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4 August, 23:33

What concept is associated with the notion that employers can get greater effort from workers by paying them a relatively high, above-equilibrium wage? A. profit sharingB. efficiency wagesC. piece-rate wagesD. bonus or commissions

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  1. 5 August, 02:37
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    The correct answer is letter "B": efficiency wages.

    Explanation:

    Efficiency wage is the amount of money companies are willing to pay employees that is above the equilibrium wage in order to motivate them to increase the organization's productivity, thus, the firm's profits. This scenario implies that as workers are paid higher the unemployment rate is lower.
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