Professional athletes would earn even more if it were not for the ____________ power of professional sports.
A)monopoly
B)monopsony
C)union
D)None of these choices are true.

Question

Quizplus · Accepted Answer

A monopsony exists when there is only one buyer in a market. In professional sports, the team owners act as a monopsony, controlling the demand for professional athletes. This limits the bargaining power of individual athletes and allows team owners to pay lower salaries than athletes might earn in a more competitive market. Therefore, professional athletes would earn even more if it were not for the monopsony power of professional sports.

Professional Athletes Would Earn Even More If It Were Not