This topic contains a solution. Click here to go to the answer

Author Question: According to the text, what economic principle justifies the high salaries of some Professional ... (Read 81 times)

B

  • Hero Member
  • *****
  • Posts: 570
According to the text, what economic principle justifies the high salaries of some Professional athletes?
 
  What will be an ideal response?

Question 2

Besides the fact that the elderly are often on fixed incomes can you think of another reason why most local taxing authorities grant homeowners aged 65 and older school tax exemptions?
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joshbk44

  • Sr. Member
  • ****
  • Posts: 340
Answer to Question 1

Some professional athletes have a very high marginal revenue product. Profit-maximizing firms employ labor if and only if marginal revenue product is equal to or greater than market wages.

Answer to Question 2

Typically a school tax would fit under the benefits-received principle of taxation. However, the elderly are not likely to have school-age children living at home. Therefore the benefits-received principle is weakened in this case.




B

  • Member
  • Posts: 570
Reply 2 on: Jun 29, 2018
:D TYSM


parker125

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

 

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

For a complete list of videos, visit our video library