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:

Double Failures

Situations or instances where two simultaneous shortcomings or losses occur.

Positivists

Positivists believe in the empirical observation and scientific approach to knowledge, emphasizing that information derived from sensory experience and interpreted through reason and logic forms the exclusive source of all authoritative truth.

Underlying Causes

The fundamental reasons or conditions that give rise to specific events, issues, or situations.

Institutionalized Means

Established procedures and methods within societies and organizations that dictate how goals should be achieved.