Friday, March 25, 2011

What Does Price Have to Do With It?

Yesterday, I held a small focus group with some high school students, and we discussed lunch. Most of these students don't eat in the school cafeteria on a regular basis. Because of open campus, students tend to rush out to the nearest fast food joint and load up. I asked, "How much do you pay for lunch when you're at a fast food restaurant?" They replied, "$5-8."

Can you believe it? School lunch costs $2.50. The pennies per calorie make for a better bargain at school. Plus, you don't exhaust time and gas to leave campus. Why are students willing to pay 100%-200% more for lunch elsewhere?

I'm reading The Price of Everything right now . . . If this question puzzles you as well, I highly recommend this book.

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