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In a competitive labor market, Firm X pays a higher wage than other firms. The only reason it pays a ...

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In a competitive labor market, Firm X pays a higher wage than other firms. The only reason it pays a ...

In a competitive labor market, Firm X pays a higher wage than other firms. The only reason it pays a higher wage is to attract a larger labor pool and get the better workers. Which of the following would we expect to observe about Firm X (as compared to the other firms in the industry)?
A) Firm X makes about the same rate of profit (as other firms).
B) Firm X will have a higher quit rate.
C) Firm X will set up its retirement package so workers retire early.
D) Firm X's wage will continually rise with seniority.

Textbook

Modern Labor Economics: Theory and Public Policy

Edition: 12^th

Authors: Ehrenberg, Smith

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