More Economics Music

This song was written by a procrastinating Econ 101 student:

“Girl, Your Marginal Benefit Is Far Greater Than Your Marginal Cost”

The tune is quite catchy. If you listen to the lyrics carefully, though, you will see that the singer/songwriter probably should have spent more time studying for the exam and less time writing this great song…the economics concepts described are pretty suspect! Perhaps blog readers can identify some of the economic missteps in the lyrics so this young man doesn’t fail his exam.

(Thanks to James Somers for passing this along.)


johnleemk

Perhaps I have no life, but I actually analysed the song's lyrics trying to find inconsistencies and mistakes. I'm not a real economist, so I probably screwed up somewhere, but here goes:

http://www.infernalramblings.com/articles/Random_Musings/143/

Chewxy

I couldn't hear much (ear problem, I guess, but that's why I don't follow podcasts), but I found the lyrics:

Girl, being with you has always been so tough
With each passing minute, your marginal cost goes up
But my love is inelastic and it all belongs to you
I'm the only love producer, and my good is for you to consume

Because girl your marginal benefit far outweighs your marginal cost
Without our equilibrium baby, you know I'd be lost
Trapped inside this market I need you, to buy my love
Girl without your complementing goods, I'm not enough

Now you say that I'm producing, below my ATC
But I'm optimizing quantity baby, why can't you see?
We could share this surplus, each and every day
If you would just buy my love, I'll make my fixed costs go away

Baby I want to keep you for the long run, Oh yeah
I think our supply and demand, will become one…

Because girl your marginal benefit far outweighs your marginal cost
Without our equilibrium baby, you know I'd be lost
Long run equilibrium is no place for me
I need the profits of our love, to grow exponentially.

Now... I AM REALLY ROFLING

Read more...

lermit

How sound is your curve?

.lermit

Mack

Ooh, that's a Laffer.

lermit

Where the transcription says

Because girl your marginal benefit far outweighs your marginal cost

it should actually say

Because girl your marginal benefit far outweighs your marginal cost_s_

Thanks!

.lermit

MikeP

The line "Long run equilibrium is no place for me" seems to be a reference to the long-run zero-profit condition in perfectly competitive markets. And yet earlier, he's established that he's a monopolist in this market ("the only love producer). So the zero-profit condition need not apply.

Unless of course, there's a substantial threat of the entry of new firms if he doesn't keep his customers happy...

johnleemk

The song reminds me a lot of a math/economics joke I heard some months back: I wish I were your derivative so I could lie tangent to your curves. :p

G.V.Varma

Girl, my flow equilibrium is your stock equilibrium,
Your capacity utilisation is my
liquidity problem,
My consumer's surplus is your
producer's surplus,
In your vicious circle
My big-push begins,
I believe in a
Critical minimum effort,
Baby,I cant fall in to a
Low level equilibrium trap.

hcthangudu

Regarding Economics. Mr.Levitt

If I had data for inventories on all the grocery stores in the United States and Drug statistics around those stores, could I feasibly see if there is a relationship between amount of baking soda purchased and crack production?

Is it possible? I know there are barriers to the approach which would have to be addressed, but is it possible?

ikari

Isn't it likely that the MU>>MC statement basically means that he's writing a lovesong about how he misallocates alternative resource, directing it from the consumption of the object of his affection?

ajinkya

here's the de facto indian subcontinental engineering student's anthem (rumour has it that its originally from a pakistani student band,but is known everywhere where a frustrated engineering student' soul resides and where hindi is understood )
http://www.youtube.com/watch?v=4789ZxgBJ0Y

its an ode to the great romance of an engineering student to his cigarette... the brave,valiant fights that he/she has to fight to obtain the puff..
the lyrics cant be posted in any self or otherwise respectable comm.. so if u wanna know..tell me and i shall enlighten thou.

p.s.- i dont smoke..

johnleemk

Perhaps I have no life, but I actually analysed the song's lyrics trying to find inconsistencies and mistakes. I'm not a real economist, so I probably screwed up somewhere, but here goes:

http://www.infernalramblings.com/articles/Random_Musings/143/

Chewxy

I couldn't hear much (ear problem, I guess, but that's why I don't follow podcasts), but I found the lyrics:

Girl, being with you has always been so tough
With each passing minute, your marginal cost goes up
But my love is inelastic and it all belongs to you
I'm the only love producer, and my good is for you to consume

Because girl your marginal benefit far outweighs your marginal cost
Without our equilibrium baby, you know I'd be lost
Trapped inside this market I need you, to buy my love
Girl without your complementing goods, I'm not enough

Now you say that I'm producing, below my ATC
But I'm optimizing quantity baby, why can't you see?
We could share this surplus, each and every day
If you would just buy my love, I'll make my fixed costs go away

Baby I want to keep you for the long run, Oh yeah
I think our supply and demand, will become one...

Because girl your marginal benefit far outweighs your marginal cost
Without our equilibrium baby, you know I'd be lost
Long run equilibrium is no place for me
I need the profits of our love, to grow exponentially.

Now... I AM REALLY ROFLING

Read more...

lermit

How sound is your curve?

.lermit

Mack

Ooh, that's a Laffer.

lermit

Where the transcription says

Because girl your marginal benefit far outweighs your marginal cost

it should actually say

Because girl your marginal benefit far outweighs your marginal cost_s_

Thanks!

.lermit

MikeP

The line "Long run equilibrium is no place for me" seems to be a reference to the long-run zero-profit condition in perfectly competitive markets. And yet earlier, he's established that he's a monopolist in this market ("the only love producer). So the zero-profit condition need not apply.

Unless of course, there's a substantial threat of the entry of new firms if he doesn't keep his customers happy...

johnleemk

The song reminds me a lot of a math/economics joke I heard some months back: I wish I were your derivative so I could lie tangent to your curves. :p

G.V.Varma

Girl, my flow equilibrium is your stock equilibrium,
Your capacity utilisation is my
liquidity problem,
My consumer's surplus is your
producer's surplus,
In your vicious circle
My big-push begins,
I believe in a
Critical minimum effort,
Baby,I cant fall in to a
Low level equilibrium trap.

hcthangudu

Regarding Economics. Mr.Levitt

If I had data for inventories on all the grocery stores in the United States and Drug statistics around those stores, could I feasibly see if there is a relationship between amount of baking soda purchased and crack production?

Is it possible? I know there are barriers to the approach which would have to be addressed, but is it possible?