| 单词 | sticky prices |
| 释义 | sticky prices Prices which do not vary in the face of small changes in costs or demand conditions. These are common in many manufacturing and service industries. This is because changing prices is administratively costly, and because of uncertainty about which way costs or demand conditions will move next. Firms may also believe that raising prices risks losing customers if competitors do not follow suit, while cutting prices runs the risk of starting a price war. If there are large changes in costs or demand conditions, prices usually do change. |
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