multiple choice question\nhow do labor and product markets affect companies pay level decisions?\nthey…

multiple choice question\nhow do labor and product markets affect companies pay level decisions?\nthey identify the exact amount that each employee must be paid.\nthey encourage companies to pay below the market rate for competitive advantage.\nthey provide a range in which the company can determine pay.\nthey force companies to increase wages as profits rise.

multiple choice question\nhow do labor and product markets affect companies pay level decisions?\nthey identify the exact amount that each employee must be paid.\nthey encourage companies to pay below the market rate for competitive advantage.\nthey provide a range in which the company can determine pay.\nthey force companies to increase wages as profits rise.

Answer

Brief Explanations:

Labor and product markets don't set exact pay - they give a range. Companies consider market rates in these markets to determine competitive pay levels. They don't force wage increases as profits rise or encourage below - market pay for advantage.

Answer:

They provide a range in which the company can determine pay.