Purchase Solution

Explaination of the increase in salaries

Not what you're looking for?

Ask Custom Question

In recent years, the scores in baseball have steadily increased. Most experts believe this is due to the expansion of new teams into the league. It is their belief, that the increase in the number of teams has left teams unable to fill their roster with high-quality pitchers. Thus they fill out their roster with low-quality pitchers, which leads to higher scores. At the same time, their salaries of players have raised enormously, in particular the salaries of high-quality pitchers.

Question: Can you use economics, in the context of this story, to explain the increase in salaries?

Is this correct: The higher salary is due to supply and demand. Teams want high-quality players but there is a shortage of them so the teams must pay more salary to attract the high-quality players.

Purchase this Solution
Solution Summary

This provides explanation of the increase in salaries.

Solution Preview

Yes this is true in every sport and in real life also. Price is determined by ...

Purchase this Solution
Free BrainMass Quizzes
Elementary Microeconomics

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

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Basics of Economics

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

Economics, Basic Concepts, Demand-Supply-Equilibrium

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

Economic Issues and Concepts

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

View More Free Quizzes
Related BrainMass Solutions

  • Savings and Loan - very brief explaination

    71735 Savings & Loan - very brief explaination Can you give me a brief explaination of what happened with the big S&L crash in the 1980's (in the U.S.)?

  • Fixed versus Base Wages Plus Commission Effects on Sales

    The amount of service they have to supply the customer after the sale can be different also. An explaination of why the change from a system of fixed wages to one of base wage plus commission can lead to an increase in sales revenue is given.

  • Access the array 4 Java program

    Post to the Answer Forum an explaination of each of the lines of code (1..4), that is, what the code does syntactically and what it does in the program. Here is the explaination of the lines. I also included it in the attached file array4.java.

  • Explaination for derivatives

    All problems are in the solution file Solution is in the attached file An explanation for derivatives as they relate to exponential and logarithmic functions are determined.

  • Data Presentation

    16983 3755- data presentation Subject: How do I present an explaination of this data Details: I am suppose to present a half page Explaination of the data collected, by using statistical expressions. Survey for Statistics: 1.

  • C Programming





    Please read the explaination ota1.doc which explains how to

    create the program step by step.

    The attached file file.c is working code for the explaination.

    Feel free to download, compile and run it.

  • Solve by substitution

    This solution is comprised of a detailed explanation to solve by substitution.

  • Fullhealth and Annual Operating Budget

    In the operating budget, the project profit is also calculated. The calculation of budgeted revenue is made using 2007's revenue. Corporation expects that the revenue of the company will increase in 2008.

  • Understanding a regression hypothesis test

    The value of R2 for both males and females is given to be 0.857. This indicates that the regression equations given for both males and females explains 85.7% of variation in salaries by unit increase in "Education Level (X)".

View More Related Solutions