Which of the following statements is NOT true?
A) Even though the essence of sports is competition,professional sports clubs cooperate with each other in the marketplace
B) Professional sports leagues are economic cartels
C) From an economic perspective,the NFL,NHL,NBA and MLB are competitive markets
D) Professional sports leagues have monopsony power in the resource market
E) Owners of professional sports clubs attempt to maximize their joint profits by joining leagues
Correct Answer:
Verified
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