Why do professional football players earn a higher wage than college professors

Q: The minimum wage originally was only 25 cents an hour. Today it is $7.25 an hour. Assume that…

A: The bare minimum of payment that an employer must pay wage workers for work done during a certain…

Q: in terms of opportunity cost, why would a UGA football player choose to enter the NFL draft rather…

A: Opportunity cost: - opportunity cost is a forgone benefit which we could have earned by applying all…

Q: Explain how the presence of a superstar basketball player can increase the marginal revenue product…

A: When dealing with consumers in the market, organizations have to decide on various aspects to…

Q: Is there an economic justification to pay the baseball player Alex Rodriguez $25 million a year? The…

A: The economic justifications for a highly paid Athlete, such as Alex Rodriguez, are the following.…

Q: What are the effects of minimum wages?

A: The objective of this question is to understand the various effects of implementing minimum wages in…

Q: Which of the following represents pay equity?     Women and men are paid the same.   People get…

A: Pay equity is a principle that stipulates that individuals should receive the same amount of…

Q: define commodity fetishism and its relation to labor. Then, pick a popular commodity and describe…

A: "Commodity fetishism" is an idea that the relationship between the commodity and the individual…

Q: What Republicans party think about Minimum wage?

A: The legal minimum compensation that a company must provide to its employees for their labor is known…

Q: Which of these is an internal factor that influences pay rates? collective bargaining the worth of a…

A: The value of the job is one of the elements that directly affects pay rates among the others. This…

Q: How can stages of production be used to determine the most profitable number of workers to hire

A: The firms, and businesses tend to work with the motive of earning higher amount of profits. The…

Q: pros and cons congressional legislation influence on the amount and price of labor

A: Minimum wages refer to the minimum amount of remuneration that an employer is required to pay wage…

Q: Recently NJ chose to increase the minimum wage, who are the winners andlosers? Why? Make sure to…

A: The minimum wage is considered the overall amount that the employer needs to pay legally to employ a…

Q: Use a labor supply and labor demand graph to show why salaries in the NBA went down during the Great…

A: In the mentioned question, there is a situation of great recession which means there is possible…