Purchase Solution

Professional Sport Players - Supply, Demand & Equilibrium

Not what you're looking for?

Ask Custom Question

Professional Sport players generally are paid much more than farmers, factory workers, engineers, and teachers.

The markets for the professional sports players, farmers, factory workers, engineers and teachers are generally competitive markets.

Even among professional sport players, the salaries for players in some sports are generally significantly higher than the salary in some other sports.

How does this make sense using supply and demand in a market in equilibrium?

Purchase this Solution

Solution Summary

The expert examines professional sport players supply, demand and equilibrium.

Solution Preview

The reason is because the supply of sports players are limited, while the supply of other fields are not.

It takes, generally speaking, 4 years of college education, and perhaps a few more years of graduate work to become an ...

Purchase this Solution

Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.