5. The theory of efficiency wages Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor? Check all that apply. O Higher wages attract a more competent pool of workers. O Paying higher wages enhances workers to adopt healthier lifestyles, enhancing their productivity. O Paying higher wages tends to reduce the average experience level of a firm's workers. O Paying higher wages encourages workers to be more productive.

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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5. The theory of efficiency wages
Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor? Check al that apply.
O Higher wages attract a more competent pool of workers.
O Paying higher wages enhances workers to adopt healthier lifestyles, enhancing their productivity.
O Paying higher wages tends to reduce the average experience level of a firm's workers.
O Paying higher wages encourages workers to be more productive.
Transcribed Image Text:5. The theory of efficiency wages Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor? Check al that apply. O Higher wages attract a more competent pool of workers. O Paying higher wages enhances workers to adopt healthier lifestyles, enhancing their productivity. O Paying higher wages tends to reduce the average experience level of a firm's workers. O Paying higher wages encourages workers to be more productive.
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