Most wholesalers post a "suggested retail price" on packages, which in turn are sold by retailers. Is there an economic basis for the suggested retail price? As the manager of a retail outlet, what factors will determine whether you should charge the suggested retail price or some higher or lower price?

Please incorporate refenrece from the book:

Reference:

Baye, R., & Prince, T. (2022).Managerial Economics & Business Strategy(10th ed.) [McGraw Hill]. McGraw Hill LLC.