Please can you explain this example by using an economic concept? 2. Stan Kroenke is the owner of the NFL football team called the Rams. Prior to January 12, 2016 the Rams were based in St. Louis. Mr. Kroenke moved the team to Los Angeles where he will build his own stadium (using his own money) in a suburb of Los Angeles called Inglewood. The city of St. Louis had been willing to spend approximately $700 million of taxpayer funds to build a new stadium in downtown St. Louis. Do the former St. Louis Rams meet the qualifications to be a public good for the city of St. Louis? Will the economy of St. Louis be helped or hurt by the Rams moving to Los Angeles?
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The shifting of Rams team from St. Louis to Los Angeles will hurt the economy of St. Louis. Football is a game that is liked and watched by many people and it generates huge crowd eventually leading to increase in the regional economy. So if the crowd will shift to Log Angeles then its revenue will also be lost by St. Louis and hence if they invest on improving their stadium, this will eventually help them in retaining that crowd in St. Louis
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