Firms Are Most Likely to Set an Efficiency Wage Above

question 19

Multiple Choice

Firms are most likely to set an efficiency wage above the competitive wage if

• A) the firm does not know what the competitive wage is.
• B) workers refuse to work at the competitive wage.
• C) most of its workers are not educated.
• D) firms find it expensive to monitor worker output.
• E) the firm is not concerned with maximizing profits.

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Definitions:

Ralph Nader

An American activist, author, lecturer, and attorney noted for his involvement in consumer protection, environmentalism, and government reform movements.

Citizen Action

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Public Interest Groups

Organizations that advocate for issues of widespread concern to the public, aiming to influence policy decisions and public opinion.

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Techniques or tactics employed by individuals or groups outside of the established political, social, or economic systems to achieve their goals, often through unconventional means.