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13Considering the third assumption of labor market theory, although some
firms find lowering the job requirements and hiring less-skilled workers a better choice than raising wages, this choice incurs:a. lower marginal productivityb. increased training costsc. decreased marginal outputd. higher recruitment costs14The assumption of the upward sloping supply curve may not hold when ____15If company A raises its pay rate one dollar per hour to additional workers and competitors immediately match the increase, what is the most likely result?16Which theory supports the idea that coal mining should be paid more than office clerical work?17The theory that has the most implications for staffing is the ___ theorya. compensating differentialsb. efficiency wagec. signalingd. marginal productivity18Research on efficiency wage theory shows that:19
___ theory is typically associated with greater profits20Rent sharing is most commonly associated with the ____ theory21Implication of the ___ theory is that pay level affects an employer's ability to recruita. human capitalb. reservation wagec. signalingd. efficiency22In ____ theory, pay is described as non-compensatory23The ____ theory is the most influential in explaining pay-level differences24___ sets a max. pay level an employer can pay25Which of the following factors do notaffect an employer's ability to pay high wages?a. product demandb. degree of competition
c. productivity of labord. supply of skilled employees