Which statement is true?
A. The National Football League, Major League Baseball, and the National Basketball Association are all monopsonies.
B. Professional baseball, basketball, and football all used to be monopsonies, but ceased to be with the emergence of free agent bargaining.
C. Professional sports are not now, nor ever were monopsonies.
D. None of these statements are true.
A. The National Football League, Major League Baseball, and the National Basketball Association are all monopsonies.
You might also like to view...
In the Classical system, the interest rate is determined by all of the following except
A) the thriftiness of the public. B) the money supply. C) the productivity of capital. D) investment.
If a firm's average total costs decreases as it increases its scale of production, the firm is experiencing
Defining what money is:
A. is easier to do in the long run than in the short run. B. is the easiest, but least important part of monetary policy. C. is easy to do, which explains why monetary policy is so effective. D. isn't easy, and this makes monetary policy more difficult.
You are in the market for a used 2013 Honda Accord. You know that half of the 2013 Accords are lemons and half are peaches. If you could be assured that the Accord you were buying was a peach, you would be willing to pay up to $10,000. On the other hand, you would only be willing to pay $2,000 for a lemon. You have no ability to discern whether any particular Accord is a lemon or a peach. Sellers of Accords, on the other hand, are likely to know whether their particular car is a lemon or a peach. Suppose sellers of lemons will sell their cars for $1,500 or more and peach sellers will be willing to sell their cars for $8,500 or more. Over time the price in the market for 2013 Accords will ________ and ________ will be traded.
A. be between $1,500 and $2,000 for lemons; only lemons B. be between $8,500 and $10,000; only peaches C. be between $1,500 and $10,000; both lemons and peaches D. be between $8,500 and $10,000 for peaches and between $1,500 and $2,000 for lemons; both lemons and peaches