MMA fighters - efficiency, marginal revenue product,...

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Mixed Martial Arts Fighters I) Describe the current labor market for MMA fighters. Describe the labor supply. Is it elastic or inelastic. Where do the fighters come from? II) Make a case for the establishment of a union for fighters. Demonstrate why a union is necessary, efficient and would advance the success of the sport. II) Outline your proposals for the collective bargaining agreement. Explain how your proposals will affect wages, profits and the competitive balance of the sport. Some of the areas your proposals will need to address include: How revenues are to be shared between fighters and promoters; Benefits, if any, and compensation of the fighters; Pay structure and how this promotes the popularity of the sport; Any age restrictions or other restrictions on fighters. III) Your arguments should incorporate the following economic concepts:
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Unformatted text preview: efficiency, marginal revenue product, monopoly power, monopsony power, as well as any other concepts which will strengthen your presentation. III) Submit a written summary of your argument for the establishment of a union. A well-written agreement will be convincing and based on the economic concepts we have covered. Weak arguments with no economic applications will be graded accordingly. V) You will have approximately 15 minutes to present your arguments to the class. You need not present all your topics, only those arguments which are the most important and for which your arguments are the most convincing. Fifty percent of the final grade for the project is based on the presentation and 50% is based on the written report....
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