The late Ed Mirvish, owner of HONEST ED'S, a discount department store
in Toronto, introduced a policy of giving a large number of his customers,
on a first-come-first-served basis, turkeys every Christmas at virtually
zero prices. The line-ups for these bargains were many hours long and every
year received mention in the local newspapers. These lineups indicate
1. that Ed was stupid because he didn't understand
the principles of supply and demand.
2. that Ed's customers were stupid to stand in line
for many hours to save $15 on a Christmas turkey.
3. both the above.
4. none of the above.
Choose the option that yields the correct answer.