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Sergeeva-Olga [200]
3 years ago
13

fficiency wages, minimum-wage laws, and unions all keep wages a. below the equilibrium level, causing a shortage of labor. b. be

low the equilibrium level, causing a surplus of labor. c. above the equilibrium level, causing a shortage of labor. d. above the equilibrium level, causing a surplus of labor.
Business
1 answer:
Inessa [10]3 years ago
8 0

Answer:

d. above the equilibrium level, causing a surplus of labor.

Explanation:

Market wage equilibrium refers to the ideal wage rate where the labor supply and demand curves intersect. At equilibrium wage, the benefits derived from an extra worker equals the cost associated with the additional worker.

The efficiency wage theory advocates for higher wages to motivate employees to increase production. Minimum wage laws and trades unions negotiate for higher wages above the equilibrium rate. Trade unions will fight to keep the maximum number of employees or their members in employment.

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In my experience, I had a goal to secure more than 70 percent in my final year of graduation. By clearing my goal and objective i took every step in the year to achieve that goal. This made me help myself to keep control.

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