A college professor hires a student to babysit her children and pays the student an efficiency wage. Which of the following is correct about the wage the student earns?
A) The wage is higher than the wage the student could earn working a similar job elsewhere.
B) The wage is the same as the wage the student could earn working a similar job elsewhere.
C) The wage is lower than the wage the student could earn working a similar job elsewhere.
D) The wage is likely to result in the student shirking responsibilities.
Correct Answer:
Verified
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