There is now a COALESCE function (not to be confused with coalesce for indexes) which returns the first non-null item in a list.
SQL> SELECT product_id, list_price, min_price,
1 COALESCE(0.9*list_price, min_price, 5) "Sale"
2 FROM product_information
3 WHERE supplier_id = 102050;
PRODUCT_ID LIST_PRICE MIN_PRICE Sale
---------- ---------- ---------- ----------
2382 850 731 765
3355 5
1770 73 73
2378 305 247 274.5
1769 48 43.2