Efficiency wages are above-market wages that are paid to workers to keep them productive.
Answer the following statement true (T) or false (F)
True
See the definition of efficiency wages in the textbook.
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Graphing the data in the above table with the number of workers on the horizontal axis and the average cost on the vertical axis, the graph would show
A) first a negative and then a positive relationship. B) a horizontal line. C) no relationship. D) a linear relationship.
Suppose a player in a game has a dominant strategy, but they threaten to take another action. Can this threat be credible?
A) No, such threats are never credible to other rational players. B) No, if the player has a dominant strategy, they must take this action. C) Yes, if they can link the current game to another bargaining problem in which their joint strategy for the combined games is rational. D) Yes, dominant strategies may not always yield the highest payoffs.