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- 11 Avg. Val. 5 + T Marg. Val. Number 1 CIS C4 of teams O N 0.25 The figure above represents a sports league.

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- 11 Avg. Val. 5 + T Marg. Val. Number 1 CIS C4 of teams O N 0.25 The figure above represents a sports league. "Number of teams" is increasing from left to right. "Average market size" is increasing from right to left. The league's teams share revenue. Suppose the league currently has C3 teams. If society chooses the socially optimal league size, what will happen to the league? It will expand to C4 teams. It will contract to C1 teams. It will contract to C2 teams. It will remain at C3 teams

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