The objective is to discuss cost vs. price vs. value issues. A significant portion of my studies so far have revolved around situations in which the firm making the decision does not need to consider the effects of the decisions of other competitors in the market. In some markets, the firm is the only firm. Also, in other markets, the firm is one of many firms and any individual firm's decision would not affect the market significantly. I'm beginning a study of situations in which there are a relatively small (but more than one!) number of actors in the market, and one actor's decision will affect the outcomes of the other actors. I also had to read Chapters 13, 14, and 15 in my Managerial Economics textbook by Froeb.

• I had to read the case "The Incredible Shrinking Potato Chip Package" here (https://lms.ohiochristian.edu/content/enforced/17110-2209099060128170CO/Incredible%20Shrinking%20Potato%20Chip%20Package%20-%20mktg04-case2.pdf?_&d2lSessionVal=YesnQetNVVqtGq2lsyRpOGieM).
• How would you answer the questions below based on the above provided information?
  1. What are the relevant facts?
  2. What are the ethical issues?
  3. Who are the primary stakeholders?
  4. What actions should be taken? Why?