Consider how marginal benefits and marginal costs fit into Luke's decision, and how the concept of diminishing marginal utility is at work as Luke eats more and more eggs. a. What is driving his marginal benefits to continue to exceed his marginal cost? b. Consider how Luke's decision would change if he had to actually pay for each egg he eats. How would this affect his choice to continue eating? c. Consider the concept of marginal utility per dollar spent (i.e. MU/P) and how it affects the consumption decisions we make. Think of a time when you ended up buying your second choice instead of your first choice. Explain how that decision was made because it wasn't only about marginal utility for you, but about marginal utility per dollar spent. ^{ECO 202 Cool Hand Luke Transcript}

^{LUKE:I can eat fifty eggs.}

^{DRAGLINE:Nobody kin eat fifty eggs.}

^{SOCIETY RED:You just said he could eat anything.}

^{DRAGLINE:You ever eat fifty eggs?}

^{LUKE:Nobody ever ate fifty eggs.}

^{GAMBLER:Babalugats! We got a bet here.}

^{DRAGLINE:Mah boy say he kin eat fifty eggs, he'll eat fifty eggs.}

^{LOUDMOUTH STEVE:Yeah but in how long?}

^{LUKE:An hour.}

^{SOCIETY RED:Well I believe I'll have to take part of that wager.}

^{DRAGLINE:Two dollars here.}

^{GAMBLER:Oh, come on now, let's talk some money.}

^{DRAGLINE: Awright, twenty dollars. Anything! The Syndicate'll cover any bet you want to make. Koko go get some paper.}

^{KOKO:Dragline... fifty eggs got to weigh a good six pounds.}

^{DYNAMITE:Man's gut can't hold that. They'll swell up and bust him open.}

^{BLIND DICK:You're gonna kill him.}

^{DRAGLINE: Alright. Getcha money, up. Gambler! Dynamite! Get it up. Kokonut Head here is taking the money. Come on Loudmouth -- get it up!}

^{GAMBLER:How's he gonna eat 'em?}

^{LUKE:Boiled for fifteen minutes. I eat the whole thing in an hour.}

^{SOCIETY RED:One rule! No throwing up. He throws up, you forfeit everything.}

^{DRAGLINE:Now when was the last time you ever see mah boy throw up? Now, shut your mouth and give your money to Koko!}

^{DRAGLINE:Luke, Why'd you have to say fifty? Why not thirty-five or thirty-nine?}

^{LUKE:It seemed like a nice round number.}

^{DRAGLINE:Luke that's money were talking about. What's the matter with you?}

^{LUKE:Yeah, well, it will be something to do.}

^{DRAGLINE: What did I do? Stole and tole lies. I loved mah neighbor and his wife, but wait a second what we got to do is stretch that l'il ol' belly of yours -- git all this stuff out of the way of those eggs}

^{coming down.}

^{XXX:Ready. And go}

^{DRAGLINE: Hey,Boss! Man needs a brown bomber and a dose of salts.}

^{ALIBI: Nobody said nothin' about that! LOUDMOUTH STEVE:Same as dopin' a race horse!}

^{SLEEPY: It don't sound right.}

^{TATTOO: You can't do that! DRAGLINE:No money back! [Arguing]}

^{DRAGLINE: Awright! Stand back, you pedestrians, this ain't no automobile accident! [Several inmates talking]}

^ALIBI:

^{You're peeling his eggs!}

^DRAGLINE:

^{That's right, Mister Alibi.}

^{SOCIETY RED:He peels the eggs himself. That's understood.}

^{DRAGLINE: Now you jus' may be great at hangin' paper around the big cities, but us country boys is not entirely brainless. When it comes to the law, nothin' is understood.}

^{LOUDMOUTH STEVE:Who made what law about peeling his eggs?}

^{DRAGLINE: I'm his trainer, I'm the syndicate coverin' all bets, and I'm his official egg peeler. That's the law.}

^[Arguing]

^{SOCIETY RED:Just wait till the hour starts, that's all.}

^{LUKE: What's goin' on? DRAGLINE:Alright, ready chap? SOCIETY RED:One, two, three...}

^{KOKO:He's gonna lose a finger eating eggs like that.}

^{SOCIETY RED:...twenty-four. Twenty-five...}

^{DRAGLINE: Slow down a little. SOCIETY RED:Twenty-six... [Several inmates talking]}

^{SOCIETY RED:... thirty-two.}

^{SOCIETY RED:Eighteen to go!}

^{BLIND DICK:He's like a ripe watermelon about to bust itself open}

^{GAMBLER:I'm throwin' in my last tenner. He don't look good.}

^{GAMBLER:Oh you gonna come crawlin' around beggin' for a cold drink, Drag. Your boy is done for!}

^{MECHANIC:If I give you a dollar and he don't eat all fifty eggs, I get two dollars?}

^{DRAGLINE:You're a sweet old boy and I don't like to see you pick up no bad habits. Better use that dollar to buy yourself a new spark plug or something. But as long as you done took a stand, why don't you put some money where your mouth is? And not no measly buck!}

^{MECHANIC:Well all I got is three-seventy-five Drag.}

^{DRAGLINE: It's a bet! Koko! Alright I want to hear from the rest of you. Where are the big money men, where's all the high rollers.}

^{SOCIETY RED:I believe you've got it all, Dragline. Every cent in camp is riding.}

^{SOCIETY RED:Thirty-three. ALIBI:Carr? What's the time? CARR:Twenty-four minutes to go.}

^{DRAGLINE:Come on, boy, come on, darlin'. You kin do her. Just let that ol' belly sag and enjoy itself.}

^{SOCIETY RED:Thirty-nine...forty-one}

^{DRAGLINE: Stay loose, buddy. Just nine more, between you and everlasting glory. Just little ol' eggs, pigeon eggs, that's all, fish eggs practically.}

^{LOUDMOUTH STEVE:Carr? Time?}

^{CARR:Six minutes to go, Stevie.}

^{SOCIETY RED:... forty-two...}

^{LOUDMOUTH STEVE:He's helping him chew.}

^{DRAGLINE:Just shakin' it down, that's all, settlin' them eggs down...}

^{DRAGLINE:That's it, that's how to do it, chew, chew, chew!}

^{CARR:Two minutes totime...}

^{SOCIETY RED:...forty-four...}

^{DRAGLINE:All right now: get mad at them eggs. Eat it there boy! Chew on it! Gnaw on it!}

^{CARR:thirty seconds.}

^{DRAGLINE:Stuff it in there. Get it in. That's the last one!}

^{CARR:ten, nine, eight, seven... six...five...four...three...two...one... zero!}

^{SOCIETY RED:Hold it. He didn't swallow the last...}

^{DRAGLINE:You think so, huh? Well let's take a look here. Open that mouth}

^[Cheering]

^{Inmate:Nobody can eat fifty eggs}