Subject: Economics / General Economics
A) Who has more monopoly power—Wal-Mart or the concessionaire who has acquired the franchise to sell beer, hot dogs, colas, candy, etc., at FedEx Field where the Washington Redskins play home football games? Explain.
B) Who has more monopsony power—Wal-Mart or teams in the National Football League (NFL) that draft prospective new players and thereby acquire the sole right within the NFL to negotiate with these prospects, nearly all whom come from college football teams? (Hint: If you don’t have any idea how the NFL draft works, then you should Google the topic a bit before you answer.)