Explain determinants of a players marginal revenue product

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Reference no: EM133538165

Questions:

1. How might the combination of a player draft and the reserve clause create a monopsony in the labor market? Is this argument compelling?

2. Does Siegfried suggest that the reserve system will result in a "competitive balance?" Why or why not?

3. Does Siegfried argue that "balanced" teams are efficient from an economic perspective? Explain.

4. Carefully explain the determinants of a player's marginal revenue product (or VMP) for a particular team. Why are some players more valuable than others?

5. What is a monopsony labor market?

Reference no: EM133538165

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