Explain what the invariance principle is within the sports labor market? What does this mean about the measures leagues put into place to promote competitive balance, like the reverse order draft?

Present an example of a prisoner’s dilemma in your own life. Describe the “cooperative” action for each player that involves trusting the other in some sense. Explain why mutual cooperation will lead to an outcome that is preferred to mutual defection. Describe why there is an incentive for each to defect, or not cooperate, or not be trustworthy. Discuss what might be done to promote mutual cooperation, or what is done.

Economics That is, the aggregate supply of hockey players is given by w = 20 + 2L As demonstrated in the solutions, the aggregate demand for hockey players by the six hockey teams is given by w = We already solved for the perfectly competitive outcome and the monopsony outcome. Now, we'll consider the effects of a player's union. 1. First, assume that the players form a union, but the six teams are in competition. a) What is the equilibrium number of hockey players? What is the equilibrium wage? b) Team surplus? Player surplus? 2. Now, assume that the teams also form a league, so we have a bilateral monopoly. The league can easily coordinating the efforts of the six team owners, and thus the league has more negotiating power. In particular, the union's bargaining power is only B = 15. a) What is the equilibrium number of hockey players? b) What is the wage that gives players all the surplus? c) What is the wage that gives teams all the surplus? d) What is the negotiated equilibrium…

In your opinion, is it better to focus on assessing and developing employees' weaknesses or to focus on their strengths? Why?

Topic B Problem: Imagine you have two competing athletes who have the option to use an illegal and/or dangerous drug to enhance their performance (i.e., dope). If neither athlete dopes, then neither gains an advantage. If only one dopes, then that athlete gains a massive advantage over their competitor, reduced by the medical and legal risks of doping. However, if both athletes dope, the advantages cancel out, and only the risks remain, putting them both in a worse position than if neither had been doping. What class concept best describes this situation? Using this class concept, what outcome do we expect from these two athletes? Are there any factors that could change the outcome predicted by this course concept?

Question 1 of1 The number of people who want to be professional athletes greatly outnumbers the amount of positions available. Does this represent a surplus in the labor market for professional athletes? +100 9:41 PM 36°F 12/3/2021 近

Which of these is an internal factor that influences pay rates? collective bargaining the worth of a job labor market conditions cost of living

Explain how the number of bidders in a common value auction affects the outcome of the auction. Relate this to the effect on price in different market structures based on the number of producers.

Problem 3: Labor Contracts. Suppose that Lionel Messi is negotiating a contract with FC Barcelona. Messi has an offer from Real Madrid for $20 million a year. If he signs with FC Barcelona, they will earn $90 million in revenue from the signing. FC Barcelona's next best option is to sign Cristiano Ronaldo. They would earn $70 million from signing Ronaldo and would pay him a contract of $10 million. Messi's bargaining power is w = a) What is the negotiated salary between Messi and FC Barcelona under Nash Bargain- ing? What is Messi's surplus and what is FC Barcelona's surplus? b) Due to an injury, FC Barcelona would only earn $50 million from signing Ronaldo but everything else remains the same. What is the negotiated salary between Messi and FC Barcelona under Nash Bargaining? What is Messi's surplus and what is FC Barcelona's surplus?

Solomon Asch’s experiment demonstrates the positive consequences of group pressure. T or F?