Asked by Taylor Casbon on May 20, 2024
Verified
"Player drafts" of professional athletes:
A) increase the competitiveness of the labor market for professional athletes.
B) reduce the profitability of professional sports franchises.
C) promote monopsony in the hire of professional athletes.
D) increase salaries of professional athletes.
Player Drafts
A process used in professional sports leagues for teams to select eligible players to join their rosters, often based on a system that aims to maintain competitive balance.
Professional Athletes
Individuals who earn a living through competing in sports where they receive payment for their performance and achievements.
- Investigate the impact of occupational licensing and union tactics on the results within the labor market.
- Analyze the effects of monopsony on earnings and the quantity of jobs.
Verified Answer
CT
Charizma TaylorMay 26, 2024
Final Answer :
C
Explanation :
Player drafts promote monopsony in the hire of professional athletes by limiting the options available to new players regarding which team they can negotiate with, effectively giving the teams more power over salary negotiations.
Learning Objectives
- Investigate the impact of occupational licensing and union tactics on the results within the labor market.
- Analyze the effects of monopsony on earnings and the quantity of jobs.