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28 October, 10:11

An economist would explain the huge salaries commanded by entertainers and professional athletes as

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  1. 28 October, 11:18
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    An economist would view this as supply and demand. A very successful entertainer or athlete could command a high salary because there are few people of their talent and there is a high demand from the public to see them perform. Hence, from such a limited pool they could command a higher price than most of their competition.
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