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My single person perspective says not to pay more than $20 for it.
Thinking about a parent perspective, I will pay up to $60 dollars just to see my child happy, if that is the toy my daughter really, really wants.

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They are highlighted to focus the readers attention to the important concepts of the writing.

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They are academic and content vocabulary. They are all related to economics.

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The highlighted phrases are referencing the law of supply and demand.

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The words are highlighted so students can focus on the vocabulary for this lesson. They all tie into economic theory of supply and demand.

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Normal behavior for black friday shoppers.
This just makes me wonder about what parents are teaching their own kids in terms of Priorities, values and differences between wants and needs.

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It is focusing on words that will help students understand the meaning  of Supply and Demand. It's vocabulary and context clues.

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Supply and demand and pricing. How things become priced based on market demands intentionally and unintentionally.

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The words that are highlighted all have to do with supply and demand.

It shows that companies know what they are doing.

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I would pay about $20

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After watching the video about the CPK, I think I would still pay the same about as before, which would be $25. I would pay more than what I paid for the beanie babies because it is a bigger item with more material. Even though there was a really high demand for the product (crazy shoppers), I still don't value it more that than.

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I can’t imagine wanting something so badly that I would pay and behave irrationally.

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I would pay the $20 for the doll, it is bigger than the beanie babies and it is made of more material.

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Substitute goods. Tell your kids to be grateful.

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There is an inherent value built into to an item based on the time spent to create it and the value of materials. However, although an item might be worth the cost because of quality of workmanship and material, I may not want to pay that much. Budget, need, want, etc.

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People are capable of becoming mindless sheep that will do anything regardless of logic and reason.

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If given the opportunity, I would be willing to pay $19.99 with the sole intent on placing the item on eBay. Again, this is a personal amount that I am willing to "gamble" in an effort to make a profit.

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The media helped create these crazes. Once the word gets out that a product is in demand it fuels the fire. It has become societal conditioning.

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I am not surprised how these adults reacted. People still act this way with something they want and the supply is low. For example, the Nintendo NES classic was a big thing people wanted this past Christmas. People are will to wait in line for hours to purchase something they want.

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I am not honestly surprised to see adults acting like this. It's sad to say, but as a society we are so enthralled with the "must have" product. If we don't get it, we feel  our life is over.

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People are crazy!

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American consumerism at its best. Good for the economy?

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Adults are ridiculous. We are responsible for teaching our children the difference between want and need and for being grateful for what we have.

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People are crazy.

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This is an economic concept.  When the supply diminishes to the ratio of the demand for any product, the price increases.  If anyone wants something badly enough, they are willing to pay the price or barter with the seller to establish a compromised price.  It's capitalism at its best.

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The buyers acted normal for Americans.

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The love of "I want" no matter what.
People don't really care when it comes to something they want. They will pay  any price for it causing the supplies to rise its prices humongously for those who are less fortunate.

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The price was different because people wanted the new "in" toy. They were willing to pay almost anything for it now, instead of waiting.

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People will pay the amount they feel a product is worth.

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The phone can be sold for that amount because the demand for the phone is high and the supply is low. People are willing to pay more just to have it first and that is why the EBAY seller could double the price.

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The price can be so different because the demand for the product is high, but the supply for the product is low. People placed bids for the product so the price increased. If there wasn't such a high demand for the product the price wouldn't be increasing as much.

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To this speaks to our consumer society and the gap between the haves and the have nots.

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The iPhone was sold out but was still desired by many. Therefore, if someone wants it and is willing to pay whatever price for it, a person can charge what ever price someone is willing to pay.

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The supply has diminished, yet there is still a demand. People are willing to pay that price to get the phone!

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The seller included a buy it now price on their auction. That doesn't mean the item sold for that price, or that there was demand for it at that price. If you look closely, there were 10 minutes left in the auction and the bid was about 100 dollars above retail; it probably ended close to that amount. Obviously, because it sold out as quickly as it did, the demand exceeded supply when it was released. The initial price could have been higher.

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People pay a premium price to just buy it off of ebay. The "scalpers" may have waited in line before opening to get a limited supply of iphones to sell on the first day.