Professional football players receive, on average, higher wages than professional soccer players in the United States because
A) football is a more dangerous sport.
B) professional football teams can draw huge crowds and charge high prices for tickets.
C) professional football teams use a draft system.
D) the soccer season is longer and so players will be unemployed for a smaller portion of the year.
B
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Producers are willing to offer greater quantities for sale at higher prices because
a. they have the incentive to pay the increasing opportunity cost of resources necessary to attract them from alternative uses b. they will decrease their profits by expanding production at higher prices c. the government orders them to do so d. lower prices attract new firms, which have higher costs of production e. they hire superior quality, higher-priced resources as production expands
If there are external benefits associated with the consumption of a good or service:
A. The private demand curve will overestimate the true demand curve B. The private demand curve will underestimate the true demand curve C. Consumers will be willing to pay for all these benefits in private markets D. The market demand curve will be the vertical summation of the individual demand costs