Refer to the information provided in Figure 28.2 below to answer ...

[abarnes]

Question 1

Which of the following is 
not a reason why firms pay efficiency wages?

◦ to reduce turnovers
◦ to abide by minimum wage laws
◦ to improve morale
◦ to reduce shirking of work

Question 2

Refer to the information provided in Figure 28.2 below to answer the question(s) that follow.





Refer to Figure 28.2. Assume that the productivity of workers increases as the wage rate increases. The efficiency wage

◦ would be below $10.
◦ would equal $10.
◦ would be above $10.
◦ could either be above or below $10.

[cadimas]

Answer 1

to abide by minimum wage laws

Answer 2

would be above $10.

[abarnes]

Thank you!

[cadimas]

Always glad to help...

[chandani]

Question 1

Refer to the information provided in Figure 28.2 below to answer the question(s) that follow.





Refer to Figure 28.2. If this firm pays the efficient wage of $11

◦ the firm's demand for labor will increase until $11 is also the equilibrium wage.
◦ the supply of labor will decrease until $11 is also the equilibrium wage.
◦ there will be an excess supply of labor of 2,000.
◦ there will be an excess supply of labor of 3,000.

Question 2

Refer to the information provided in Figure 28.2 below to answer the question(s) that follow.





Refer to Figure 28.2. Assume that the productivity of workers decreases as the wage rate decreases. The efficiency wage

◦ would be below $10.
◦ would equal $10.
◦ would be above $10.
◦ could either be above or below $10.

[ApricotDream]

Answer 1

there will be an excess supply of labor of 3,000.

Answer 2

would be above $10.