The Economics of Sports
6th Edition
ISBN: 9781138052161
Author: Michael A. Leeds, Peter von Allmen, Victor A. Matheson
Publisher: Routledge
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Question
Chapter 2, Problem 5P
a)
To determine
To see the effect of the quality of the play that falls, as European players are attracted to play in rival hockey leagues in their home countries.
b)
To determine
Vancouver places a C$1 tax on all tickets sold.
c)
To determine
A recession reduces the average income in Vancouver and the surrounding area.
d)
To determine
NBA puts new basketball franchise in Vancouver.
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Refer to the diagram. The equation that shows the relationship between Y and x is
OAy= 50 + 4X
OB.X = %Y.
OCy=X-50.
OD.y = 4X.
QUESTION 26
In the market for T shirts, the Milwaukee Bucks win the NBA which of the following is most likely to happen?
O A. The demand curve for Milwaukee Ducks' T shirts will shift to the left
O E. The supply curve for Milwaukee Bucks' T shiris will shift to the right
OL The supply curve for Milwaukee Bucks'T shirts will shift to the left
O D. The demand curve for Milwaukee Ducks' T shirts will shift to the right
QUESTION 27
Consider the following data for a hypothetical economy:
Year
Real GDP
Population
$5000 billion
200 million
2
$6000 billion
250 million
What is the economic growth rate for GDP per capita for this economy for year 2?
OA 20%
OB. 20%
OC 49%
O D. 4%
a. Define price elasticity of demand, and cross-price elasticity of demand.
b. If the cross-price elasticity of demand between two goods is negative (EXY<0), what can be said about the
relationship between these two goods?
c. If the Boston Red Sox know that the demand for their tickets is elastic (ED>1), should they increase or
decrease the price of their tickets in order to increase total revenue? Explain.
8. A new company starts making tennis rackets.
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