In professional baseball,some players earn over $6 million per year while the average salary is $1.2 million.The explanation for this rests with

Question

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A winner-take-all labor market in professional baseball means that the top players who perform at an exceptional level are in high demand and can command higher salaries, while the average players have more competition and are not as highly valued. This leads to a steep income hierarchy in the industry, where a small number of elite players earn a disproportionate amount compared to the rest.

In Professional Baseball,some Players Earn Over $6 Million Per Year