Why Might Firms Pay Wages That Are Above the Equilibrium

question 93

Multiple Choice

Why might firms pay wages that are above the equilibrium wage in a market?

• A)to increase the productivity of their workers
• B)to reduce the unemployment rate
• C)to encourage workers to form labour unions
• D)to reduce profit
• E)to avoid federal corporate income taxes

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Definitions:

Brand's Appeal

is the attractive quality or feature of a brand that draws consumers towards it, influencing their perception and purchase decisions.

Communicate

The act of conveying information or expressing ideas and feelings through verbal or nonverbal means.

Segmentation

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors who might require separate products or marketing strategies.

Psychographics

The study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.