How much of jordans million earnings was economic rent

Reference no: EM13245296

Consider your current or former salary against the salary of pro sports players and movie stars. Michael Jordan made $40 million per year playing basketball and endorsing products in his day.

1. Why do you think superstars like Michael Jordan earn so much more than we do?

2. Is this an economically efficient market solution? Explain.

3. How much of Jordan's $40 million earnings was economic rent? Are you or have you earned economic rent in your job?

Reference no: EM13245296

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