Not sure that’s the best example to use, since food costs are a trivial fraction of the retail price of a bag of Doritos, and harvesting labor is a trivial frac

Not sure that’s the best example to use, since food costs are a trivial fraction of the retail price of a bag of Doritos, and harvesting labor is a trivial fraction of the price of food. Edit: that was just based on my general memory of non-perishable food economics. But I googled it and found this (sorry, quora) from someone who would know, a 2 oz bag of potato chips costs 15 cents to produce and bring to (retail) market. Of that, a fraction is potato prices. https://www.quora.com/How-much-does-a-bag-of-57g-of-Lays-actually-cost-to-the-company/answer/Chris-Daskam https://www.quora.com/How-much-does-a-bag-of-57g-of-Lays-act... Edit: fix Verizon math.