http://freakonomics.blogs.nytimes.com/2007/02/20/more-economics-music/ Except from the article; The song goes something like this: 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.
hahahhahaha classic.
From the same site… Econo-Rap… It’s all about the Law of Supply and Demand, Prices are set by the Invisible Hand. A floor that’s put on your product’s price Is something the consumer will find not nice. If you raise your price when demand’s elastic, Your revenue will drop and you’ll go ballistic. Get the same extra utiles for each extra dollar, The maximum utility is sure to follow. Produce where price equals marginal cost If you don’t you’ll find that your profits are lost. Always think about cost, opportunity, If not, you’ll find you’re hurting your community. Think margin, think margin. Monopolists set MR to marginal cost The result is that consumer surplus is lost Make sure your strategies are subgame perfect Plan your strategic interactions without any defect. Tax the inelastic, or you’ll be hurtin’ Because you’ve created a large excess burden. With positive externalities it’s always wise, To encourage more production — subsidize. A tariff or a quota helps a few producers, But consumers will always be the big losers. Sometimes you gotta choose efficiency or fairness, Ya need more than econs, ya need political awareness. Think margin, think margin.