what is price rigidity? give reason?
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Price Rigidity is a situation in market when price of good or thing sin market does not change immediately or quickly to the new market -clearing price when there is change or shift in demand & supply curve .this also known as price stickiness.
reason is that these kind of change in prices is not accepted by market quickly due to demand supply ratio & economical situations .
reason is that these kind of change in prices is not accepted by market quickly due to demand supply ratio & economical situations .
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