what-is-the-opportunity-cost-for-an-employee-working-at-an-efficiency-wage-job-c

Question

What is the opportunity cost for an employee working at an efficiency wage job compared to a job paying the equilibrium wage?

Accepted Answer

Higher, because losing the efficiency wage job means accepting a lower-paying job.

Answer

Non-existent, as opportunity cost only applies to consumer choices.

Answer

Lower, because efficiency wage jobs are easier to find.

Answer

The same, because opportunity cost is not affected by wage differences.