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Ok, I needed some chapstick.  So, I decided to stop at one of the convenience stores/gasoline pump set ups.   You stopped before at this type of set up.  The store has cold products, candy, and that mainstay, the machine with the rotating hot dogs (yum yum).  Back to the chapstick.  I asked the clerk “Excuse me, where is the chapstick?”  She pointed at the right aisle.  Sticker shock: $2.29 for one stick of cherry chapstick! I grabbed it but couldn’t bring myself to buy a roll of chapstick at this price.  So, I exited the store, had lunch with a student, and waited on the chapstick because I had to do some shopping at Wal-Mart.  I knew the chapstick would be cheaper at Wal-Mart; I was right it was only $0.89.  Notice where the decimal point is, that’s a mere 89 cents (less than a dollar).  So, here’s the equation to figure the mark up at the convenience store: 0.89+0.89X = $2.29.  Assuming my equation is correct and solving for X we find that the convenience store marked up the chapstick by 157 percent (%)!   Now that is highway robbery.  I will think twice about buying something again from a convenience store.  (I need to say this to clear my conscience, the chapstick at the convenience store did come in a cute package; the chapstick from Wal-Mart was a stand alone, no packaging.  However, would packaging warrant a 157% increase in price?  I don’t think so.)

One Comment

  1. i guess the 157% increase is the price we pay for “convenience.”

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