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 84 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
Excellent


JCABRERA33

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

For a complete list of videos, visit our video library