Suppose that Company A requires that its employees complete a time-consuming training sequence upon being hired. Providing this training is expensive for Company A so it does not want to lose employees its invested in. To entice employees to stay, Company A pays its workers above market wage. Which of the following models does this scenario illustrate?
a) the implicit contract model
b) the adverse selection of wage cuts argument
c) efficiency wage theory
d) the relative wage coordination argument
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