ECO 100 Week 2 DQ 1 Supply, Demand & Equilibrium
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Supply, Demand & Equilibrium Professional Sport players generally are paid much more than farmers, factory workers, engineers, and teachers. The markets for the professional sports players, farmers, factory workers, engineers and teachers are generally competitive markets. Even among professional sport players, the salaries for players in some sports are generally significantly higher than the salary in some other sports. How does this make sense using supply and demand in a market in equilibrium? Fully explain your reasoning in at least 200 words. Respond to at least two of your fellow students' postings.