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butalik [34]
3 years ago
13

One reason why the average salary of Major League Baseball players is higher than the average salary of college professors is th

e careers of most baseball players are much shorter than the careers of most college professors. college professors accept lower salaries in exchange for better working conditions. competition among baseball club owners forces player salaries to be much higher than the players' marginal revenue products. the marginal revenue product of baseball players is greater than the marginal revenue product of college professors.
Business
1 answer:
alexdok [17]3 years ago
7 0

Answer:

the marginal revenue product of baseball players is greater than the marginal revenue product of college professors.

Explanation:

Baseball players are responsible for a baseball teams' revenues, and they add up billions of dollars per year. For example, Max Scherzer sells jerseys, caps and other merchandise for millions of dollars, and his team winning the World Series this year increases the team's revenue greatly. Sometimes even without winning a championship some players still generate lots of revenue.

An individual's salary should be proportional to the revenue that they generate. Colleges have huge amounts of revenue, and college professors are responsible for a large portion of it.

The problem hear is that there are a lot of college professors and assistants, and the revenue must be split between many people. For example, Harvard University's revenue is about $5.5 billion per year, but it has over 16,000 employees (including about 2,400 professors).

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The Loss recorded in the year 2 for the table is -$35,841.39.

<h3>What is the profit or loss on the table? </h3>

<u>Year 2 </u>

Monthly Cost in year  $1564.29

Maintenance               $0  

Salary                          $39600

Fixed cost                   $0

Variable cost              <u>$356.40</u>

Total cost                   <u>$41520.69</u>

Reimbursements = $5679.30

Profit or Loss = Reimbursements - Total cost

Profit or Loss = $5679.30 - $41520.69

Loss =  -$35,841.39.

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3 0
1 year ago
Suppose that an increase in health consciousness increases the demand for fitness centers across the country. Other things being
igor_vitrenko [27]

Answer:

Increase.

Explanation:

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal.

According to the law of demand, there exist a negative relationship between the quantity of goods or services demanded and the price of goods or services i.e when the prices of goods and services in the market increases or rises: there would be a significant decline or fall in the demand for this goods and services.

This ultimately implies that, an increase in the price level of a product usually results in a decrease in the quality of real output demanded along the aggregate demand curve.

In this scenario, an increase in health consciousness increases the demand for fitness centers across the country. Other things being equal (ceteris paribus), we can expect the wages of fitness instructors to increase because their services would be sought or demanded by the trainers.

4 0
3 years ago
Sandhill Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures wer
Alla [95]

Answer:

$2,319,000

Explanation:

Amount

March1 $1,884,000

June 1 $1,284,000

Dec 31 $3,082,450

Capitalization period

March1

10/12×$1,884,000 =$1,570,000

June 1

7/12 $1,284,000=$749,000

Dec 31

0

Weighted Average Accumulated expenditure

March 1 $1,570,000

June1 $749,000

Dec 31 $0

Total $2,319,000

8 0
2 years ago
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V125BC [204]

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