Economics

 

Home
AP Statistics
Economics
PreCalculus

 

A True Story--

A city boy, Sedge, moved to the country and bought a donkey from an old farmer for $100.  The farmer agreed to deliver the donkey the next day.  The next day, the farmer drove up and the two men had this conversation:

Farmer:  Sorry son, but I have some bad news.  The donkey died in the back of the truck.

Sedge:  Well, then just give me my money back.

Farmer:  I can't do that.  I already spent it.

Sedge:  Ok.  Then just unload the donkey.

Farmer:  What are you going to do with him?

Sedge:  I'm going to raffle him off.

Farmer:  You can't raffle off a dead donkey!

Sedge:  Sure I can.  Watch me.  I just won't tell anybody he is dead.

A month later the farmer met up with Sedge and the two men had this conversation:

Farmer:  What happened with that dead donkey?

Sedge:  I raffled him off.  I sold 500 tickets at $2 a piece.  I made a profit of $898.

Farmer:  Didn't anyone complain?  And, why didn't you make a $900 profit?

Sedge:  The only one who complained was the winner so I gave him his $2 back.

Sedge grew up and eventually became the chairman of Enron.

Economics Expectations
Curriculum Guide
Economics Assignments
Economics Assessments
Syllabus
Quiz 1 Outline
Quiz 2 Outline
Quiz 3 Outline