> A guy standing on the street outside a private members party is asking for a slice of the cake.
Would you kindly give him a slice of your cake?
No
How about
It costs $.35 to bake a slice of cake.
> On the first day of the week, a guy standing on the street outside a private members party has a slice of cake, he tries to sell it and the best rate he can get for a slice is $.50 because the street vendors are selling at $.40 - $.50; he realizes his slice can only be sold for greater than $.50 when all of the other vendors have finished selling their cakes for <$.50. He waits, they sell-out, he sells his slice for $.55
Mid week, the same guy tries to sell more slices $.55, but the best price he can get is $.40 because of the vendors' undercutting; the vendors are undercutting because less people buy cakes midweek, he realizes his slice can only be sold for a greater price when there are enough people willing to buy them;
So, he gathers the vendors and asks if they would agree to only sell cakes on the first day of the week, as this is the day when cakes are in demand, further he asks if they would agree to sell cakes for a price of $1 as they are free to set their price. If a majority of the vendors are selling at $1 the buyers will have no choice but to buy cake at $1 after the lower priced cakes are gone; in this way the 'union' of vendors make more money selling their cakes for $1 on the first day when demand is highest; as opposed to selling their cakes individually;
Would you sell your cakes for $1 on the first day for a greater profit and take the rest of the week off, or would you sell cakes on your own everyday at a lower price.
p.s sorry i'm a terrible story teller