Any retailer or wholesaler may advertise, offer to sell, or sell cigarettes at a price made in good faith to meet the prices of a competitor who is selling the same article at cost to the competitor as a wholesaler or retailer. A wholesaler may meet the price of a competitor that is less than the cost to the wholesaler only if the competitor’s lower cost has been approved by the tax commissioner pursuant to division (C) of section 1333.11 of the Revised Code. The prices of cigarettes advertised, offered for sale, or sold under the exemptions specified in section 1333.14 of the Revised Code shall not be considered the price of a competitor and used as a basis for establishing prices below cost, nor shall prices established at bankrupt sales be considered as prices of a competitor under this section.