The arrival of Michael Jordan, Larry Bird, and Magic Johnson in the 1980s increased the popularity of pro basketball. This led to
a. an increase in the equilibrium quantity of professional basketball
b. a decrease in the equilibrium quantity of professional basketball
c. a decrease in the price of professional basketball tickets
d. a decrease in pro basketball players' salaries
e. an increase in the price of professional basketball tickets but no change in game attendance
A
You might also like to view...
A dividend is
a. a payment to the corporation's bondholders b. the same as the profit of the corporation c. a payment of a portion of the corporation's profits to the shareholders d. guaranteed if one has common stock e. the payment to each partner in a partnership form of business
Which of the following situations will tend to feature economic rents that are much higher than the resource's opportunity cost?
a. Unskilled day labor on a construction site b. Generic lumber used in the construction of a commercial building. c. Wheat grown by one of the thousands of wheat farmers in the U.S. and bought by Kellogg to produce breakfast cereal d. An otherwise unemployable software engineer possessing unique knowledge required to resolve a particular company's latest software bug.