. (d) Firm choose to pay a higher wage than the classical equilibrium wage, thus the real wage is higher than the wage at which the labor market clears

Jun 09, 2022
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