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    Question

    The practice of selling agricultural products well below

    their cost of production to eliminate competitors is known as:
    A Price discrimination Correct Answer Incorrect Answer
    B Price fixing Correct Answer Incorrect Answer
    C Dumping Correct Answer Incorrect Answer
    D Price skimming Correct Answer Incorrect Answer

    Solution

    Dumping is the practice of selling agricultural products in foreign markets at prices significantly below their cost of production or below the prices charged in the home market. This can be used as a strategy to eliminate competitors and gain market share.

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