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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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Debt
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3 years ago
Which of the following statements is false? A. Healing is one characteristic of a servant leader. B. Servant leaders place the g
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D is the correct answer.

Servant leaders can't lead if subordinates are not open to being guided.

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6 0
3 years ago
Assume an economy is currently engaged in free trade but considering implementing a tariff on its main import, athletic shoes. W
UNO [17]

Answer:

Price - increase

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Import- reduces

Producer surplus- increase

Explanation:

A tariff is a form of tax on import or export.

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7 0
3 years ago
A professional basketball players' union negotiates a contract that dramatically increases all players' salaries. How would this
Misha Larkins [42]

Answer:

B) It would increase the opportunity cost of becoming a broadcaster.

Explanation:

Opportunity costs are defined as the cost of choosing one alternative activity or investment over another.

The basketball player has two options, he can continue to play for an NBA team with a much better salary, or he can decide to become a broadcaster. If the player decides to quit basketball, then he will lose more money due to pay raise. That amount of money that he will lose if he decides to become a broadcaster is the opportunity cost of becoming a broadcaster. Since the pay increase raised the player's salary, the opportunity cost of becoming a broadcaster also increases.

4 0
3 years ago
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