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46. When A Professional Sports League Sells Broadcast Rights For The Entire League, A. The Selling Price Will Be Higher Than The Price That Would Be Charged If Each Team Individually Sold Broadcast RightsB. Fewer Games Will Be Broadcast Than Would Be If Each Team Individually Sold Broadcast RightsC. Joint Profits Among All Teams In The League Can Be MaximizedD. (A) And (B)E. All Of The Above47. For A Cartel, The 48. A Monopsony Exists Whenever There 49. In The Resource Market, Professional Sports Clubs Must Face The
50. A Profit Maximizing Sports Club Will Hire Players Up To The Point Where The A. Demand Of Labor Equals Marginal Revenue Product Of LaborB. Supply Of Labor Equals The Marginal Cost Of LaborC. Marginal Revenue Product Of Labor Equals The Marginal Cost Of LaborD. Marginal Cost Of Labor Equals The Wage RateE. Wage Equals The Quantity Of Labor Available51. In A Monopsony, The Difference Between The Marginal Revenue Product Of Labor And The Wage Rate Is Known As A. Joint ProfitB. Monopsonistic ProfitC. Monopsonistic CostD. Cartel ProfitE. Competitive Returns52. The Additional Revenue That A Player Generates For His Employing Team Is Called A. Total Player RevenueB. Marginal Revenue ProductC. Marginal ProductD. Marginal RevenueE. Monopsonistic Revenue Product53. Over The Past Twenty Years, Free Agency In Professional Sports Has A. Increased The Monopsonistic Power Of Leagues And Caused Salaries To StagnateB. Reduced The Bargaining Power Of Players And Raised Owner ProfitsC. Reduced The Monopsonistic Power Of Leagues And Caused Salaries To RiseD. Improved The Economic Position Of Owners By Increasing The Competition For Good PlayersE. Had Little Effect On The Sports Industry