If they could hire someone if they paid 1 million dollars, it means that the market rate is somewhere between what they are offering and 1 million dollars. Reme

If they could hire someone if they paid 1 million dollars, it means that the market rate is somewhere between what they are offering and 1 million dollars. Remember "market rate" means what you could actually purchase something in the market for. If we set aside the possibility of greed on the part of employers, it may mean that they cannot afford to pay market rates i.e. their business model isn't compatible with paying the market rate for the labor they need.