Asked by
Confidence Kwenaite96
on Nov 16, 2024Verified
A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.
Efficiency Wages
Wages set above the market-clearing level by employers to increase worker productivity, discourage turnover, and reduce shirking.
Nutritious Diet
A diet that provides all the essential nutrients in correct proportions for healthy living.
- Understand the concept and implications of efficiency wages in the context of labor productivity and firm practices.
Verified Answer
MO
Learning Objectives
- Understand the concept and implications of efficiency wages in the context of labor productivity and firm practices.