The first Price Club opened in 1976 in an airplane hangar previously owned by Howard Hughes, and the first Costco opened in 1983. The two merged in 1993, and Costco is now the largest membership warehouse chain in the US. Costco sells items, often in bulk, at low prices in its unadorned warehouses, displaying products on pallets. The company maintains a markup limit of 15 percent, and will not stock a product if it deems the price too high. What did Costco refuse to sell for this reason in 2009? Discuss