Efficiency wages are___the level firms would have to pay to fill all their open positions. a) higher than b) lower than c) equal to d) none of the above Firms that pay efficiency wages are attempting to minimize a) transactions costs. b) monitoring costs. c) adverse selection problems. d) agency problems. Firms that pay efficiency wages are attempting to minimize. a) agency costs. b) moral hazard problems. c) asymmetric information. d) all of the above. Deductibles on car insurance are solutions to the___problem for insurers. a) adverse selection b) moral hazard c) free-rider d) all of the above