Scenario 1b The following diagram shows the demand, supply and marginal expenditure curves for a monopsony league buyer of baseball players. Wage and quantity of players are measured in $000s and 000s of players respectively. Refer to Scenario 1b. If players were paid a competitive wage, what would that be? Pick the closest value from the graph. Wage in 000s 47 22 7 8 9 10 11 MFC S 5 3 27 D 24 6 8 10 12 13 14 15 16 17 18 19 Qty of Players in 000s

Closing Case China's mixed economy

In which type of culture do businesses and people make and spend money?         economic culture         business culture         mixed culture         geographic culture

Transition from Communism to Capitalism