If all employers pay an efficiency wage,then

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Efficiency wages are wages that are higher than the market clearing wage in order to motivate workers to work harder and increase productivity. However, if all employers pay an efficiency wage, unemployment would be higher because the demand for labor would decrease at higher wage rates. This is because the demand for labor is based on the value of the marginal product of labor, and if wages are artificially inflated, firms may not be willing to hire as many workers as before. Shirking and monitoring productivity may be factors that firms consider when deciding to pay an efficiency wage, but they are not direct consequences of all employers paying an efficiency wage.

If All Employers Pay an Efficiency Wage,then