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Supply, Demand & Equilibrium
Professional Sport players generally are paid much
more than farmers, factory workers, engineers, and teachers. The markets for
the professional sports players, farmers, factory workers, engineers and
teachers are generally competitive markets. Even among professional sport
players, the salaries for players in some sports are generally significantly
higher than the salary in some other sports. How does this make sense using
supply and demand in a market in equilibrium? Fully explain your reasoning in
at least 200 words. Respond to at least two of your fellow students'
postings.
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