tag:blogger.com,1999:blog-2737366569116410079.post7937009546412185894..comments2023-08-29T07:16:57.752-07:00Comments on Rational Ignorants: A Stand-up QuizPete Abbatehttp://www.blogger.com/profile/06938045103916078576noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2737366569116410079.post-56535571336479500142008-07-19T09:34:00.000-07:002008-07-19T09:34:00.000-07:00As a side note, I just saw an Arby's add offering ...As a side note, I just saw an Arby's add offering 2 Beef n Cheddars for 4 dollars. I guess Arby's advancements in technology couldn't keep pace with inflation.Josh Knoxhttps://www.blogger.com/profile/14253332860821611122noreply@blogger.comtag:blogger.com,1999:blog-2737366569116410079.post-5241605302570873262008-07-19T09:26:00.000-07:002008-07-19T09:26:00.000-07:00Four out of five is pretty good. Economies of sca...Four out of five is pretty good. Economies of scale explain why Arby's was first able to offer the 5 for 5 deal, but it doesn't explain How Arby's could lower the REAL price of the deal over time (offer Beef n Cheddars at the same price over 14 years in spite of inflation).<BR/><BR/>The answer I was looking for was that Arby's could either reduce the quality of their Beef n Cheddars, or it could utilize some new technology to produce them at a lower cost.Josh Knoxhttps://www.blogger.com/profile/14253332860821611122noreply@blogger.comtag:blogger.com,1999:blog-2737366569116410079.post-74362471258654543322008-07-18T18:00:00.000-07:002008-07-18T18:00:00.000-07:00Hey teach- do I pass?1. The expression "kill two b...Hey teach- do I pass?<BR/><BR/>1. The expression "kill two birds with one stone" can apply to limited material/monetary resources. It could also apply to (the arguably scarce resource) time.<BR/><BR/>2. The collective action problem is free riding. If enough people contribute, everyone gets what is wanted. But if nobody contributes, expecting others to do so, nobody achieves a desired result.<BR/><BR/>3. The real price has probably decreased.<BR/><BR/>4. Arby's five for five deal is such a deal it provides free, word of mouth, advertising, which is worth more than potential losses. Since the promotion's introduction, more people buy the product, multiplying smaller profit into a worthwhile sum.<BR/><BR/>5. There's something called competition. If Arby's was really "highballing" a look a competitors pricing should have clued Thune in.Anonymousnoreply@blogger.com