Suppose that Mike wants to pay efficiency wages to help in the construction of his beach home.If the prevailing wage rate for electricians is $22 per hour in his area,one possible efficiency wage he could pay would be:

A) $22.
B) $26.
C) $18.
D) the minimum wage.

Efficiency Wages

A theory in labor economics that suggests higher wages can increase worker productivity and efficiency, often leading to lower turnover and improved quality of work.

Prevailing Wage

The average wage paid to similarly employed workers in a specific region, occupation, or industry.