Multiple Choice
Renee is the CEO of a corporation that hires nonunion labor. According to the theory of efficiency wages, if she decides to pay her workers more than the competitive equilibrium wage, then
A) the profits of her firm might increase.
B) the higher wages will induce her workers to shirk.
C) the turnover of her workers may increase.
D) she will face a shortage of labor.
Correct Answer:
Verified
Correct Answer:
Verified
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