The wage level decision is a management policy decision about whether a firm wants to pay above, at, or below the going rate for labor in the industry or the geographic area.
<h3>What is labor market equilibrium?</h3>
The labor market is in equilibrium when supply equals demand. This means that workers are employed at a certain wage rate.
In equilibrium, all persons who are looking for work at the going wage can find a job. Here, firms decide whether or not to pay wage above certain rate.
Hence, the wage level decision is a management policy decision about whether a firm wants to pay above, at, or below the going rate for labor in the industry or the geographic area.
Learn more about labor market equilibrium here : brainly.com/question/26281019