In the world of professional sports (football, baseball,basketball), teams which have an operating profit often have aworse win-loss record compared to teams with lower operatingprofits or an operating loss (teams with the best players win, andthe best players cost money). (a) Would you consider a professionalsports team to be a profit maximizer? Please explain.
(b) If your answer to (a) is no, then what financial reason isthere for anyone to own a professional sports team? Pleaseexplain.
