Suppose that players and owners face the following situation entering a negotiation: U = 300 L = 400 X = 1,200 a. If the parties agree to a 50-50 split of the residual returns above U L, what are the returns to the union and the league? What is the rationale behind them splitting the return above U L as opposed to a 50-50 split of X? b. Suppose that diminished popularity of the sport causes X to fall to 800. How will this affect the returns to the union and the league? c. Using the original numbers, suppose that players successfully convince fans that the owners are exploiting them such that the value of league's next- best alternative falls to 200. How will this affect the returns to the union and the league? d. Using the original numbers, suppose that the relative bargaining strength of owners changes the split of residuals to 60-40 (60% to players, 40% to owners). How will this affect the returns to the union and the league