1. What is the Louis-Schmeling Paradox and what is its significance for the economics of sports?

  treat it as
a short essay of 500 words. You could structure it so that it contains at most three
short parts each comprising approximately 150 words each. The first part should set
the stage or context related to the title and briefly outline any necessary background.
The middle part should contain the central arguments you are using to answer the
question. The final part should provide a summary within which an answer to the
question posed in the title is contained, with suitable caveats (if necessary)  

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