The efficiency wage is A) lower than the market-clearing wage, to pen
The efficiency wage is
A) lower than the market-clearing wage, to penalize shirking.
B) higher than the market-clearing wage, to penalize shirking.
C) lower than the market-clearing wage, to allow managers the resources to monitor shirking.
D) higher than the market-clearing wage, to reward workers for informing on others who shirk.
E) lower than the market-clearing wage, because of shirking done by managers.
ANSWER
B
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