Which of the Following Explains Why Talented Major League Baseball

question 188

Multiple Choice

Which of the following explains why talented major league baseball players command much higher salaries than neurosurgeons?

• A)because the total value of baseball games is much higher than the total value of neurosurgery
• B)because it takes far more skill and training to be a major league baseball player than to be a neurosurgeon
• C)because the supply of talented major league baseball players is relatively low compared to the supply of neurosurgeons. Therefore, major league baseball players exert far more market power than neurosurgeons.
• D)because the supply of talented major league baseball players is low relative to its demand compared to the supply of neurosurgeons. Therefore, adding another player yields far greater marginal benefit than adding another neurosurgeon.

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Definitions:

Deinstitutionalisation

The process of replacing long-stay psychiatric hospitals with less isolated community mental health services for those diagnosed with a mental disorder or developmental disability.

Tranquillisers

Medications used to reduce tension or anxiety, often affecting the central nervous system to induce calmness.

Antianxiety Drugs

Medications used to treat anxiety disorders by reducing symptoms of anxiety.

Antipsychotic Drugs

Medications designed to treat symptoms of psychosis, including hallucinations, delusions, and disturbed thoughts, commonly used in schizophrenia and bipolar disorder.