Section 17.4 of this chapter explains that the pay of professional athletes depends on their marginal revenue
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Section 17.4 of this chapter explains that the pay of professional athletes depends on their marginal revenue product (MRP). You likely know that college football and basketball are very popular sports, so presumably some college athletes have high MRPs. Yet beyond tuition and board, college athletes are not paid. What might be an economic reason for the difference in pay between college athletes and professional athletes?
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One can either think of the NCAA as being a car...View the full answer
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