lots of commodity markets are stuck on "lowest price wins". That means that management does not have as many options as you might think, since they will be put

lots of commodity markets are stuck on "lowest price wins". That means that management does not have as many options as you might think, since they will be put out of business if they cannot compete on price. This really happens quite a bit. Survivors of this brutal system are known to stockpile cash and other assets, for example Apple and their cash piles.