Problem
The handbook chapter on competitive balance discusses a two team model for competitive balance in a sports league. Set up the two team, fixed talent model with two teams (one small market, one large) and label on your graph the winning percentage for each team, marginal revenue, average revenue, price of talent, and payrolls. (Label all curves and axes.) Define any abbreviations.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.