Suppose that there are three national football leagues: Time League, Goal Difference League, and Bonus for Win League. The leagues are of equal quality, but the players are paid differently. In the Time League, they are paid by the hour for time spent practicing and time spent playing. In the Goal Difference league, they are paid an amount that depends on the points that the team scores minus the points scored against it. In the Bonus for Win League, the players are paid one wage for a loss, a higher wage for a tie, and the highest wage of all for a win.
a. Briefly describe the predicted differences in the quality of the games played by each of the leagues.
b. Which league is the most attractive to players?
c. Which league will generate the largest profits?