Assignment:
Question 1 What is the quantity of games that will be broadcast at the competitive equilibrium?
Question 2 How much will the Premier League receive for each broadcast game at the competitive equilibrium?
Question 3 What is consumer surplus at the competitive equilibrium?
Question 4 What is producer surplus at the competitive equilibrium?
Question 5 What is the economic profit that the Premier League earns at the competitive equilibrium?
Question 6 What is the quantity of games that will be broadcast if the Premier League can act as a monopoly when negotiating its TV deal?
Question 7 How much will the Premier League receive for each broadcast game if the Premier League can act as a monopoly when negotiating its TV deal?
Question 8 What is consumer surplus if the Premier League can act as a monopoly when negotiating its TV deal?
Question 9 What is producer surplus if the Premier League can act as a monopoly when negotiating its TV deal?
Question 10 What is the economic profit that the Premier League earns if it can act as a monopoly when negotiating its TV deal?
Question 11 What is the deadweight loss to society if the Premier League can act as a monopoly when negotiating its TV deal?
Use the following information for the following 5 questions.
Assume that there are three types of teams in Major League Baseball: large market, medium market and small market. Each of these types has ten teams for a total of 30 teams. The demand function for each type of team is:
D : Q = 110 - 2P
D : Q = 80 - 2P
D : Q = 70 - 2P
Assume the marginal cost of a national advertisement is $610.
Question 12 What is the price Major League Baseball will pay for each advertisement?
Question 13 What is the number of advertisements Major League Baseball will buy as a league?
Question 14 How much will each large market team pay for its share of the advertising budget?
Question 15 How much will each medium-market team pay for its share of the advertising budget?
Question 16 How much will each small-market team pay for its share of the advertising budget?
Use the following information for the next 10 questions.
Assume that Charcandrick West signs a new contract with the Kansas City Chiefs (NFL team) that covers 2017 - 2023. The terms of the contract are:
2017 salary: $2 million
2018 salary: $6 million
2019 salary: $7 million
2020 - 2023 salary: $9 million
Signing Bonus: $10 million
Option Bonus (paid in 2018): $10 million
The salary for 2017 - 2020 is guaranteed.
Question 17 What is the salary cap amount for 2017?
Question 18 What is the salary cap amount for 2018?
Question 19 What is the salary cap amount for 2019?
Question 20 What is the salary cap amount for 2020?
Question 21 What is the salary cap amount for 2021?
Question 22 What is the salary cap amount for 2022?
Question 23 What is the salary cap amount for 2023?
Question 24 Assume the Chiefs cut Charcandrick West in the offseason between 2019 and 2020 (pre-June 1 cut). What is the amount that will count against the salary cap for the Chiefs for 2020?
Question 25 Assume the Chiefs cut Charcandrick West in the offseason between 2021 and 2022 (pre-June 1 cut). What is the amount that will count against the salary cap for the Chiefs for 2022?
Question 26 Assume the Chiefs cut Charcandrick West in the offseason between 2022 and 2023 (pre-June 1 cut). What is the amount that will count against the salary cap for the Chiefs for 2023?
Question 27 Using the old draft pick point system (Jimmy Johnson) which of the following would be a reasonable price to pay to move up from the 18th to the 10th pick in first round of the NFL draft?
- 18th pick of 2nd round (50th overall pick)
- 22nd pick of the 3rd round (96th pick overall)
- No answer text provided.
- 2nd pick of second round (34th overall) plus the 32nd pick of 2nd round (64th overall pick) and
Question 28 Using the career performance value chart from Kevin Meers, which of the following would be the most reasonable price to pay to move up from the 18th to the 10th pick in first round of the NFL draft?
- 18th pick of 6th round (178th pick overall)
- 1st pick of 5th round (129th pick overall)
- 10th pick of 2nd round (42nd pick overall)
- 4th pick of 3rd round (68th pick overall)