question archive Are major-league clubs profit-maximizing monopolies? Some observers of this market have contended that baseball club owners want to maximize attendance or revenue
Are major-league clubs profit-maximizing monopolies? Some observers of this market have contended that baseball club owners want to maximize attendance or revenue
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Are major-league clubs profit-maximizing monopolies? Some observers of this market have contended that baseball club owners want to maximize attendance or revenue. Alexander (2001) says that one test of whether a firm is a profit-maximizing monopoly is to check whether the firm is operating in the elastic portion of its demand curve (which he finds is true).
a. Why is that relevant test?
b. What would the elastic be if baseball clubs were maximizing revenue?
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