UFC - V) Submit a written summary of your arguments for the...

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UFC I) Describe the market for MMA events. Is the demand for the events elastic or inelastic? Is there monopoly power in the industry? How are events funded? Describe the UFC and its position in the MMA market. II) Make an argument that a fighters’ union would neither be beneficial or practical. III) Describe the current arrangement for fighters compensation. (You may also propose a new arrangement). Defend the arrangement and show that it is efficient, maximizes the revenues (i.e. demand) of the sport and provides the incentives that best serve the success of the sport. IV) Applicable economic concepts may include, but are not limited to: monopoly power, monopsony power, barriers to entry, elasticity of demand, opportunity cost, revealed preference, efficiency, consumer surplus.
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Unformatted text preview: V) Submit a written summary of your arguments for the nonestablishment of a union and the efficacy of the current system (or the modified system if you propose changes). 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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