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Recall the Application about the salaries paid in Major League Baseball to answer the following question(s). Some Major League Baseball players are free agents, meaning they are free to negotiate a contract with any team. Other players are journeymen and apprentices, who are restricted to a single team.


Recall the Application. On average, free agents in Major League Baseball tend to be paid a salary ________ their marginal revenue product.

▸ significantly lower than

▸ close to

▸ unrelated to

▸ significantly higher than
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Microeconomics: Principles, Applications, and Tools


Edition: 8th
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