Friday, July 30, 2004

The joy of being an economist

It makes you come up with new games, Peter Leeson from Common Knowledge wants us to have Fun with Average Cost.

"Chris and I went to dinner last night and discovered a new and entertaining game that's fun for the whole family. We decided to see who could drive the average cost of their soft drink closest to zero. Coke, which both of us were drinking, cost $1.50 with free refills. Of course, you know what that means. . . marginal cost is zero. This makes it especially easy to drive down average cost since total cost is not rising at all with consumption. "

I dont' know how to put this, but I've just met a nice girl and I don't want too scare her off. She already thinks that the books and articles on economics that I read are "scary".