In the film, Brewster’s Millions, Montgomery Brewster, a former minor league baseball pitcher, has the opportunity to inherit $300 million from his late great-uncle. In order to do so, he must spend $30 million in 30 days under a complicated set of rules brought forward by the law office of Granville & Baxter. Throughout the 30 days, Brewster experiences a rollercoaster ride, facing many ups and downs, but ultimately is able to inherit the grand prize. In my scenario, I have to spend $2 billion in 30 days and the same set of rules brought forward in the movie apply. If I were given this opportunity, I would take the offer because something like this does not come around every day. If I win, then I would not have to worry about any financial
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I am not allowed to create any assets, I can gamble 5%, and donate 5%. In order to not have any assets by the end of the 30 days, it is essential to rent everything and not buy anything. I would rent 30 suits, one suit for each day, from Richard Jewels. The Richard Jewels Diamond Edition suit prices out at $900,000, and for 30 days, I would spend $27 million on suits alone. In addition to renting, I would throw extravagant parties every night in different locations around the world in the most expensive hotels. Each night, I would be in a different city, such as New York City, Los Angeles, Miami, Japan, Dubai, London, Berlin, Rio de Janeiro, Barcelona, etc. In order to get to these locations quickly and efficiently, I would rent the Airbus A380, a $500 million private jet owned by Saudi Prince Al-Waleed bin Talal. For the parties, I would hire many big name entertainers, such as Drake, Beyonce, Max Dorsey-Gordon, Lil Dicky, etc.. According to their agents, such as Richard De La Font Agency, big name entertainers cost over $100,000 per day, so I would pay them $10 million for each night. Moreover, I would hire celebrity chefs to cook each night and I would pay them roughly $10 million for each night they work at my party. These are several ways to spend the money without creating …show more content…
An opportunity cost is the cost of an alternative that must be forgone in order to pursue a certain action. Opportunity cost is seen in the movie when Brewster must make the decision to take the wimp clause of immediately inheriting $1 million or to take the offer of spending $30 million in 30 days to earn $300 million. Also, there are two economic phrases, often said by renowned Economics teacher Max Dorsey Gordon, “Incentives matter” and “There is no such thing as free lunch.” The phrase “Incentives matter” can be broken down like this: an incentive is something that motivates an individual to perform an action. The study of incentive structures is central to the study of all economic activities. In the film, the incentive is the money Brewster can earn if he successfully completes the challenge. The phrase, “There is no such thing as free lunch,” expresses the idea that even if something seems like it is free, there is always a cost, no matter how indirect or hidden. This phrase is applicable to the film because although Brewster earns $300 million for free, the law firm is supplying the money, which they are losing. These are the economic concepts illustrated in the
I am not allowed to create any assets, I can gamble 5%, and donate 5%. In order to not have any assets by the end of the 30 days, it is essential to rent everything and not buy anything. I would rent 30 suits, one suit for each day, from Richard Jewels. The Richard Jewels Diamond Edition suit prices out at $900,000, and for 30 days, I would spend $27 million on suits alone. In addition to renting, I would throw extravagant parties every night in different locations around the world in the most expensive hotels. Each night, I would be in a different city, such as New York City, Los Angeles, Miami, Japan, Dubai, London, Berlin, Rio de Janeiro, Barcelona, etc. In order to get to these locations quickly and efficiently, I would rent the Airbus A380, a $500 million private jet owned by Saudi Prince Al-Waleed bin Talal. For the parties, I would hire many big name entertainers, such as Drake, Beyonce, Max Dorsey-Gordon, Lil Dicky, etc.. According to their agents, such as Richard De La Font Agency, big name entertainers cost over $100,000 per day, so I would pay them $10 million for each night. Moreover, I would hire celebrity chefs to cook each night and I would pay them roughly $10 million for each night they work at my party. These are several ways to spend the money without creating …show more content…
An opportunity cost is the cost of an alternative that must be forgone in order to pursue a certain action. Opportunity cost is seen in the movie when Brewster must make the decision to take the wimp clause of immediately inheriting $1 million or to take the offer of spending $30 million in 30 days to earn $300 million. Also, there are two economic phrases, often said by renowned Economics teacher Max Dorsey Gordon, “Incentives matter” and “There is no such thing as free lunch.” The phrase “Incentives matter” can be broken down like this: an incentive is something that motivates an individual to perform an action. The study of incentive structures is central to the study of all economic activities. In the film, the incentive is the money Brewster can earn if he successfully completes the challenge. The phrase, “There is no such thing as free lunch,” expresses the idea that even if something seems like it is free, there is always a cost, no matter how indirect or hidden. This phrase is applicable to the film because although Brewster earns $300 million for free, the law firm is supplying the money, which they are losing. These are the economic concepts illustrated in the