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Scooby-Doo Arbitrage

A student writes that she understood arbitrage at age seven.  She brought Scooby-Doo Fruity Snacks from her grandmother’s house (no charge to my student) to her Vacation Bible School class.  She was a monopolist in the class—nobody else brought snacks; and since the demand was quite inelastic, she was able to sell her Fruity Snacks for a good price.  Regrettably, her business was shut down because, as the teacher said, she was engaging in “uncharitable exploitation of [her] peers.”  She was also invited not to return to Bible School, showing that clever economic behavior may only  pay monetarily. (HT: CAP)