graph must be produced digitally

1. Using the two team competitive balance model with a small market team and a large market team, show how 13*, WP;, WPE, and payroll would be affected by a policy requir- ing the large market team to give 20% of the marginal revenue which is acquired from winning more than half of their games to the small market team. (This policy will aect marginal revenue of both teams ) 2. Using the Coase theorem (Rottenberg invariance principle) explain why do many economists believe that free ageney has not affected competitive balance? 3. Explain what externalities are. Give at least two examples of positive and negative externalities to a new downtown stadium for the Columbus Crew