A firm might offer efficiency wages in order to attract a better pool of applicants.

Name: A firm might offer efficiency wages in order to attract a better pool of applicants.
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Question

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Offering efficiency wages, which are higher than the market-clearing level, can attract a better pool of applicants by signaling a higher-quality work environment and better compensation, thus potentially increasing the overall quality of the workforce.

A Firm Might Offer Efficiency Wages in Order to Attract