Final answer:
The ethical issue Sony would be facing if investigated for raising PlayStation prices during the Christmas season is primarily concerned with price gouging. This practice involves significantly increasing prices above fair levels during periods of high demand and is often illegal and viewed as unethical, especially for widely consumed products.
Step-by-step explanation:
If Sony was investigated for allegedly raising prices of its PlayStation excessively during the Christmas buying season and thereby manipulating the supply of games available at that time, this would be an ethical issue concerned primarily with price gouging. Price gouging involves a seller increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair, often during a demand spike due to an emergency, or in this case, a seasonal shopping period. It's characterized by prices that are markedly higher than what is seen as equitable.
While the temptation to earn higher profits can be strong, it is illegal in many parts of the world to set prices unfairly or to manipulate the market by creating artificial scarcity, which can also be a form of price gouging. Controversies surrounding demand and supply can lead to public pressure on policymakers to enact legislation to prevent prices from becoming excessively high or incredibly low, particularly for essential goods.
In the scenario with Sony, if the price hike does not reflect increased production costs or significant changes in demand and supply but rather an intent to exploit seasonal demand, it could be perceived as unethical behavior. Moreover, when products like the PlayStation, which is widely consumed, are involved, the scrutiny around pricing decisions is even higher.