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28 Mar 2019
The president of the United States receives an annual salary of $400,000. Derek Jeter, the shortstop for the New York Yankees, receives an annual salary of $23.2 million. If the president of the United States actually contributes more to society than Derek Jeter, we can conclude that:
a. actors other than marginal revenue product probably explain the salary differences.
b. the salary differences are based entirely on marginal revenue products.
c. there is never a relationship between marginal revenue product and pay.
d. the markets for their respective services are perfectly competitive.
The president of the United States receives an annual salary of $400,000. Derek Jeter, the shortstop for the New York Yankees, receives an annual salary of $23.2 million. If the president of the United States actually contributes more to society than Derek Jeter, we can conclude that:
a. actors other than marginal revenue product probably explain the salary differences.
b. the salary differences are based entirely on marginal revenue products.
c. there is never a relationship between marginal revenue product and pay.
d. the markets for their respective services are perfectly competitive.
2 Jun 2021
