Question

Explain ‘Price Stickiness’.​

Answer 1

Answer:

Price stickiness (or sticky prices) is the resistance of market price(s) to change quickly despite changes in the broad economy that suggest a different price is optimal. ... When applied to prices, it means that the prices charged for certain goods are reluctant to change despite changes in input cost or demand patterns.

Answer 2

Answer:

Hope this answer helps you!

Explanation:

Price stickiness (or sticky prices) is the resistance of market price(s) to change quickly despite changes in the broad economy that suggest a different price is optimal. When applied to prices, it means that the prices charged for certain goods are reluctant to change despite changes in input cost or demand patterns.