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The Merrick Differential Piece Rate System provides a guaranteed minimum wage with bonuses for exceeding output standards, promoting productivity.
Merrick Differential Piece Rate System: This wage payment method offers a guaranteed minimum wage, plus a bonus if workers exceed a predetermined standard output.
Example: If a factory worker is guaranteed [tex]$10 per hour but receives an additional $[/tex]2 for every unit produced above 100 units per day, that would be an implementation of the Merrick Differential Piece Rate System.
Effectiveness: This method provides a base wage while incentivizing workers to surpass standard production levels, promoting productivity.
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