Except as otherwise provided herein, it shall be unlawful for any person, partnership, firm, corporation or other entity engaged in business as a retailer or wholesaler within this state to sell, offer for sale, or advertise for sale any product or item of merchandise at a price less than the cost thereof with the intent to destroy or the effect of destroying competition. Each violation shall constitute a misdemeanor and, upon conviction thereof, any person, partnership, firm, corporation or other entity violating this section shall be subject to the penalty set forth in section eleven of this article.
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