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3 Competitive Balance: Policies Suppose we have two markets in Major League Baseball, Los Angeles (Dodgers) and Oakland (Athletics). In LA, the demand for wins

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3 Competitive Balance: Policies Suppose we have two markets in Major League Baseball, Los Angeles (Dodgers) and Oakland (Athletics). In LA, the demand for wins is: P(w.) = 150 -- 25 and in Oakland, it is: P(wy) = 130 - 250 Round all answers to two decimal places. 3. Salary Cap: suppose there is a salary cap of MC = CAP. (a) What should the CAP be to get to w= 2.5? (b) What is the equilibrium win percentage for the Dodgers(wi)? (c) What is payroll for the Dodgers? (d) What is payroll for the Athletics? (e) What is profit (surplus) for the Dodgers? (f) What is profit (surplus) for the Athletics? 3 Competitive Balance: Policies Suppose we have two markets in Major League Baseball, Los Angeles (Dodgers) and Oakland (Athletics). In LA, the demand for wins is: P(w.) = 150 -- 25 and in Oakland, it is: P(wy) = 130 - 250 Round all answers to two decimal places. 3. Salary Cap: suppose there is a salary cap of MC = CAP. (a) What should the CAP be to get to w= 2.5? (b) What is the equilibrium win percentage for the Dodgers(wi)? (c) What is payroll for the Dodgers? (d) What is payroll for the Athletics? (e) What is profit (surplus) for the Dodgers? (f) What is profit (surplus) for the Athletics

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