1960s: A peasant sells a bag of potatoes for $10. His costs
amount to 4/5 of his selling price. What is his profit?
1970s: A farmer sells a bag of potatoes for $10. His costs
amount to 4/5 of his selling price, that is, $8. What is his profit?
1970s (new math): A farmer exchanges a set P of potatoes
with set M of money. The cardinality of the set M is equal to 10, and each
element of M is worth $1. Draw ten big dots representing the elements of M. The
set C of production costs is composed of two big dots less than the set M.
Represent C as a subset of M and give the answer to the question: What is the
cardinality of the set of profits?
1980s: A farmer sells a bag of potatoes for $10. His
production costs are $8, and his profit is $2. Underline the word
"potatoes" and discuss with your classmates.
1990s: A farmer sells a bag of potatoes for $10. His or her
production costs are 0.80 of his or her revenue. On your calculator, graph
revenue vs. costs. Run the POTATO program to determine the profit. Discuss the
result with students in your group. Write a brief essay that analyzes this
example in the real world of economics.
nice post bro ;-)