Question

price stickiness is seen in which market​

Answer 1

Answer:

Price stickiness also appears in situations where a long-term contract is involved. A company that has a two-year contract to supply office equipment to another business is stuck to the agreed price for the duration of the contract even though the government raises taxes or production costs change.

Explanation:

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Answer 2

Answer:

Therefore, when the market-clearing price drops, the price remains artificially higher than the new market-clearing level, resulting in excess supply or a surplus. Price stickiness also appears in situations where a long-term contract is involved

Explanation:

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