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In labor economics, they refer to that slightly higher price (compared to the minimum clearing price) as an "efficiency wage" - it describes the same thing you describe above. Only note that this is a profit maximizing behavior - as companies pay out efficiency wages to avoid turnover costs or an unproductive workforce.

https://en.wikipedia.org/wiki/Efficiency_wage

https://www.investopedia.com/efficiency-wages-5206757#:~:tex....




I had never heard this term before so thanks for sharing!




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