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Some firms base promotion solely on seniority. Discuss the negative and positive aspects of such a policy.Public accounting firms have traditionally paid low starting salaries

Some firms base promotion solely on seniority. Discuss the negative and positive aspects of such a policy.Public accounting firms have traditionally paid low starting salaries to new employees. Nevertheless, these firms are able to hire and retain qualified employees. Is this observation consistent with economic theory? Explain...Public accounting firms have traditionally paid low starting salaries to new employees. Nevertheless, these firms are able to hire and retain qualified employees. Is this observation consistent with economic theory? Explain

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