An economist is at a baseball game when he sees a man outraged that a hotdog costs twelve dollars, and a beer costs 20. “I just wanted to have a fun day with my family, but tickets are suddenly 100 dollars! Now this?!”
What an idiot, the economist thinks. Can’t he see the revenue he’s generating?? The economist pays 64 dollars for two hotdogs and two beers, which he immediately drops on the ground, which makes him very happy.
An economist is at a baseball game when he sees a man outraged that a hotdog costs twelve dollars, and a beer costs 20. “I just wanted to have a fun day with my family, but tickets are suddenly 100 dollars! Now this?!”
What an idiot, the economist thinks. Can’t he see the revenue he’s generating?? The economist pays 64 dollars for two hotdogs and two beers, which he immediately drops on the ground, which makes him very happy.