Three contractors are bidding to fix a broken fence at the White House in Washington; one from Illinois, one from Tennessee and a third from Kentucky. They all go with a White House official to examine the fence.
The Tennessee contractor takes out a tape measure and does some measuring, then works some figures with a pencil.
"Well," he says, "I figure the job will run about $900: $400 for materials, $400 for my crew and $100 profit for me."
