According to the theory of efficiency wages, a. firms may find it profitable to pay aboveequilibrium wages.
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According to the theory of efficiency wages,
a. firms may find it profitable to pay aboveequilibrium wages.
b. an excess supply of labor puts downward pressure on wages.
c. sectoral shifts are the main source of frictional unemployment.
d. right-to-work laws reduce the bargaining power of unions.
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