Solved: Management is responsible for setting specific rates of pay, Microeconomics

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Management is responsible for setting specific rates of pay

Management is responsible for setting specific rates of pay for each job in the firm. In performing this function,how much discretion does management have in terms of the rates it sets? To what extent do outside market forces impinge on this decision? For what types of jobs would market forces leave little or much room for discretion? Why?

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