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6. Television has created a national market for much entertainment. As a result of that national market, there are a few entertainers who earn tremendous sums of money. Most entertainers, however, do not earn more than people in other lines of work.

The Internet has the potential to radically alter education in much the same way that television and radio has radically altered entertainment. Suppose that students begin to get their lectures via the Internet. How many different economics courses will prosper? If 50 people are offering courses, will all be equally attended? Suppose that two or three are considered a little better than the rest. Maybe they tell better jokes, have a bit more charisma, or are associated with prestigious universities. Will they get only a little more of the audience or will they get most of the audience? If you believe that the Internet is going to revolutionize education, are you more likely or less likely to pursue a career in education?

7. Examine that part of the economic world you know best. To what extent do you think differences in earnings can be explained by absolute differences in productivity? Can you see cases where relative differences in performance may apply? Are there other causes you can identify contributing to pay differences? If you find them, are they consistent with firms maximizing profits?

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