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3 April, 06:23

An efficiency wage is A. an above-market wage paid by a firm to maximize the output of the firm. B. a below-market wage paid by a firm to maximize firm profits. C. an above-market wage paid by a firm to maximize worker productivity. D. equal to the market-clearing wage, so that social welfare is maximized.

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  1. 3 April, 06:25
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    A. an above-market wage paid by a firm to maximize the output of the firm.

    Explanation:

    An efficiency wage is paid to employees in excess of the market or equilibrium wage in order to boost their morale. This will have an overall effect of increasing the employees' productivity or efficiency as well as reducing costs associated with turnover such as orientation and training costs of new staff.
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Home » Business » An efficiency wage is A. an above-market wage paid by a firm to maximize the output of the firm. B. a below-market wage paid by a firm to maximize firm profits. C. an above-market wage paid by a firm to maximize worker productivity. D.
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