This problem requires you to calculate the marginal revenue products for San Diego Padres baseball players using the two step-estimation process

Step 1estimates a team WINS production function as determined by productivity (input) measures: Hits (H), Home Runs (HR), Offensive Walks (BB), Offensive Strike Outs (SO) as given in Table 1.

Table 1 Variable Marginal Product of Wins $ Value in Revenue Hits 0.0156 $124,936.07 Home Runs 0.0900 $1,174,376.62 Offensive Walks 0.0302 $148,372.19 Offensive Strikeout -0.034 -$54,348.55 Step 2 estimates a revenue function, another WIN is worth $1.6 million (marginal revenue) for the team: Team Revenue = (1.6)(WINS) 1. Table 2 shows five players -- Fernando Tatis, Manny Machado, Will Meyers, Trent Grisham, Greg Garcia. For each player, in column (a) write the number of Hits (H), Home Runs (HR), Offensive walks (BB), offensive strike outs (SO), and years in MLB for the players 2020 MLB season, which can be found at Click a player name for individual stats and years played. Next, in column (b) find the MR a player generates for the given marginal productivityes (in Table 1) for each productivity measure (H, HR, BB, SO).Finally, determine marginal revenue product (MRP) of each player (i.e., the sum of his MR generated for each of the productivity measure, in column b). 2. The last row has player 2020 salaries. Calculate the rents (net profits) each player generated for the Padres. 3. Explain the relation between number of years played and rents a player generates.Table 2 (complete the variable/statistics and Marginal Revenue for each variable for each player) Variables Fernando Tatis Manny Will Meyers Trent Grisham Greg Garcia Machado (a) (b) $ (a) (b) $ (a) (b) $ (a) (b) $ (a) (b) $ Value Value Value Value Value Revenue Revenue Revenue Revenue Revenue Hits Home Runs Offensive Walks Offensive Strikeouts MRP Years in MLB 2020 Salary $1 million $30 million $20 million $575,000 $1 million