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Professional franchises in American sports once changed hands for several thousand dollars.Several franchises are now valued well in excess of one billion dollars, with the
Professional franchises in American sports once changed hands for several thousand dollars.Several franchises are now valued well in excess of one billion dollars, with the Dodgers of Major League Baseball recently selling for $2 billion.What accounts for the tremendous growth in the value of American professional sports franchises over the past century?Discuss in terms of classic supply and demand factors.
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