Explain why baseball ticket prices may increase when a team pays a new player a large salary, but will remain unchanged when a current player gets a salary increase

What will be an ideal response?

The salary increase of a current player increases total but not marginal cost. The ticket price will remain unchanged. A new player may shift out the demand curve for tickets and result in higher ticket prices.

Economics

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Describe how the euro was created. What are the benefits of the monetary union? What are the costs?

What will be an ideal response?

Economics

The U.S. Postal Service engages in price discrimination

a. True b. False Indicate whether the statement is true or false

Economics