Go to the website basket-ball reference and find the statistics and salary of your favorite NBA player. Use the equation below for additional wins and assume the value of each additional win is $1.67 million to determine what he is worth to the team (compute the Marginal Revenue Product). Compare the estimated MRP figure with his actual salary to determine whether he is under- or over-paid.[Changeinwins = points + totalrebounds + steals + 0.5 ∗ (blockedshots + assists) − f ieldgoalattempts − turnovers − 0.5 ∗ (f reethrows + personalf ouls)] These should all be per game stats.

2.A friend is arguing that the fact that Ryan Day gets paid more than any other employee at OSU displays that people have "backwards" preferences. Use a supply and demand graph to show your friend that high salaries could be explained by supply and not de- mand. Use the term elasticity in your explanation.

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