This is Challenge 3 of the 6 week economics challenge series by @spectrumecons.
This challenge allows me to trade with $10 million. I can buy any commodity from any of these city on DAY 1 and sell in any city on DAY 7.
- Crunchy Town
- Meteor City
- TyrantVille
- Riddle Widdle Town
- Grudge Town.
PRICE ON DAY 1
Using the triangle distribution.
Here is the price on DAY 7
Here is my solution for the triangle distribution.
This is a table for the cheapest price I can buy any of the commodity
An average for the day 7 price of goods. Estimated from the triangle distribution.
This give the best price I can sell any of the commodity.(extrated from the average price in 2 above)
From the above statistics it is no doubt that as a economist, I will be giving my money to the commodity that can get me the best output in the same limit of time.
I will buy 4,000,000 pound of copper with all my money ($10 million) from meteor city and on day 7 I will sell at grudge town at an average rate of $5. Giving me an amount of $20 million and a gain of $10million.all calculations were done on a spreadsheet and my answers were extrated from it.