In professional golf, a tournament winner might win, say, $1 million, whereas second place wins only $600,000. Why might golf have a 40% reduction in prize money from first and second place?
A) To ensure that there is enough money to pay those who finish near last.
B) To motivate golfers to take risks they might not otherwise take.
C) To motivate golfers to not take risks they might otherwise take.
D) The Professional Golfers Association is a cartel.
B
Economics
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