13. We generally assume that sports organizations a. face down sloping demand cu

Question

13.    We generally assume that sports organizations  
    a.    face down sloping demand curves and are perfectly competitive
    b.    face down sloping demand curves and are not perfectly competitive
    c.    face flat demand curves and are perfectly competitive
    d.    face flat demand curves and are not perfectly competitive

14.    In the expression RG = Rh + (1-)Ra,
    a.    RG = Ra if no revenue is shared
    b.    Rh represents the franchise’s broadcast revenue and Ra represents its licensing revenue
    c.    represents the percentage of gate revenue retained by the home team
    d.    the ratio /(1-) represents the percentage of gate revenue retained by the home team

Explanation / Answer

13) d  - face flat demand curves and are not perfectly competitive
14) a -  RG = Ra if no revenue is shared

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