When a seller advertises an item at an unbelievably low price to lure customers into a store, and then refuses to sell the advertised item and instead pushes a similar item with a much higher price and higher margin the seller is participating in the illegal practice of _________________.

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This practice is known as bait and switch, where the seller lures customers in with a low-priced item but then tries to sell them a higher-priced item. This is illegal as it is a form of false advertising and can mislead consumers. Price fixing refers to collusion between vendors to set prices, while price discrimination means charging different prices to different customers. Deceptive pricing can encompass a range of practices, including bait and switch. Predatory pricing is when a company sets prices low to drive competitors out of business.

When a Seller Advertises an Item at an Unbelievably Low