The president of the United States receives an annual salary of $400,000, while some top baseball players

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The president of the United States receives an annual salary of $400,000, while some top baseball players earn more than $30 million annually.

a. Based on marginal productivity theory, what does this say about their contributions to society?

b. What qualifications to your answer might you suggest about their relative contributions, and what do your adjustments have to say about marginal productivity theory?

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Microeconomics

ISBN: 9781260507140

11th Edition

Authors: David Colander

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