Problem
The Challenge points out that if a ball club raises a player's salary, it increases its fixed cost but not its variable cost. Use a formal model (such as graphs) to show what effect such an increase has if
(a) the firm is competitive or
(b) the firm is a monopoly
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.