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Assume that you have been hired by a company to do a salary survey of its arc welders, who the company suspects are overpaid

Economics

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Assume that you have been hired by a company to do a salary survey of its arc welders, who the company suspects are overpaid. Given the company’s expressed desire to maximize profits, what definition of overpaid would you apply in this situation, and how would you identify whether arc welders are, in fact, overpaid?

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Word count for initial discussion response - 250 words maximum.

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