The financial writer Andrew Tobias described an incident that occurred when he was a student at the Harvard Business School: Each student in the class was given large amounts of information about a particular firm and asked to determine a pricing strategy for the firm. Most of the students spent hours preparing their answers and came to class carrying many sheets of paper with their calculations. Tobias came up with the correct answer after just a few minutes and without having made any calculations. When his professor called on him in class for an answer, Tobias stated: “The case said the XYZ Company was in a very competitive industry … and the case said that the company had all the business it could handle.” Given this information, what price do you think Tobias argued the company should charge? Briefly explain. (Tobias says the class greeted his answer with “thunderous applause.”)