The Theory of "Efficiency Wages" Provides

The theory of "efficiency wages" provides

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