Sunday, April 17, 2011

Application of Economics in Life

This is an excerpt...

All the tests and exams and assgmts must have loosened our screws. Had lunch with the monkey in Pyramid Macd...

Monkey: How u did yr tutes man? And study for the tests and assignments...
Me: I did it in advance cuz I saw the busy weeks. Having no friends in uni means I have no social life. No social life increases the quantity of available time. So qty demand of time decreases, qty supply of time increases. Increase in supply of time leads to more work done, which increases work productivity. Also, cash outflow on social activities decreases.
Monkey: Yeah, but no social life also decreases quality of life coz ull get bored and lonely. So work productivity decreases. And a social life gives you economies of scale coz u get to copy during tests and discuss for assignments. And there'll be diminishing marginal returns of productivity coz for every extra hour of time you get, the benefit obtained from studying diminishes due to information overload.

I think we are both screwed lol.

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