Behind the big salaries are complex negotiations between labor and management. Students compare and contrast models of resolving differences by exploring player organizations in baseball's labor history.
- Recognize the economic effects of marginal utility.
- Understand the role of consumer demand in determining price.
- Identify factors that contribute to the changing level of consumer demand for a given product.
- Create a demand schedule and demand curve.
- Explain how a cost index is designed and used.
Baseball fan Erin States holds up signs that read "Kids love baseball" and "Please, no strike" before a game between the Seattle Mariners and Oakland Athletics at the Oakland Coliseum in Oakland, California on August 12, 1994. This was the last game played before the strike was called. (Brad Mangin / National Baseball Hall of Fame Library)