In Major League Baseball,a player's WAR (wins above replacement) is a rough measure of the player's marginal product of labor.Specifically,WAR measures how many additional wins a player's performance would register for the team above the performance of the average player at his position.For 2015,center fielder Mike Trout of the Los Angeles Angels had a war of 7.55.(Assume that Trout's performance in 2016 is expected to be exactly the same as in 2015.) Suppose an additional win is worth $1.7 million to the Angels in 2016.What is Trout's value of marginal product of labor in 2016? Explain your answer.
A) $1.7 million
B) $7.55 million
C) $12.84 million
D) $17 million
Correct Answer:
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