6. I n the two-college talent-recruiting game, the NCAA enforces a. the cooperat

Question

6. I n the two-college talent-recruiting game, the NCAA enforces a. the cooperative outcome: recruiting dominance by one or the b. the cooperative outcome: low-cost recruiting by both schools C. the competitive outcome: recruiting dominance by one or d. the competitive outcome: high-cost recruiting by both schools other school the other school 7. A sports franchise that engages in inelastic ticket pricing a. must be perfectly competitive b. sets price where marginal revenue 0 8. Suppose a fan pays $60 for a ticket to a baseball game. If this fan personally earns a consumer surplus of $10, what ticket price would he have been willing to pay? a. $60 b. $50 c. $70 d. $10 Which of the following is consistent with a dominant income effect? a. a professional sports referee is paid a higher salary and elects to work fewer games per 9. b. a pro athlete experiences a salary reduction and elects to attend fewer training and c. a pro athlete is paid a higher salary and elects to attend more training and practice d. all of the above season practice sessions sessions 10. Inclusive unions a. originated as local guilds of skilled workers in medieval times b. systematically restrict supply in labor markets c. are also known as craft unions d. use collective bargaining to negotiate an above-equilibrium wage The concept of rational ignorance imagines that a. people's information acquisition generates a 100% rate of voter registration and turnout b. people collect all information that can be obtained about all issues c. people collect information about the issues they care most about d. voters can obtain information without cost 11.

Explanation / Answer

7)d) sets price where marginal revenue is > 0

The above option is fit because if marginal revenue is greater than 0, the sports franchaise can go for inelastic ticket pricing which would mean there are no other alternative (i.e. substitute) available to get the tickets from.Otherwise the franchaise would incur loss.

9)d) all of the above

The option "d" is suitable because the purchasing power or the spending of a person depends totally on the income of the individual.

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