In the UK in 2015, the average wage stood at £26 500 per year. At the same time, some footballers were receiving more than £150 000 each week. Which part of the theory of wage determination is most likely to account for this difference in wages?
- Aaggressive wage bargaining by the professional footballers’ trade union
- Bthe inclusion in wages of an element of economic rent
- Cthe monopsony structure of the market for professional footballers
- Dthe theory of net advantages