Sunday, December 12, 2004

Junction Boy (5)

My grandpa bought work socks for the Queen City Leatherworks in job lots from a jobber on Spadina Ave. There were two types - the ones with the red stripes and the ones with the blue stripes, but at the price paid, Lou couldn't be choosy about colour. He took whatever was in the lot, typically about half red-striped socks and half blue-striped socks. One day my father was stocking the shelves to discover that the latest batch contained only red-striped socks. He was very worried about this because the red and blue socks typically sold about evenly. He asked Lou, "Dad, what are we going to do?", to which Lou replied, "No problem son, we'll just raise the price of red-striped socks". My father didn't understand this, but was told to wait and see what happened. The first customer to discover the difference in price said to Lou, "How come the red ones are more?" My grandpa replied, "Those are made from 100% pure virgin wool - no substitutes - and the fibre count is exceptionally high. Feel the density of those socks". The customer held up a pair of each, weighing them in his hands. "You're right Lou, these red-striped ones are heavier - these socks are worth the extra money." Soon, word spread through the Junction, that you could get the heavy-duty red-striped socks for only a dime more than the old, inferior blue-striped socks. Next thing you know, the only socks being bought were the red-striped socks. Sales were brisk, and soon, it was time to order another lot of socks. My father opened up the boxes to discover that the entire lot consisted of blue-striped socks. "Dad, what are we going to do now? - all we can sell are the ones with the red stripes". "No problem son, we'll raise the price of blue-striped socks".

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