If a Major League Baseball Player Would Be Willing to Work

question 167

Multiple Choice

If a major league baseball player would be willing to work for $500,000 per year and is currently being paid $1,200,000 per year, that player is earning an annual economic rent of

• A) $500,000.
• B) $1,200,000.
• C) $1,700,000.
• D) $700,000.