18 May 2022 1:39 pm
No, the math has to work out, we just aren't modeling it correctly. And, I don't believe it requires two separate demand curves. The product demanded is air. The cost of that air is one life. Substitute one dollar for one life, and I think it works out. Or, if the life is worth an infinite amount, then substitute an infinite amount as the price. But, again, this is more of a philosophical question, isn't it. Models can be made to closely approximate real life. Heck, that's all you are doing with economics models anyway, supply and demand curves being some of the simplest.impartialobserver » 18 May 2022, 10:46 am » wrote: ↑ Prior to the bit about one's son, your example fits. Paying any price no matter how high in order to keep obtaining positive utility. No diminishing returns either because the good, air, is necessity and therefore you are never counterbalancing desire and resources.
You would have to have two separate demand curves in your situation. The math does not work out for two situations that are opposed to each other.
Community college? I would believe that. Answering questions and thinking was not clearly stated in the course description. Next time, bring a big bag of smarties in and hand one out to anyone who even utters a groan, snort or snore to show they are alive after you ask a question. The monkeys will soon understand that they get something in exchange for vocal responses to your inquiries. Sure, you might get written up for handing out toxic waste to retarded adults, but think of the opportunity cost you would be shedding from being relieved of the futile attempts at interacting with brain-dead community college flunkies!back to the topic, when class would start i would ask the simplest of questions such as what other options do you have besides sitting in this classroom? This illustrates opportunity cost. The glazed over looks were astounding to me.
Now, if these are post-graduate students, I would have a hard time believing some "flamer" who planted himself front and center didn't have his hand shooting up like a Bic Lighter flame every time you asked even a rhetorical question.