Answer
- Predatory pricing: When a company intentionally sets very low prices in order to eliminate competitors, with the intent to raise prices later when the competition is gone.
- Dumping: Occurs when a company sells its products in a foreign market at a price lower than the domestic market or the production cost, often harming local industries.
- Collusive pricing: An illegal practice where competing companies agree to set prices at a certain level, typically to avoid price wars and maintain higher profits.
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