Finally! Summer is here and you are taking that long awaited camping trip on the July 1st long weekend. You and three friends are driving to a secluded lake that is five hours away. You have so much camping gear that you need a truck and that truck has a large (80L) gas tank. Question: Considering the price of gas fluctuates, when should you fill up the tank of the truck? What are your options? What makes the price of gas go up and down? Hint: Relate all your answers to supply and demand. Situation Two: (3 marks) It is a hot July day and your 10-year-old sister/brother wants to set up a lemonade stand. You think that is a great idea and help him/her mix up a batch of lemonade. You setup a stand and put the price of one glass of lemonade at $1 dollar. Business is good, but then you notice another kid down the block has set up lemonade stand too. They price their lemonade at 75 cents per glass. Business drops off immediately...now what? Question: What do you advise your little brother/sister to do? What should be the price? What are the other options? How does supply and demand factor in to all these decisions?