amusing?

Mike Cole (mcole who-is-at weber.ucsd.edu)
Thu, 18 Jul 1996 20:11:30 -0700 (PDT)

This was sent to me by an economist friend.
For your be/a musement
mike
TEACHING MATH THROUGH THE DECADES

In 1950: A logger sells a truckload of lumber for $100. His cost of
production is four-fifths of the price. What is his profit?

In 1960: A logger sells a truckload of lumber for $100. His cost of
production is four-fifths of the price, or $80. What is his profit?

In 1970 (new math): A logger exchanges a set L of lumber for a set M of
money. The cardinality of set M is 100, and each element is worth
$1.00. Make 100 dots representing the elements of the set M. The set C
of the costs of production contains 20 fewer points than set M.
Represent the set C as a subset of M, and answer the following
question: What is the cardinality of the set p of profits?

In 1980: A logger sells a truckload of lumber for $100. His cost of
production is $80, and his profit is $20. Your assignment: underline
the number 20.

In 1990: (outcome-based education): By cutting down beautiful forest
trees, a logger makes $20. What do you think of this way of making a
living? (Topic for class participation: How did the forest birds and
squirrels feel?)

In 1996: By laying off 40% of its loggers, a company improves its stock
price from $80 to $100. How much capital gain per share does the CEO
make by exercising his stock options at $80? Assume capital gains are
no longer taxed, because this encourages investment.