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______________________ argues that the productivity of workers will increase if they are paid more, and so employers will often find it worthwhile to pay their employees somewhat more than market conditions might dictate. Group of answer choices

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Efficiency wage theory argues that the productivity of workers will increase if they are paid more, and so employers will often find it worthwhile to pay their employees somewhat more than market conditions might dictate.

Employers who offer efficiency salaries above the minimum wage do so to keep skilled people on staff, boost output, or maintain loyalty. The efficiency wage theory explains why businesses are hesitant to reduce pay even in the face of heightened competition or during recessions.

Workers may experience unemployment because they are paid more than the equilibrium pay, which draws in more workers. Therefore, in contrast to theories that place a strong emphasis on government intervention, such as minimum wages, efficiency wages offer a market failure explanation of unemployment.

Learn more about Efficiency wage theory here https://brainly.com/question/13782323

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