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    Applied economics

    Assalammu Alaikum everybody...

    How r u all doing? Many ppl here will not recognise me since I'm a relatively new member... so I am still trying to break the ice... I am Adil from Birmingham in the UK... and 20 years old...

    Anywayz, salam...

    I have a problem right here... if u could throw some light upon...

    Question:

    You are a hero with a broken sword being chased by a troop of bad guys. Fortunately you are on a horse and they are not. Unfortunately your horse is tired and they will eventually run you down. Fortunately you have a bow. Unfortunately you have only ten arrows. Fortunately, being a hero, you never miss. Unfortunately there are forty bad guys.

    The bad guys are strung out in line behind you, with the fastest in front. They are close enough to count your arrows.

    Problem: Use economics to get away.

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    They shoot partypoopers, don't they?

    [This message has been edited by Mr Partypooper (edited September 03, 2000).]

    #2
    I don't think you actually need any economics actually... just see what you can come up with...

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    They shoot partypoopers, don't they?

    Comment


      #3
      hey MrPartypooper, an arrow , when fired from close range can penetrate through 4 people, as you said they were in a straight line, you can easily get rid of them 4 at a time. Personally, i think the hero was an idiot

      Comment


        #4
        A good attempt, kaka malang but not the correct answer...

        ...because you are introducing your own assumptions to answer the question...

        ... Just use the assumptions/info given within the question to help you answer it...

        Hint? People respond to incentives...


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        They shoot partypoopers, don't they?

        Comment


          #5

          Comment


            #6
            This one’s easy. Join the group of villains (supply side economics) and keeping in with the neo-classicists, use tax base to finance wars, for which one will have to come-up with a viable and suitable technique of withholding (a lot of disagreement may emerge as to what “suitable” means). Kensyans, may yet, look for “rational thinking” on the part of the villains, but Hero may be viewed as a plain schmuck and by keeping the traditions of accumulated wealth, it is entirely upto the Hero to make a rational decision. The market oriented approach (Milton Friedman) may in fact cause death to Hero, but the point to be made is that so what? It may have a trickle down affect (or may not, depending upon the school you attended) and may discourage people to pursue a career in Heroism.

            The bottom-line is that there is no one straight answer to this rather complex problem that the applied economics can answer. The only answer that is more feasible is that stupid Hero to use commonsense (Adam Smith School) and get out alive. Now, how does one define commonsense? Ask any economist and you will get an answer (or a few hundred ones).

            Finally, I would like to add that Economics is the only field in which two people can share a Nobel Prize for saying opposing things. I also believe that one should practice economy at any cost.

            Comment


              #7
              http://www3.pak.org/gupshup/smilies/pagal.gif

              NYA, please tell me that u are joking...



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              They shoot partypoopers, don't they?

              [This message has been edited by Mr Partypooper (edited September 06, 2000).]

              Comment


                #8
                I thought it was high time to dig this out of the recesses of GupShup and put you all out of your misery...

                Here is the solution:

                The answer is to make the marginal cost higher than the average cost...

                In English that means the following...

                The average cost to the bad guys is that they only lose a quarter of their people. However, each person running in the front of the line loses his life since we know the hero never misses...

                So all the hero has to do to escape from the clutches of his enemies is to simply shoot the person in the front. Then shoot the person in the front. Then shoot the person in the front...

                Do you see what happens?

                Each bad guy realises that being in the front means that he is certainly going to die. The remaining bad guys start to have a competition in running slow.

                And so our hero escapes...

                ------------------
                They shoot partypoopers, don't they?

                Comment

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