Final answer:
The Merrick Differential Piece Rate System provides a guaranteed minimum wage with bonuses for exceeding output standards, promoting productivity.
Explanation:
Merrick Differential Piece Rate System: This wage payment method offers a guaranteed minimum wage, plus a bonus if workers exceed a predetermined standard output.
Example: If a factory worker is guaranteed [tex]$10 per hour but receives an additional $[/tex]2 for every unit produced above 100 units per day, that would be an implementation of the Merrick Differential Piece Rate System.
Effectiveness: This method provides a base wage while incentivizing workers to surpass standard production levels, promoting productivity.
Learn more about Piece Rate Systems here:
https://brainly.com/question/43260052
