a. Suppose that a famous Chicago Cubs baseball player threatens to quit unless his salary is doubled,
Question:
True or False: The fans will have to pay for this through higher ticket prices.
b. Now suppose that the Cubs hire a famous and popular player away from the Philadelphia Phillies. Explain what will happen to ticket prices now.
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a False The salary increase does not affect the marginal cost of providing seats at the ballpark nor ...View the full answer
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