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Economics
Which of the following statements about efficiency wage theory is true ?
A
Paying above the competitive equilibrium wage tends to cause workers to shirk their responsibilities
Option A
B
Firms do not have a choice about whether they pay efficiency wages or not because these wages are determined by law
Option B
C
Paying the lowest possible wage is always the most efficient (Profitable)
Option C
Paying above the competitive equilibrium wage may improve worker health lower worker turnover improve worker quality and increase worker effort
Correct answer
Correct answer: D
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