markets, labor supply, labor demand and wages, among other items. There are tremendous differences in remuneration. Baseball players get paid millions of dollars to perform their expected on-field and off-field duties, maintain their physical condition, support their clubs and so on (http://www.spotrac.com/mlb/new-york-yankees/). In comparison, the median pay for teachers in NYS is only about $80k (http://www.syracuse.com/news/index.ssf/2015/02/nys_teacher_salaries_by_district_county_region_look_up_compare_any_district.html). If the average NYC public school teacher teaches 35 students per class per year x 6-8 classes per year and does that for 10 years, he/she has touched the lives of thousands of young people helping to develop their intellect. Although NYC public school teachers are paid approximately double the median wage for the nation, it still does not seem like much in comparison to professional athletes. From this unit's chapter, what's one factor that explains the disparity between NYC teacher pay and the Yankees payroll?