Here are too few stars to fully staff every team but there, Ask an Expert

Economics

Q. Suppose that there are 2 grades of professional football players. There are a limited number of "stars," whom the fans most want to watch also an unlimited number of "non stars." There are too few stars to fully staff every team, but there are enough for a few to be on every team if an owner decided to hire them.

a. Suppose that football teams keep the entire "gate" also TV revenues they generate also that players are free to choose their teams at the end of any season. Do stars earn more than non stars? Elucidate how are the wages of every group concluded?

b. Continue to Suppose that players are free to choose their teams, but Suppose now that teams agree to share all their gate also TV revenues equally (they put them into a "pool" also divide it equally among the team owners). Illustrate what happens now to salaries of stars also non stars?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9162651

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