The wage level decision is a management policy decision about whether a firm wants to pay above, at, or below the going rate for labor in the industry or the geographic area.
The labor market is in equilibrium when supply equals demand. This means that workers are employed at a certain wage rate.
In equilibrium, all persons who are looking for work at the going wage can find a job. Here, firms decide whether or not to pay wage above certain rate.
Hence, the wage level decision is a management policy decision about whether a firm wants to pay above, at, or below the going rate for labor in the industry or the geographic area.
Learn more about labor market equilibrium here : https://brainly.com/question/26281019
