The Theory of "Efficiency Wages" Provides

The theory of "efficiency wages" provides

A) a way in which firms can pay workers less than the market-clearing wage.
B) an explanation for the high wages that unions are able to extract from firms.
C) many firms with a good reason to dismiss workers.
D) most workers with a good reason to quit.
E) one explanation for why wages do not readily fall in response to excess supply in labour markets.