![]() While the wage rates tend to be significantly higher for athletes than for factory workers, the underlying process is much the same.Ī Bilateral Lumber Monopoly Bilateral Lumber MonopolyĪ hypothetical bilateral monopoly labor market is presented in this exhibit. Players in each league are also represented by a players union, including the National Football League Players Association, Major League Baseball Players Association, and National Basketball Players Association. The National Football League, Major League Baseball, and National Basketball Association come very close to being monopsony buyers of athlete labor services.
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