Chapter 5 example and Q's

Chapter 5 example and Q's - go to the game the prices are...

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Collin Baldwin Pat Kravitz Katie Massey 9/22/11 Econ 318 1. The Supporting Subsector V: Sports Management Firms (Athletics Representation) Collusion . When an athlete enters free agency, there is usually a jointly decided price already designated for athletes with certain levels of talent. Teams and agents usually follow these prices. 2. The Supporting Subsector II: Sporting Good Manufactures – Barometric Price Leadership . With this model prices may increase in the hope the other firms in the market will follow. When fans want to buy a jersey from the arena when they
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Unformatted text preview: go to the game, the prices are always higher then they would be at another sporting goods manufactures. 3. The Supporting Subsector IV: Sports Media (Cable Networks)- Cartels . When a team such as Ohio State plays football games it can be seen on both the Big Ten Network and Espn if they are covering the game as well. These two cable networks can compete to cover the same game. Discussion Question Q: Describe how Collusion works and how it’s different from the other models of oligopoly?...
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