Question

Why are major league baseball players on average paid substantially more than college​ professors? Explain. Major league baseball players are paid more than college professors because A. the supply of major league baseball players is more elastic than the supply of college professors. B. the marginal revenue product of major league baseball players is high relative to college professors. C. the supply of major league baseball players is abundant relative to the supply of college professors. D. the total value of baseball games is greater than the total value of education. E. the marginal product of major league baseball players is low relative to college professors.

Answer 1

Answer:

B. the marginal revenue product of major league baseball players is high relative to college professors.

Explanation:

For becoming a college professor involves more amount of efforts and dedication than the baseball players.

Also under the baseball matches there are numerous sponsors as looking for advertisement and promotions, as huge public is interested in such matches.

Therefore as large funds are invested and that the players earn accordingly more, as tickets are also charged.

The marginal revenue from baseball is therefore more, as the cost is less as compare to the cost in becoming professor.

Answer 2

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