Describe the market for professional baseball players

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Reference no: EM133253708

Assignment:

1. Which type of market structure best describes the market for professional baseball players in a particular city before 1970?

Democracy
Monopoly
Monopsony
Perfect Competition

2. Suppose in the market for tickets, Demand is given by Qd=100,000-100P. Suppose producers can practice 1st degree price discrimination. What will the consumer surplus be?

3. Which of the following is not an example leagues protecting monopsony power?

Draft
Salary Caps
Stadium agreements
Windows for Free Agency

Reference no: EM133253708

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