QUESTION 3 Study the information provided below and answer all questions that follow. Economic theory suggests that workers pay is mainly determined by their marginal product and that industry wage differentials may result either from the structure of the industry or human capital characteristics of the employed labour force (Davis, 2012 Du Caju, 2010). However, recent findings appear to suggest that institutional characteristics, worker ability, and job design characteristics together explain a significant portion of wage premium across industries (McCausland, Summerfield & Theodossiou, 2020). A labour analyst has hypothesized that as an industry reaches maturity, employee remuneration tends to converge across firms in that industry. Suspecting that the South African Telecommunications sector is a mature industry, the analyst wants to determine whether employee remuneration is converging across the sector. Using recent data on current remuneration packages of individuals who were interviewed for similar middle management level jobs at the six JSE-listed South African telecommunications companies (Table 3.1), the output in Figure 3.1 to Figure 3.3 was generated from the data analysis.