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What does undercharge mean?

Looking for the meaning or definition of the word undercharge? Here's what it means.

Verb
  1. (transitive) To charge less than the correct amount.
  2. (transitive, firearms) To put too small a charge into.
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Examples
It's obviously not in their interest to undercharge me, and it's not in their interest to overcharge me, either, since the burger business is a competitive one.
This process does transfer ground rent from areas of overcharge to areas of undercharge.
If the Department does not review its costs on a regular basis, it may undercharge its clients.
Any balance of the undercharge shall be paid by the consignee.
I am not sure this does explain it, however, since many state law schools undercharge the market rate.
In part, this explains why artists like Springsteen and Petty are content to undercharge at the gate while others, perhaps wary of their own staying power, are eager to capitalize while they can.

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