Exploring Economics
8th Edition
ISBN: 9781544336329
Author: Robert L. Sexton
Publisher: SAGE Publications, Inc
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Question
Chapter 16, Problem 9P
To determine
The reason for athletes receiving higher salaries than teachers is to be determined.
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Students have asked these similar questions
What economic principle justifies the high salaries of some professional athletes? Suppose the manager of a baseball team wants to hire a new pitcher for $4 million per year. Under what circumstances would it make sense for the team to do so?
true or false? Non-monetary aspects to a job can explain why wages may differ given that two workers have the same talents, abilities, and investment in human capital.
Economists argue that most professional athletes earn economic rent because they
A - make additional income through commercial endorsements
B - able to participate in sports for only a limited number of years before changing occupations
c - earn far more as professional athletes than they could earn in their next-best occupation
why is the answer c? please explain
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Similar questions
- Explain four ways in which a firm might increase its profits by raising the wages it pays.arrow_forwardWhy do economists study sports teams when looking for evidence of labor-market discrimination? Select one: a. because all four United States professional sports leagues (football, basketball, hockey, and baseball) require discrimination studies every five years b. because the salaries paid to professional athletes exhibit the superstar phenomenon, which is highly correlated with discrimination c. because nonwhites comprise a majority of starters for many professional sports teams d. because the wide availability of performance statistics allows economists to control for individual player productivity in ways that are difficult to do for other types of firmsarrow_forwardExplain five ways in which a firm might increase its profits by raising the wages it pays?arrow_forward
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