Problem
The manager of a major league baseball team argues: "Even if I thought Player X was washed up, I couldn't get rid of him. He's in the third year of a four-year, $24-million deal. Our team is in no position financially to eat the rest of his contract." Analyze the manager's reasoning by using economic theory.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.