e) Price competition

f) types of price competition: price wars, predatory pricing, limit pricing

g) types of non-price competition

price competition

price war
- repeatedly lowering prices to increase market share/drive competitors out of business
predatory pricing
- lowering prices below the COP when a firm enters the market
- raising prices when the firm has left the market
limit pricing = lowering prices below the PML above the COP → to deter competition

non-price competition