Bob has found two CDs he wants. CD #1 is his first choice, but CD#2 is two dollars cheaper. Which one do you think he will buy? Why?
Marion owns a bakery down the street from another bakery. Both bakeries are popular and charge the same price for a dozen cookies. Marion decides to drop the price of her cookies by twenty-five cents a dozen. How might this affect people buying cookies in the neighborhood?
Sam has been charging one hundred dollars for a popular electronic toy. He has recently discovered he has some of the last of these items available in the town. How might this affect the price Sam is charging?