| In 1950: A logger sells a truckload of lumber for $100. His cost of production
is four-fifths of the price. What is his profit? |
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In 1960: A logger
sells a truckload of lumber for $100. His cost of production is four-fifths of the price,
or $80. What is his profit? |
| In 1970 (new math): A logger exchanges a set L of lumber for a set M of money.
The cardinality of set M is 100, and each element is worth $1.00. Make 100 dots
representing the elements of the set M. The set C of the costs of production contains 20
fewer points than set M. Represent the set C as a subset of M, and answer the following
question: What is the cardinality of the set P of profits? |
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In 1980: A logger sells a truckload of lumber for $100. His cost of production
is $80, and his profit is $20. Your assignment: underline the number 20 |
In 1990: (outcome-based education): By cutting down beautiful forest trees, a
logger makes $20. What do you think of this way of making a living?
(Topic for class participation: How did the forest birds and squirrels feel?) |
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In 1996: By laying off 40% of its loggers, a company improves its stock price
from $80 to $100. How much capital gain per share does the CEO make by exercising his
stock options at $80? Assume capital gains are no longer taxed, because this encourages
investment. |
