Predatory pricing is a move to set the prices of the goods that you are producing really low in the hopes of running the competition out of business. In the long term this is not an effective strategy as the company that is doing this loses money by putting the products out with lower prices. This tactic will only be effective if the company can, by gradually increasing the price over long period of time, return the money it lost. Predatory pricing is however illegal as it can make a monopoly.
Nixon formally resigned on August 9, making Ford the first President of the United States who had not been elected as either president or vice president.
