Lowering One’s Price to Get a Customer
I own a housewares store, where some of my popular items for sale are plates and dishes. I received a phone call from a customer who told me that my competitor was charging $100 for a particular set of dishes. He asked if I could beat that price. My questions are as follows: If my price is cheaper, am I permitted to tell him that, thereby luring him away from my competitor? If my price is more expensive, am I permitted to lower it just for him in order to get this sale?
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